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�i <br /> EOty lk Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 7.2 <br /> Agenda Section Meeting Date Prepared by <br /> Public Hearin s November 17, 2014 Jeremy Barnhart,Deputy Director, CODD <br /> Item Description Reviewed by <br /> Coin-Tainer Business Subsidy Review Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Open and continue,by motion, the public hearing related to business subsidy request for Coin-tainer Co., <br /> LLC to December 15, 2014. <br /> Background/Discussion <br /> Stonesthrow and Coin-Tainer completed an application for Tax Abatement and a microloan in <br /> September. In October,based on the EDA Finance Committees comments, Stonesthrow withdrew their <br /> Tax Abatement application. <br /> DEED recently approved the 4 h Microloan and Coin-Tainer intends to go forward with this application. <br /> Full analysis had been put on hold until DEED approves the program. Staff will continue to work with <br /> Coin-Tainer on the application. We anticipate an EDA and an EDA Finance Committee meeting in the <br /> next month. <br /> The public hearing is necessary because the business subsidy is potentially greater than $150,000. <br /> Attachments <br /> ■ None <br /> p 0 W I R I I a <br /> ATURE <br />