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<br />Request for Action <br />ToItem Numbe <br /> <br />r <br />Mayor and City Council 7.3 <br />Agenda SectionMeeting DatePrepared by <br /> <br /> <br />General BusinessDecember 15, 2014Jeremy Barnhart, Deputy Director, CODD <br />Item DescriptionReviewed by <br /> <br /> <br />Stonesthrow Properties, LLC (Coin-tainer) Tax Cal Portner, City Administrator <br />Reviewed by <br />Abatement and Microloan Review <br /> <br /> <br />Action Requested <br />Open public hearing to consider business subsidy in the amount greater than $150,000 for Stonesthrow, <br />LLC (Coin-Tainer). <br /> <br />Background/Discussion <br /> <br />The City Council must hold a public hearing and invite comments for any business subsidy in the amount <br />greater than $150,000. Stonesthrow application for the Jobs Incentive Microloan, if approved by th <br />EDA, would amount to $200,000. <br /> <br />As of this writing, the EDA will review the application at their meeting on December 15. Final <br />agreements are expected to occur in January, the public hearing held tonight would allow any comments <br />to be incorporated into the final agreement. <br /> <br />Attachments <br /> <br />EDA Staff Report <br />Springsted Analysis <br /> <br />