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Consider Property Tax Abatement for Badger Ventures,LLC <br /> EDA/City Council Meeting April 12,2004 <br /> Page 3 of 3 <br /> • There are several issues that remain unresolved,including: <br /> • Identification of a bank lender and proposed project financing terms <br /> • The possibility of a City Micro Loan request of up to $100,000 <br /> • Identification of the amount and source of eligible equity <br /> • Completion and review of a but for analysis <br /> Recommendation <br /> At this time there is not enough information for staff to provide a recommendation to the EDA <br /> regarding the tax abatement request for the project. <br /> The City Council may continue to hold a public hearing and receive comment on the tax <br /> abatement request. Staff recommends postpone any action regarding the abatement request until <br /> staff and the company to finalize the project details and resolve the remaining issues. Staff will <br /> report at a future regular meeting of the City Council for final action. <br /> • <br /> 4110 <br />