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In 2001, the EDA directed staff to provide a letter to the Initiative Foundation denying the <br /> request for year 2001. In addition, the EDA recommended that future requests be <br /> forwarded directly to the City Council for consideration. <br /> While the Foundation provides several business investment and grant making programs, the <br /> Economic Development staff has not had the opportunity in the past year to utilize the <br /> economic development programs and services offered as a result of a lack of qualifying <br /> projects. The Foundation has participated in the past on an investment level with a few of <br /> the EDA's Business Incubator companies and loans for business expansions. <br /> The Foundation has requested the opportunity to make a presentation to the City Council <br /> and answer any questions regarding the funding request. <br /> • <br />