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7 . LOAN REQUEST FROM WOODSMEN QUALITY PRODUCTS (FELIX AND <br /> JEANNE EGGERT) <br /> • Commissioners should refer to a copy of a memo that was <br /> sent to the EDA Finance Committee on this matter. <br /> Following a presentation by the Eggert' s, the Finance <br /> Committee voted to recommend approval of the $18,750 loan <br /> request. <br /> Action Requested <br /> The EDA is asked to approve a Micro Loan in the amount of <br /> $18,750 to Theofil (Felix) and Jeanne Eggert. The loan <br /> will be secured by: <br /> - A second real estate mortgage on Lot 1, Block 1, <br /> Meadowvale Business Park; <br /> - A Promissory Note; and, <br /> - A Guaranty of Mortgage. <br /> The loan will be repaid over 15 years beginning with an <br /> interest rate of 6% (current prime rate) . The rate will <br /> be adjusted at six month intervals - floating with prime. <br /> 8 . ESTABLISH A NEGOTIATING TEAM <br /> The EDA Business Park Task Force conducted another meeting <br /> on November 3, 1993. A discussion item included the <br /> • creation of a "negotiating team" who would be charged with <br /> developing strategies for the ongoing discussions with <br /> owners of land that is suitable for business/industrial <br /> parks . The following Task Force members were selected to <br /> the negotiating team: <br /> - Hank Duitsman <br /> - Dick Gongoll <br /> - Carol Mills <br /> - Pat Dwyer <br /> Another committee comprised of John Oliver, Ed Cunnington, <br /> and Jeff Gongoll is charged with determining the <br /> availability of grants and loans, etc. , from REA-related <br /> agencies . <br /> Action Requested <br /> The EDA is asked to approve a recommendation by the <br /> Business Park Task Force that a negotiating team be <br /> established. <br /> 9 . PROSPECT STATUS REPORT <br /> The Prospect Status Report has been sent under separate <br /> • cover. <br />