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Ms. Huot presented the financial review report. <br /> Motion by Member Vitzhum to recommend to the EDA approval on Morrell <br /> Trucking property tax abatement application. Motion was seconded by Member <br /> Toth.Motion carried 7-0. <br /> 4.3 Morrell Trucking Job Incentive Program Micoloan Review <br /> ,Ms. Othoudt presented the staff report. <br /> Member Motin asked if the pay rate would be lower for the new jobs and what the terms are <br /> for the loan. Member Tveite state the loan would be amortized over 15 years. <br /> Motion by Member Wagner to recommend to the EDA approval of the Morrell <br /> Trucking jobs incentive microloan application with the inclusion to require personal <br /> guarantees from Morrell Trucking. Motion was seconded by Member Motin. Motion <br /> carried 7-0. <br /> 4.4 Promo Products Industrial Incentive Microloan Extension Review <br /> Ms. Othoudt presented the staff report. <br /> Motion by Member Motin to recommend to the EDA approval of Promo Products <br /> two year extension request. Motion was seconded by Member Toth. Motion carried <br /> 7-0. • <br /> 5. Announcements <br /> Member Vitzhum asked if the committee was taking the correct procedure when discussing <br /> the different applications. Member Vitzhum asked if the correct approach was to have the <br /> clients leave during the application discussions. Ms Othoudt will check on this and report <br /> back to the committee at the next meeting. <br /> 6. Adjournment <br /> There being no further business Member Tveite moved to adjourn the meeting. <br /> The meeting adjourned at 8:32 a.m. <br /> • <br /> Minutes prepared by Colleen Eddy. <br /> a Alla d, City Clerk <br /> manda Othoudt, Economic II evelopment Director <br />