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<br />work out the best outcome for the city. There was also discussion on whether EDA needed <br />to provide notice to Orluck regarding the city taking any actions regarding the equipment <br />and loan. <br /> <br />Mr. Ovall also suggested that Mr. O’Neil contact an attorney with expertise in work-outs and <br />UCC filings, and recommended Eric Sherburne at Eckburg Lammers. <br /> <br />Motion by Magnussen and seconded by Gromberg to direct staff to work with the <br />recommended legal firm and principals and senior lenders involved with the loan <br />and equipment to maximize recovery for the city and to bring any final action to the <br />EDA. Motion carried 5-0. <br /> <br />5 Announcements <br /> <br />Staff mentioned that a future item to bring to the committee consideration is an evaluation <br />of the review process for incentive programs. There was some discussion on working with <br />the council on developing a new process and policy criteria. <br /> <br />Staff also mentioned the possibility of looking at fees related to loans, particularly small <br />loans. <br /> <br /> <br />6. Adjournment <br /> <br /> There being no further business, Mr. Tveite adjourned the meeting at 8:16 a.m. <br /> <br /> <br /> <br />Minutes prepared by Brent O’Neil and Joshua Mollan. <br /> <br /> <br />_____________________ <br />Tina Allard <br />City Clerk <br /> <br /> <br />___________________ <br />Brent O’Neil <br />Economic Development Director