6.0. EDSR 01-14-2008 - Laserfiche WebLink

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Cit}-_Councl.,.\fuutes .. \o\-ember ZQ, ?00G . ~ REGARDING ENFORCEMENT AND PARKING PERMITS WITH THE FOLLOWING TWO APPOINTMENTS TO THE FOCUS GROUP: ^ LARRY TOTH • KEITH HOLME MOTION CARRIED 5-0. MOVED BY COUNCILMEMBER GUMPHREYAND SECONDED BY COUNCILMEMBER DIETZ TO PUT A TEMPORARY CAP ON PARKING PERMITS. MOTION CARRIED 5-U. ~--- B. Loan Pro am Page ~F 1\-Is. 1\lehelich stated the Council asked staff to consider a grant or loan program to assist do\vnto\vn business o\vners. She stated staff had discussions wit11 the city's auditor alld legal counsel regarding any issues with the city providing Financial assistance in the form of a grant to businesses. She stated the auditor confirmed that the city has no statutory- authority- to provide grants to businesses for dleir hardship as a result of a construction project. Ms. It-lehelich stated the citti~ \vould need to establish findings for a public purpose on the grant. IVis. 1\~lehelich revie\ved a draft loan program for existing businesses for downto\vn rCVIC111`Latio2l \v1C11 rCCOInIIlendat1o1I5 b}' CIIC EDsI as outlined in the staff report. She stated the city- has rccci\-ed limited interest on the loan program from the do\vnto\rn businesses. Councilmember 1\Iotin stated the personal guaraucees the EDA is requiring are personal Enancial statements of the owners. MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY COUNCILMEMBER FARBER TO APPROVE THE DO~YfI~TTOWN BUSINESS REVITALIZATION LOAN PROGRAM AS OUTLINED BELO~KI: PURPOSE: THE DOWNTOWN BUSINESS REVITALIZATION LOAN PROGRAM IS AVAILABLE TO BUSINESS OWNERS IN THE DO~y/NTOWN DISTRICT {DD} AS A SHORT-TERM, LOW INTEREST OPERATING LOAN THAT COULD BE USED TOWARD WORKING CAPITAL, CASH FLOW, BUSINESS SUSTAINABILITY AND CAPITAL EXPENDITURES. AMOUNT: UP TO $25,000. RATE: 3%. TERM: 2-YEARS. CRITERIA: 1. PERSONAL GUARANTEE OF THE BORROWER WILL BE REQUIRED.