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ITEM # 3_6. <br />ver <br />MEMORANDUM <br />TO: Economic Development Authority <br />FROM: Catherine Mehelich, Director of Economic <br />DATE: August 14, 2006 <br />Development /ii~~ <br />SUBJECT: Call Special EDA Meeting for August 21, 2006 to consider Micro <br />Loan Application from Olde Main Eatery <br />Issue <br />Staff xecendy received a loan application from the Downtown Rehabilitation Financing <br />Micro Loan Pxogxam from Olde Main Eatery. <br />Since an EDA Finance Committee meeting could not be held prior to the regular August <br />EDA meeting and in an effort to meet the applicant's deadline to exercise an option to <br />purchase the building, staff is requesting the EDA consider calling a special EDA meeting <br />fox August 21, 2006 fox the purpose of considering the micro loan application from Olde <br />Main Eatery. <br />The EDA Finance Committee is scheduled to meet August 17, 2006 to review the loan <br />application and make a recommendation to the EDA Board for final action. <br />Action Requested <br />Staff recommends the EDA call a special meeting fox Monday, August 21, 2006 at 6:00 p.m. <br />to consider the micro loan application from Olde Main Eatery. <br />S:\EDA\MICRO LOAN FUND\LOANS\Olde Main Eatery 2006\8.14.06 call special EDA mee[ing.doc <br />