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<br />Request for Action <br /> <br /> <br />To Item Number <br /> <br />Mayor and City Council 4.14 <br />Agenda Section Meeting Date Prepared by <br /> <br />General BusinessJanuary 20, 2015Jeremy Barnhart, Deputy Director, CODD <br />Item Description Reviewed by <br /> <br />Resolution Approving Loan Agreement (Coin-Cal Portner, City Administrator <br />Tainer Project) <br />Reviewed by <br /> <br /> <br />Action Requested <br /> <br />Approve, by resolution, the $200,000 microloan for Coin-Tainer. <br /> <br />Background/Discussion <br /> <br />The EDA is expected to approve the $200,000 jobs incentive microloan for Coin-Tainer at their meeting <br />on January 20, 2015. <br /> <br />Because microloan is considered a business subsidy, the City Council must hold a public hearing and <br />approve the subsidy via resolution, in addition to those same actions completed by the EDA. The city <br />held a public hearing on December 15, 2014. No comments for or against the application were received. <br /> <br />The resolution states that the Council authorizes the EDA President, Executive Director, and attorney to <br />approve changes to our standard loan agreement. <br /> <br />Attachments <br /> <br /> <br /> <br />Resolution <br /> <br /> <br />Council packet dated December 15, 2014 <br /> <br /> <br /> <br />