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EOty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.11 <br /> Agenda Section Meeting Date Prepared by <br /> Consent Aril 17, 2017 Amanda Othoudt,EDD <br /> Item Description Reviewed by <br /> EDA Jobs Incentive 1Vlicroloan Program and Policy Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion, the EDA jobs Incentive NEcroloan Program and Policy. <br /> Background/Discussion <br /> Staff,in conjunction with the EDA Finance Committee, our attorney and financial advisor,reviewed and <br /> revised the EDA loan programs and policies. The jobs Incentive 1Vlicroloan Program is a program seeded <br /> by a separate fund account utilizing former State MIF dollars. <br /> This program was included in the general microloan policy in the past. We are separating this program <br /> into a separate policy because funds for this program need to follow specific state guidelines,which <br /> include job listing and prevailing wage requirements. <br /> The EDA reviewed these changes at their meeting earlier this evening. Staff can provide an update to the <br /> Council if necessary. <br /> Financial Impact <br /> None <br /> Attachments <br /> ■ jobs Incentive 1Vlicroloan Program Policy <br /> POWERED 6T <br /> A IR <br />