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it <br />1 <br />fl <br />City Council Minutes <br />February 12, 1997 <br />Page 4 <br />DISCUSSION OF A BUSINESS LOAN PROGRAM <br />t_• 3i~ <br />The council and administrator discussed the possibility of providing lower interest <br />loans to city businesses making property improvements. The funding would come <br />from the city's community/economic development fund. Since the proposed program <br />would be a loan program rather than a grant program, the city would receive its <br />money back over time. <br />Motion was made by Councilmember Jacobs to direct the administrator to proceed <br />with developing this program. Motion passed unanimously. <br />ADJOURNMENT <br />The meeting adjourned at 8:57 p.m. <br />Susan L. Gehrz, Mayor <br />Carla Asleson <br />Recording Secretary <br />