05-11-2004 Council Minutes - Laserfiche WebLink

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MINUTES CITY COUNCIL MAY 11, 2004 The foregoing resolution was duly seconded by LaValle. Ayes (4) Blesener, LaValle, Fahey, Montour. Nays (0). Resolution declared adopted. SCHEDULE Mr. Blesener introduced the following resolution and moved its adoption: DISCUSSION OF WEST RESOI. UTION NO. 2(104-5-93 - CALLING A WORK.S~HOP MEETING VADNAIS FOR WEDNES7)AY, JUNE 9, 2004 AT 6:00 P.M. TO DLSCUSS THE OUTLET WEST VADNAIS OUTLET The foregoing resolution was duly seconded by Montour. Ayes (4) Blesener, Montour, Fahey, LaValle. Nays (0). Resolution declared adopted. It was the consensus of the Council that this workshop meeting should be televised. BUSINESS The City Administrator submitted revised guidelines for the Business REVOLVING Revolving Loan Fund based on revisions recommended by US Bank. LOAN FUND The City AdminisU'ator recommended approval of the guidelines based on review and approval by the City Attorney. With regard to funding level, the City Administrator noted that Council Member Anderson feels that the funding level should start stronger rather than weaker. The City has $150,000 in funds available for the program. These funds do not come from property taxes, but rather from a development fee that was collected. Montour asked if the City would spend some of the dollars promoting the program. The Administrator indicated that US Bank would be putting together some advertising packets. The Administrator suggested that the City put out adoor-to-door literature drop. LaValle duestioned the list of targeted properties, specifically the pylon sign at the Market Place Shopping Center. The City Administrator reported that there is a definite need to upgrade the appearance of this sign. LaValle asked if the Council and/a EDA would have final approval on the disbursement of loan funds. The City Administrator indicated that the EDA will have full discretion on what loans are made. Montour felt there were businesses that should be targeted under this program. Montour asked if there was the possibility of increasing the funding for this program in the event there is an overabundance of loan applications. The City Administrator noted that this would be at the EDA's discretion.