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Economic Development Advisory Committee <br />March 2, 2023 <br />Page 2 <br /> <br />DRAFT MINUTES <br />sidewalk, front door, and garage door replacement or repair. There will be three <br />categories to qualify for this loan. Age of the home, value of the home and income <br />threshold. <br /> <br />The EDAC also recommended that the loan would be for 85% of the project amount <br />with a cap of $10,000. There would be a small interest percentage charged for the loan <br />and would be payable via property taxes over a calculated period of time. The goal is <br />to have implementation of the program by 2024. <br /> <br /> B. Project Updates <br /> <br /> Mr. Grochala updated the committee on current City projects. <br /> <br />4. ADJOURNMENT <br /> <br />Mr. Vojtech made a motion to adjourn the meeting at 8:56 a.m. Motion was supported by <br />Mr. Kohler. Motion was carried 9-0. <br /> <br />Respectfully submitted, <br />Julie Whitney, Community Development Administrative Assistant <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />