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<br /> <br /> <br /> <br />Commissioner Welsch noted that he would like to see this project be a success. It would <br />provide nice new townhomes with a lot of money invested in the rehab of a distressed <br />apartment complex. He sees this as a benefit to the safety and aesthetics of the community. <br /> <br />There was much discussion regarding the relocation budget and assurances that enough <br />funds are set aside to cover any relocation of tenants. <br /> <br />Motion/Second: Welsch/Goff moved to recommend approval of the sale of EDA owned land <br />for $45,000 contingent upon the project moving forward. <br /> <br />Motion Carried 5 ayes 0 nays <br /> <br />Motion/Second: Welsch/Goff moved to recommend approval of the request for a $230,000 <br />deferred loan for 30years at 1% interest with interest accruing at the closing date and <br />conditioned upon project moving forward. If the relocation budget decreases the EDC <br />would recommend a condition that the left over go back to pay the loan after 24 months. In <br />addition, a condition that the loan be paid in full upon sale of the property. <br /> <br />Motion Carried 5 ayes 0 nays <br /> <br /> <br />B. Discussion of Loan Program for Rehabilitation of Manufactured Homes <br /> <br />Deferred to next meeting <br /> <br />C. Information Regarding Highway 10 Design Theme RFP <br /> <br />Deferred to next meeting. <br /> <br /> <br />6. Reports From Chair, Commissioners and Staff: <br /> <br />No Reports <br /> <br />7. Adjournment <br /> <br />There being no further business before the Commission, this meeting of the Economic <br />Development Commission adjourned at 9:18 a.m. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br /> <br />Director of Economic Development <br />