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commission would reconsider the loan package if there was the addition of a guarantor who <br /> has adequate financial strength and would pledge additional collateral in the amount of at least <br /> S $10,000. <br /> Motion Carried 4 ayes 0 nays 1 abstain <br /> D. Discussion of Sample Tax Increment Financing Application and Review of Guidelines <br /> for the Analysis of the Sample Application <br /> Motion/Second: Schmidt/Sjoberg moved to table this item due to time constraints. <br /> Motion Carried 5 ayes 0 nays <br /> Reports From Chair, Commissioners and Staff: <br /> Commissioner Schmidt mentioned that he had talked with the Owner of Win Insurance <br /> Agency located on the corner of Silver Lake Road and Highway 10 and that he was actively <br /> trying to market his property. Coordinator Bennett mentioned that she received a call from <br /> him and updated him on the proposed study of this area of Highway 10. <br /> Chairperson Nelson noted that the next meeting would be on October 24, 1996 at 7:30 a.m. <br /> instead of 6:00 p.m. <br /> 7. Adjournment <br /> • There being no further business before the Commission, this meeting of the Economic Development <br /> Commission adjourned at 8:50 a.m. <br /> Respectfully Submitted, <br /> i ------- . <br /> Economic Development Coordinator <br /> II <br /> r. _-i ... <br /> r r' , j 7 , 7-� <br /> `_ . a a <br /> 3 <br />