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City Council Regular Meeting Minutes <br />March 13 ,2012 <br />I <br />2 <br />Page 2 <br />3 IV. <br />4 <br />5 <br />6 <br />7 V. <br />8 <br />9 <br />10 <br />II VI. <br />12 <br />13 <br />14 <br />IS <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />29 <br />30 <br />31 <br />32 <br />33 <br />34 <br />35 <br />36 <br />37 <br />38 <br />39 <br />40 <br />41 <br />42 <br />43 <br />44 <br />45 <br />46 <br />Motion carried unanimously. <br />PUBLIC HEARING. <br />None. <br />REPORTS FROM COMMISSION AND STAFF. <br />None. <br />GENERAL BUSINESS OF COUNCIL. <br />A. Resolution 12-036; Adopting the Amendments to the Greater Metropolitan Housing <br />Corporation's Program Guidelines. Mark City, City Manager. presenting. <br />City Manager Casey presented the proposed amendments to the Greater Metropolitan Housing <br />Corporation's program guidelines and explained the amendments include reducing the interest <br />rate from 4% to 3%, allowing more than one loan not to exceed $10,000, and requiring <br />additional funds needed to complete a project to be escrowed before loan funds are expended . <br />Councilmember Stille stated the guidelines identitY a maximum loan term of seven years with a <br />loan term of one year for every $1,000 borrowed. He noted that the guidelines do not address the <br />repayment schedule and felt it would make sense to claritY the repayment terms in the guidelines <br />to conform to the documents signed by loan applicants. <br />City Manager Casey advised the maximum loan term is seven years and the loan amount is <br />amortized annually . He agreed to revise the guidelines and bring them back for City COlIDcil <br />review. <br />Motion by Councilmember Stille, seconded by Council member Roth, to table action on <br />Resolution 12-036; Adopting the Amendments to the Greater Metropolitan Housing <br />Corporation 's Program Guidelines. <br />Motion carried unanimously. <br />B. Resolution 12-037; Authorizing a Study Regarding Regulation of Assemblies, Meeting <br />Lodges, and Convention Halls. Mark Casey. City Manager, presenting. <br />City Manager Casey presented the proposed resolution and ordinance for imposing a moratorium <br />on Conditional Use Permits for assemblies , meeting lodges, or convention halls in the Light <br />Industrial Zoning District to study whether to impose additional amendments to the Code. <br />Motion by Council member Stille, seconded by Councilmember Jenson, to approve Resolution <br />12-037; Authorizing a Study Regarding Regulation of Assemblies, Meeting Lodges, and <br />Convention Halls.