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2City Council Regular Meeting Minutes <br />March 13, 2012 <br />Page 2 <br />Motion carried unanimously. <br />2 <br />3 IV. PUBLIC HEARING. <br />4 <br />5 None. <br />6 <br />7 V. REPORTS FROM COMMISSION AND STAFF. <br />9 None. <br />10 <br />11 VI. GENERAL BUSINESS OF COUNCIL. <br />12 <br />13 A. Resolution 12-036; Adopting the Amendments to the Greater Metropolitan Housing <br />14 Corporation's Program Guidelines. Mark City, City Manager, presenting. <br />15 <br />16 City Manager Casey presented the proposed amendments to the Greater Metropolitan Housing <br />17 Corporation's program guidelines and explained the amendments include reducing the interest <br />18 rate from 4% to 3%, allowing more than one loan not to exceed $10,000, and requiring <br />19 additional funds needed to complete a project to be escrowed before loan funds are expended. <br />20 <br />21 Councilmember Stille stated the guidelines identify a maximum loan term of seven years with a <br />22 loan term of one year for every $1,000 borrowed. He noted that the guidelines do not address the <br />23 repayment schedule and felt it would make sense to clarify the repayment terms in the guidelines <br />24 to conform to the documents signed by loan applicants. <br />25 <br />26 City Manager Casey advised the maximum loan term is seven years and the loan amount is <br />27 amortized annually. He agreed to revise the guidelines and bring them back for City Council <br />28 review. <br />29 <br />30 Motion by Councilmember Stille, seconded by Councilmember Roth, to table action on <br />31 Resolution 12-036; Adopting the Amendments to the Greater Metropolitan Housing <br />32 Corporation's Program Guidelines. <br />33 <br />34 Motion carried unanimously. <br />35 <br />36 B. Resolution 12-037; Authorizing a Study Regarding Regulation of Assemblies Meeting <br />37 Lodges, and Convention Halls. Mark Casey City Manager, presenting. <br />38 <br />39 City Manager Casey presented the proposed resolution and ordinance for imposing a moratorium <br />40 on Conditional Use Permits for assemblies, meeting lodges, or convention halls in the Light <br />41 Industrial Zoning District to study whether to impose additional amendments to the Code. <br />42 <br />43 Motion by Councilmember Stille, seconded by Councilmember Jenson, to approve Resolution <br />44 12-037; Authorizing a Study Regarding Regulation of Assemblies, Meeting Lodges, and <br />45 Convention Halls. <br />46 <br />