Laserfiche WebLink
prospects that have been made aware of the revolving loan fund and he is <br />concerned that those funds will not be available should any of those <br />businesses desire to make use of the revolving loan fu~d program. <br /> <br />Mr. Hartley stated that the revolving loan fund program was funded through <br />the landfill trust fund, not CDBG funds. The revolving loan fund is not <br />dependent on CDBG funds; also, future year's CDBG funds can be considered <br />for economic development functions. <br /> <br />Mr. Ippel - Stated that the agreement between the City and the Economic <br />Development Company states that CDBG funds are allocated for economic <br />development activities and a revolving loan fund. Mr. Ippel stated that <br />both the park expansion and economic development activities are worthwhile <br />projects and futu~e CDBG funds should be used for economic development. <br /> <br />ADJOURNMENT <br /> <br />Motion by Councilmember DeLuca and seconded by Councilmember Pearson to <br />adjourn the public hearing. <br /> <br />Motion carried. Voting Yes: Mayor Reimann, Councilmembers Sorteberg, <br />DeLuca, Pearson and Bawden. Voting No: None. <br /> <br />The public hearing adjourned at 7:58 p.m. <br /> <br />Respectfully submitted, <br /> <br />Sylvia Fro!ik <br />Secretary <br /> <br />David Hartley <br />City Administrator <br /> <br />City Council Public Hearing/November 15, 1988 <br /> <br /> Page 2 of 2 <br /> <br /> <br />