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Case # 4 <br /> Revolving Loan Fund and other Development Tools <br />By: Sean M. Sullivan, Economic Development/TIF Specialist <br /> <br />Background: <br /> <br />Mike Mulrooney presented information to the EDA this Summer pertaining to programs <br />that assist economic development. More details about the revolving loan program were <br />requested by the EDA. Mike Mulrooney has experience in these types of programs and is <br />able to better define how these types of programs work. <br /> <br />Observations: <br /> <br />The balance of the revolving loan fund will be near $95,000 at years end. It is important <br />to define what these types of funds may be used for and to direct it with the goals of the <br />EDA. Mike Mulrooney will be in attendance to discuss options for the revolving fund. <br />The discussion will be open-ended but centered on determining what would be the best <br />use for these types of funds and possibly to inquire as to how this fund could be <br />increased. <br /> <br />Recommendation: <br /> <br />Based on discussion <br /> <br />Review Checklist: <br />Associate Planner, Megan Wald <br /> <br />EDA: 12.08.04 <br /> <br /> <br />