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an existing policy used by another municipality. Member Riley noted that the City has had the <br />policy in the past. Community Development Director Gladhill confirmed the consensus of the <br />EDA to add a financial proforma, resume, personal tax returns, and financial history would be <br />desired. Chairperson Steffen noted that if the subsidy is being given to the real estate owner, he <br />would be curious as to how that is being passed along to the user. He stated that the business <br />welcome services are not financial in nature. He asked if those requirements would be desired <br />for the sign and awning program or specific for the water connection fee. Chairperson Steffen <br />noted that he would be less concerned with that because of the amount of subsidy. Member <br />Hardin stated that he would like to see personal financial statement, resume, proforma. Member <br />Riley believed that should be on a case by case basis. Chairperson Steffen noted that the current <br />application that will be considered in the next case does not include that information. <br />Community Development Director Gladhill noted that the applicant did provide some <br />background information but the formal information that is being discussed now was not <br />included. He stated that the restaurant was planning to open in mid -July and was unsure if this <br />would change timing. City Administrator Ulrich noted that there is still a motion on the floor. <br />He stated that delaying option one could be appropriate to add in some financial documentation. <br />Chairperson Steffen asked and received confirmation that the other municipality that the City <br />modeled the sign and awning language after does not require financial information. Member <br />Burandt stated that perhaps it is fair to assume that by the time the business is requesting the sign <br />and awning funds, they have already provided that financial information to a bank. He noted that <br />the request is only $1,500 and he would not require an applicant to provide a lot of financial <br />information and redundancy. City Administrator Ulrich noted that the purpose of the sign and <br />awning is aesthetic to make sure that the business looks nice. Member Hardin agreed that $1,500 <br />is not that much but believed that the City has fiduciary responsibility to review the documents. <br />City Administrator Ulrich stated that perhaps for the sign and awning program there could <br />simply be proof of financing from a bank provided. Member Hardin stated that he would be in <br />agreement with that. <br />Chairperson Steffen withdrew the motion on the table. <br />Motion by Chairperson Steffen, seconded by Member Riley, to recommend to City Council to <br />approve the sign and awning program with the addition of providing proof of financing. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Riley, Burandt, Hardin, Kanaventi, <br />Lambrecht, and LeTourneau. Voting No: None. Absent: None. <br />4.05: Restaurant Subsidy Application: Kitchen Table <br />Community Development Director Gladhill presented the staff report. <br />Member LeTourneau asked if the City would have early review in terms of the style and <br />placement or whether that would fall under the review of the Planning Commission. <br />Community Development Director Gladhill noted that review would be done administratively. <br />Economic Development Authority/June 14, 2018 <br />Page 6 of 10 <br />