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Member Cords asked if staff has been in contact with any of the restaurants, or hardest hit <br />businesses. <br /> <br />Economic Development Manager Sullivan confirmed that staff contacted all of the restaurants in <br />the community to develop the restaurant guide. He stated that it seems that the full-service <br />restaurants have been hit the hardest, as some of those businesses remain closed. He noted that <br />some of the quick service restaurants remain open for take-out orders. He stated that some of the <br />full-service restaurants tried takeout but stopped because it was not economically working. Staff <br />has also fielded many phone calls from businesses looking for help accessing assistance <br />programs. <br /> <br />Chairperson Steffen noted that there is a nice list developed by staff and asked if staff is <br />recommending that anything on the list not be included as an option. <br /> <br />Economic Development Manager Sullivan stated that the revolving loan fund typically is used <br />for non-retail, non-restaurant businesses. He noted that the State has allowed cities to use the <br />fund for that purpose through June 30 but was unsure what that program would look like. He <br />noted that using that fund would also take the City’s ability to use that for manufacturing <br />purposes which generated this fund balance in the future away. <br /> <br />Chairperson Steffen asked for details on SBA programs. <br /> <br />Economic Development Manager Sullivan stated that City staff can only provide the information <br />to the business. He stated that the business would then need to discuss that option with their <br />banker. He noted that the Paycheck Protection Program (PPP) is available on a first come, first <br />serve basis. He noted that he is unsure whether businesses have filled out the applications for the <br />programs, but he believes that businesses are discussing the options with their bankers. <br /> <br />Economic Development Manager Sullivan reviewed the potential list of programs and the <br />possible funding for the programs. He noted that staff can cost out the options the EDA selects, <br />and the City Council can review those recommendations. He also reviewed the current actions <br />the City is taking to provide flexibility to businesses. <br /> <br />Member Burandt stated that given that these are extraordinary times and restaurants are <br />important businesses to the community, he would support using the EDA fund to offer some of <br />these options to local restaurants. <br /> <br />Member Kuzma stated that he would like the City to wait a few more weeks to see how things <br />shake out, as $100 or $500 really does not make that much of a difference. <br /> <br />Deputy City Administrator Gladhill stated that these programs would not necessarily be <br />approved but noted that direction from the EDA would be helpful as to whether staff could focus <br />effort. He noted that some actions have minimal impacts, such as waiving certain licensing or <br />permitting fees. <br /> <br />Economic Development Authority/ April 7, 2020 <br />Page 5 of 9 <br /> <br />