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Councilmember Anderson explained that the EDA had discussed that the City had not <br />offered any incentives to Sunfish Commons and they did run into an unsuspected <br />asbestos problem. Since it is a loan, not a gift, she could agree to the loan especially <br />because they will be paying taxes this year, not in 15 years. <br /> <br />Councilmember Kurak stated that the request sounded reasonable as long as the funds <br />being used are not impacting anything else. <br /> <br />City Administrator Norman noted that at this point they are only requesting that funds be <br />placed into the Revolving Loan Fund to consider the loan application. <br /> <br />Motion by Councilmember Kurak, seconded by Councilmember Anderson, to direct the <br />Finance Officer to transfer up to $150,000 from an appropriate City fund to the <br />Revolving Loan Fund in order to allow the Sunfish Commons Partnership to make a loan <br />application. <br /> <br />Further discussion: Councilmember Hendriksen inquired as to why the City would not <br />accept the application and if they approve the application then they can transfer the funds. <br />Councilmember Zimmerman expressed concern about treating all businesses equally <br />because they don't have a policy on something like this. Councilmember Anderson <br />replied that it has been done on a case by case basis. Councilmember Zimmerman <br />inquired as to where the funds would come from. Mayor Gamec replied that the funds <br />would come from the appropriate City fund as determined by the Finance Officer. <br />Sunfish Commons would be paying the money back so the City will be making more <br />money. Councilmember Zimmerman replied that the City is not a bank. Councilmember <br />Hendriksen stated that he understands and agrees with the concept that the City gives <br />money to bring businesses to Ramsey and bring jobs that make sense for the community. <br />What he disagrees with is what is happening here. It is a building going up and now they <br />are asking for money. He didn't like being told about a deal after the fact. City <br />Administrator Norman replied that both companies they were dealing with were <br />competing with other communities and when they expose their game plan they have a <br />way of being out maneuvered. Councilmember Hendriksen replied that they need to find <br />a way to communicate better. <br /> <br />Motion was amended as follows: Motion to consider a loan application from Sunfish <br />Commons Partnership in an amount not to exceed $150,000 and upon receipt of said loan <br />application and approval of the loan and loan terms by the City Council, the Finance <br />Officer shall transfer the necessary funds to the City's Revolving Loan Fund in order to <br />fund the loan. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Kurak, Anderson, and <br />Hendriksen. Voting No: Councilmember Zimmerman. <br /> <br />City Council/October 9, 2001 <br /> Page 20 of 24 <br /> <br /> <br />