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Economic Development Manager Sullivan commented that the exception word was used for the <br />new versus existing. He stated that perhaps that language be clarified moving forward so that it is <br />understood that both SAC and WAC could be considered. <br />Member Burandt stated that if a business is expanding to the point where additional SAC and <br />WAC is needed, he would not differentiate between new or existing as business growth is business <br />growth. <br />Member Riley asked if the EDA likes the idea of allocating the $50,000 versus taking applications <br />as they come. He stated that he questions $50,000 as the program has been in place for three years <br />without use. He stated that applications could continue to be reviewed as they come. <br />Member Burandt agreed that the program has not been used so funds do not necessarily need to be <br />allocated and the group could leave the program open and review applications on a case -by -case <br />basis. <br />Chairperson Steffen agreed. <br />Economic Development Manager Sullivan noted that in this case six SAC and WAC units were <br />requested but with a new restaurant that number could increase quickly. He stated that if three <br />new restaurants came forward with requests that could easily be $70,000 which the City would be <br />inclined to support. He noted that his intention was not to provide an open checkbook. <br />Deputy City Administrator Gladhill stated that the policy does not obligate any amount of support. <br />He stated that there is underwriting that occurs and review that is done to determine what is actually <br />needed for a project. - <br />Chairperson Steffen asked if this would only apply to full -service restaurants. <br />Economic Development Manager Sullivan confirmed that only full -service restaurants would be <br />eligible. <br />Motion by Member Burandt, seconded by Chairperson Steffen, to recommend to City Council to <br />amend the Restaurant Subsidy Program to allow for both SAC and WAC charges to be eligible for <br />loans and approve of 70 percent, zero percent interest, forgivable loan for both the SAC and WAC <br />charges in the amount of $16,170 for Pleasant Valley Sunrise Group, LLC dba Aurelio's Pizza, <br />subject to satisfactory underwriting. <br />Motion carried. Voting Yes: Chairperson Steffen, Members Burandt, Cords, Heineman, Howell, <br />and Riley. Voting No: None. Absent: None. <br />Economic Development Authority/ January 14, 2021 <br />Page 3 of 3 <br />