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<br /> <br />,. <br /> <br /> <br />proEpectst.hat have been m;,eec:""are of the rooclving loan h:r;d aTC he 16 <br />c0ncerr.ec that ttCf~ fUDCf -,:;;':1 r.l't be [yeiJ"l,Je ~bC'\;:c f.ry l: :LC'f€ <br />busir.efu,f dff~:;{' t( rr.alf USE. C: tLt ::nl'lYir.g :CtCir. fenc r:C'f.'::a. <br /> <br />Mr. Hartley st~ted th;,t th~ rev~lving loan fund progran was iunded through <br />the lanclfill trust fund, not CDBG funds. The revolviIlg loan func is not <br />dependent on CDBG fund~; also, future year's CDBG funds can be considert:d <br />for econoo,ic development functions. <br /> <br />Mr. Ippel - Stated that the agreement betveen the City anc the Econ01dc <br />Development Ccm)n;r:y statf's tbet CDtG funds bI(: allocaLed fC)T econuI;.ic <br />development acti':ltief> and a revol,"ing loan func. ~:r. JT'pel steted thEt <br />both the park expan!;ion and econOI:,ic development activities are ",'ort.hwhiJe <br />projects and future CDBG funes should be used for econou.ic development. <br /> <br />ADJOURNHE~T <br /> <br />Motion by Councilmember DeLuca and seconded by Councilmember Pearson to <br />adjourn the public hearing. <br /> <br />Motion carried. Voting Yes: Hayor Reimann, Councilmembers Sorteberg, <br />DeLuca, Pearson and Ba~'den. Voting No: None. <br /> <br />The public hearing adjourned at 7 :58 p.m. <br /> <br />Respectfully submitted, <br /> <br />?~//<<-/! <br />)f~'1 rl:~;;:~ <br /> <br />David Hartley <br />City AO.ministratox <br /> <br />s~~__~ <br /> <br />Sylvia Frolik <br />Secretary <br /> <br />City Council Public Bearing/Novemper 15, 1988 <br /> <br />Page. 2 of 2 <br />