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N. <br /> EDC Minutes <br /> November 7, 2012 <br /> Page 4 of 7 <br /> 40 <br /> visits, marketing new city website, economic development video (which has already been discussed), <br /> newsletter articles and anything else]. <br /> Chair von Holtum questioned how helpful the new and existing visits were, but felt that marketing <br /> the new city website,the economic development video and newsletter articles would go forward. He <br /> indicated he felt the best business outreach would be having the EDC acting as a resource. <br /> Community Development Director Hutmacher questioned if they would like to hold a State of the <br /> City in 2013. <br /> Chair von Holtum felt there would be a good turnout since TCAAP is starting to wind up again. <br /> Community Development Director Hutmacher suggested they hold a State of the City in <br /> September as, at that time,they would know whether TCAAP was moving forward or not. <br /> Chair von Holtum,moving on to the next item,questioned if there was any money in the existing <br /> revolving loan program. <br /> Community Development Director Hutmacher indicated there is money but that staff needs to do • <br /> some additional research on whether it can be used for things other than the revolving loan program. <br /> Chair von Holtum indicated this should be done in conjunction with one of the commercial bankers <br /> in the City because the City does not have the skill set to do the proper underwriting. He asked that <br /> staff look to see how much money there is and what the restrictions are and then contact the banks. <br /> City Administrator Klaers indicated he felt this should be a work item for next year since it has <br /> been sitting dormant for a time and staff is hoping to get the Economic Development Authority <br /> active and reestablished and have the EDA become the focal point for economic development <br /> separate from the City Council. Mr. Klaers indicated he is not sure if the loan was given to the City <br /> or the EDA. <br /> Chair von Holtum indicated he believed it was the EDA. <br /> City Administrator Klaers indicated the EDA is meeting November 26 to update their bylaws and <br /> approve their budget and then they will set up regular quarterly meetings and the revolving loan <br /> program will be one of their work items. <br /> Chair von Holtum agreed that this should be part of the EDA's work plan. <br /> City can identify the <br /> Chair von Holtum indicated he is not sure businesses considering <br /> 4110 <br /> expansion or at risk of leaving. <br />