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CITY OF CENTERVILLE <br /> REQUEST FOR ACTION <br /> (t e rville <br /> Agenda Item# Department: Requested Meeting Date: <br /> Administration March 20, 2019 <br /> TITLE OF ISSUE: <br /> Revolving Loan and Grant Program <br /> BACKGROUND AND SUPPLEMENTAL INFORMATION: <br /> Recently, city staff met with a banker to review their experience with the White Bear Lake Revolving Loan and <br /> Grant Program (the program we are modeling ours after). Out of that meeting, we wanted to discuss some of <br /> the basic terms and conditions of the program we are drafting. Attached is a summary of those parameters for <br /> discussion. <br /> COST AND SOURCE(S) OF FUNDING: <br /> $10,000 from EDA Levy for Grant Fund (initial contribution); $50,000 HRA funds for Revolving Loan Fund <br /> REQUESTED ACTION: <br /> No formal action requested. Item is for discussion only at this point. <br /> For Clerk's Use: <br /> SUPPORTED DOCUMENTS ATTACHED <br /> Motion By: <br /> Resolution Ordinance Contract Minutes Plan Map <br /> Second By: <br /> X <br /> Vote Record: Aye Nay <br /> Hanzal <br /> Other(specify) <br /> Giovinazzo <br /> 0 Weatherhead <br /> 0 Love <br /> 0 Lakso <br /> Refer to: <br /> Consent Tabled Until: <br /> Regular Other: <br />