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City of Centerville <br />EDA Meeting Minutes <br />June 17, 2020 <br />EDA share of the costs. A roll call vote was taken. All in favor. Motion carried; Resolution <br />adopted. <br /> <br /> <br />2. Resolution #EDA 20-04 Revising the EDA’s Revolving Loan and Grant <br />Program <br /> <br />There was discussion on different ways to structure grants programs for businesses, and whether <br />to offer a 3:1, 2:1 or 1:1 match. <br /> <br />There was discussion on cutting the 3:1 to 2:1, keeping the $5000 max and cutting down years <br />from 10 years to five years. Executive Director Statz stated that there was very little interest in a <br />low-interest loan, and suggested that we look for ways to get businesses into a grant program <br />instead of a loan program. <br /> <br />Finances were discussed and how much the commission could afford to contribute. <br /> <br />Commissioner Love asked if we could make it just a grant program instead of a loan and grant <br />program, since there was no interest in loans. <br /> <br />Executive Director Statz discussed the nature of the funding source for the program, which is the <br />city’s Housing and Redevelopment Authority funds, administered by the county. Statz will <br />discuss the funding availability with county staff <br /> <br />Motion by President Hanzal, seconded by Commissioner Weatherhead to approve EDA <br />Resolution #20-004, revising the EDA revolving loan and grant program guidelines to a 1:1 <br />match and reflecting all other revisions made by Executive Director Statz to retain the <br />$5,000.00 maximum reduce the renewal period to five-years, also approving as eligible <br />expenses, the streets scaping costs on private property, landscaping visible from the street, <br />and decks or patios used for business purposes. A roll call vote was taken. All in favor. <br />Motion carried. <br /> <br />3. Resolution #EDA 20-05 Establishing a Newspaper Advertising Campaign to <br />Support Local Businesses <br /> <br />Executive Director Statz suggested running a large ad saying “Shop Local”, as getting logos <br />from all businesses would be challenging. He suggested using the CenterStage logo. <br /> <br />Other members discussed the commission’s budget, and whether or not advertising in a <br />newspaper would seem antiquated. There was a suggestion regarding placing the ads at <br />Christmas time. <br /> <br />The commission decided to table the discussion until the July 15, 2020 EDA meeting. <br /> <br />IX. ADJOURNMENT <br /> <br />Page 5 of 6 <br /> <br /> <br />