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<br />Policy Objectives: <br /> <br />1. Retention of head-of-household job and growth of existing business in the <br />community is considered a very high priority economic development policy. <br /> <br />Staff Recommendations: <br /> <br />1. The staff recommends pursuing an Industrial Development Revolving Loan <br />Agreement with Computype and First Bank as consistent with City economic <br />development policy. The first step in the process should be conceptual <br />agreement by the COlmcil and authorization to the City Manager and staff to <br />complete the negotiated tenns of the agreement, returning for fmal Council <br />approval as soon as the agreement is ready. <br /> <br />Council Action Requested: <br /> <br />1. Motion to approve, in concept, an Industrial Development Revolving Loan <br />Agreement in the approximate amount of $600,000 for Computype, Inc. <br />located at 2285 County Road I'CII; and to direct the City Manager and staff to <br />complete the tenns of the loan agreement and return for final Council approval <br />as soon as the agreement is ready. <br /> <br />Staff Report by: Dennis Welsch <br />