3.6. EDSR 08-14-2006ITEM # 3_6.
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MEMORANDUM
TO: Economic Development Authority
FROM: Catherine Mehelich, Director of Economic
DATE: August 14, 2006
Development /ii~~
SUBJECT: Call Special EDA Meeting for August 21, 2006 to consider Micro
Loan Application from Olde Main Eatery
Issue
Staff xecendy received a loan application from the Downtown Rehabilitation Financing
Micro Loan Pxogxam from Olde Main Eatery.
Since an EDA Finance Committee meeting could not be held prior to the regular August
EDA meeting and in an effort to meet the applicant's deadline to exercise an option to
purchase the building, staff is requesting the EDA consider calling a special EDA meeting
fox August 21, 2006 fox the purpose of considering the micro loan application from Olde
Main Eatery.
The EDA Finance Committee is scheduled to meet August 17, 2006 to review the loan
application and make a recommendation to the EDA Board for final action.
Action Requested
Staff recommends the EDA call a special meeting fox Monday, August 21, 2006 at 6:00 p.m.
to consider the micro loan application from Olde Main Eatery.
S:\EDA\MICRO LOAN FUND\LOANS\Olde Main Eatery 2006\8.14.06 call special EDA mee[ing.doc