7.2. SR 11-17-2014 �i
EOty lk Request for Action
River
To Item Number
Mayor and City Council 7.2
Agenda Section Meeting Date Prepared by
Public Hearin s November 17, 2014 Jeremy Barnhart,Deputy Director, CODD
Item Description Reviewed by
Coin-Tainer Business Subsidy Review Cal Portner, City Administrator
Reviewed by
Action Requested
Open and continue,by motion, the public hearing related to business subsidy request for Coin-tainer Co.,
LLC to December 15, 2014.
Background/Discussion
Stonesthrow and Coin-Tainer completed an application for Tax Abatement and a microloan in
September. In October,based on the EDA Finance Committees comments, Stonesthrow withdrew their
Tax Abatement application.
DEED recently approved the 4 h Microloan and Coin-Tainer intends to go forward with this application.
Full analysis had been put on hold until DEED approves the program. Staff will continue to work with
Coin-Tainer on the application. We anticipate an EDA and an EDA Finance Committee meeting in the
next month.
The public hearing is necessary because the business subsidy is potentially greater than $150,000.
Attachments
■ None
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