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Council agenda lists $620,173.45 UDAG loan proposal to Trad1tion Investments and Ballher
Summary
Ordinance No. 014-26 would authorize a UDAG loan totaling $620,173.45 to Trad1tion Investments, LLC and Ballher, LTD.; the ordinance is on the Feb. 2 agenda as new business and labeled an emergency but no vote is recorded in the transcript.
Ordinance No. 014-26 would accept execution of a loan agreement using $620,173.45 in UDAG proceeds to Trad1tion Investments, LLC and Ballher, LTD., and is listed as an emergency ordinance on the Feb. 2 agenda.
The agenda line names the exact dollar amount ($620,173.45) and the recipient entities but does not provide loan terms, collateral, or related covenants. The ordinance is recorded as "Introduced by: Council as a Whole"; the transcript provides no debate, public comment, or recorded vote on the item.
Because the agenda lists the loan amount and beneficiaries explicitly, follow-up reporting should request loan documents and terms from city staff to determine repayment structure and any public benefit commitments tied to the UDAG allocation.
