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Economic development loan fund balance $177,227; committee asks for clearer loan records
Summary
Amy Oliver said the loan fund balance was $177,227.02 as of May 31, 2026; the committee asked that each loan record include an origination date and discussed broadening the loan manual for working capital projects.
Amy Oliver presented the Economic Development Loan Report and said, "Fund balance as of May 31, 2026, is $177,227.02; no loan payoffs; no new loan inquiries." Committee members asked staff to add each loan's origination date to the monthly report to improve tracking.
Members discussed whether the loan manual should be updated to allow working‑capital loans in some cases. The committee agreed the manual should remain broad because requests are case‑by‑case; staff will continue exploring options to improve efficiency and impact of the loan program.
