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104 <br /> <br />applied for a $250,000 grant for the Park which appears <br />unlikely to be granted, but that a $300,000 grant from the <br />Department of Transportation has also been applied for <br />which is more likely to be received. This Transportation <br />grant would allow road work from the intersection of Elk <br />Drive to the Park to be done. <br /> <br />STAFF REPORT: MINORITY BUSINESS PROGRAM <br /> <br /> Mr. Hendrix stated that following the consultant's <br /> report, well-attended public meetings had been held <br /> concerning the formation of a Minority Business Program, <br /> and a Minority Business Steering Committee had been <br /> established which has made their report available to <br /> Council. <br /> <br /> Ms. Teresa Turner, Vice-Chair of the Minority <br />Business Steering Committee urged Council's support of the <br />Minority Business Program and support for the formation of <br />a Minority Business Association. Ms. Turner stated that <br />the Steering Committee recommended that the Program <br />include two components. The first part of the Program <br />would be administered by the City Manager's office and <br />would provide technical assistance and espertise to <br />existing and proposed minority businesses. The second <br />part of the Program would be to set up a guaranteed loan <br />program for proposed minority business. Ms. Turner stated <br />that the Steering Committee felt that the proposed <br />Minority Business Program would be a cost-effective and <br />important first-step in spurring minority business in the <br />community. <br /> <br /> Mr. Hendrix stated that he was in full accord with the <br />report of the Steering Committee and that he felt it was <br />time to move on the recommendations. Mr. Hendrix stated <br />that the program would employ one person to work with <br />individual members of the minority business community <br />and would set up a loan program which may need to be <br />guaranteed by the City at a cost of approximately $100,000 <br />to $200~000. Mr. Hendrix stated that the program would <br />eventually be taken over by the proposed Minority Business <br />Association. Mr. Hendrix noted that the employee would <br />not be located in City Hall but would be located somewhere <br />in the community that would be accessible to the business <br />community. Mr. Hendrix requested that Council allocate <br />the $80,000 which has previously been appropriated for <br />this program. <br /> <br /> Responding to a question from Mr. Towe concerning how <br /> long before the program would be taken over by the <br /> Minority Business Association, Mr. Hendrix stated that it <br /> was uncertain but the consultant had estimated <br /> approximately three years. <br /> <br /> Mr. Towe questioned who would be eligible for the <br /> Program. <br /> <br /> Mr. Hendrix stated that no definite decision has been <br /> made at this time, but felt that preference would be given <br /> to those living or having businesses in the City. <br /> <br /> Ms. Turner stated that the Steering Committee had <br /> recommended that the program be limited to businesses <br /> licensed in the City, though technical assistance could be <br /> provided to others for a fee, and that the loan program be <br /> restricted to City businesses. <br /> <br /> Mr. Buck stated that he had received a call from <br />Cynthia Stratton, Chairman of the CDBG Task Force, who had <br />requested that the CDBG Task Force review the <br />recommendations for the Minority Business Program. <br /> <br />Mr. Hendrix stated that the CDBG Task Force had <br /> <br /> <br />