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<br />e M I NUT E S <br /> Eugene City Council <br /> Dinner/Work Session <br /> Eugene Community Conference Center <br /> June 26, 1989 <br /> 5:30 p.m. <br /> COUNCILORS PRESENT: Ruth Bascom, Shawn Boles, Debra Ehrman, Bobby Green, <br /> Freeman Holmer, Emily Schue. <br /> COUNCILORS ABSENT: Roger Rutan. <br /> The adjourned meeting of June 21, 1989, of the Eugene City Council was called <br /> to order by Council President Ruth Bascom. <br /> 1. MODIFICATIONS TO THE BUSINESS DEVELOPMENT FUND <br /> Mike Sullivan, Planning and Development Department, gave the staff report. <br /> He said that on May 23, 1989, the Community Development Committee (CDC) <br /> recommended modifications to the Business Development Fund (BDF). These <br />e modifications address legal problems with the City's Targeted Business <br /> Assistance Program (TSAP) arising out of recent Supreme Court revisions <br /> regarding minority set-aside programs. Mr. Sullivan said the Council <br /> Committee on Economic Diversification (CCED) has reviewed these modifications <br /> and recommended their approval by the full council. <br /> Mr. Sullivan reviewed the proposed modifications to the BDF which include: <br /> expansion of the Loan Advisory Committee to enhance the representation of <br /> minority, disabled, and female head-of-household borrowers; enhanced <br /> marketing efforts designed to reach diverse community groups; staff <br /> sensitivity training; loan recipient sensitivity training; affirmative hiring <br /> by loan recipients; credit policy modifications to address the needs of <br /> businesses with extraordinary credit barriers; and the creation of a loan <br /> pool within the BDF to address the needs of businesses with extraordinary <br /> credit barriers. <br /> Mr. Sullivan stated that a number of credit policy modifications are included <br /> in the CDC's proposal. The BDF program is organized around preference <br /> criteria which are used in the analysis and approval of a loan application. <br /> Currently the preference criteria are project impact, project effectiveness, <br /> and project need. The proposal is to add an additional preference criteria <br /> called extraordinary credit barriers. An extraordinary credit barrier would <br /> be defined as an impediment to access to conventional credit arising from <br /> socioeconomic factors or traditional credit industry risk standards. Mr. <br /> Sullivan said that the goal of the BDF would also be broadened to recognize <br />e MINUTES--City Council-- June 26, 1989 Page 1 <br /> Dinner/Work Session <br />