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e Mr. Robinson urged that means be sought to use the funds to assist businesses in the early stages of development and to tie in with existing funding mechanisms, such as the Small Business Administration or the State venture capital program. He hoped that the program could make venture capital available to cottage industries. He felt that with good marketing assistance, local businesses could develop markets throughout the Northwest, the US, and possibly in Pacific Rim nations. He felt that a loan guarantee or repayment insurance program would be especially helpful to new businesses. Susan Sowards, 1843 Moss Street, said that she is a partner in a small business development firm. She was pleased with the proposal developed by the subcommit- tees for use of CDBG funds for economic development. She said that since the funds are limited, special effort must be made to focus the program for most efficient use of the funds and for the greatest impact. She was pleased that phase I of the assistance program could be accomplished without hiring addi- tional staff. There being no further testimony, public hearing was closed. e Mr. Obie moved, seconded by Ms. Schue, that the council formally adopt the goals and criteria for the CDBG-funded economic develop- ment program as presented in the staff memorandum of April 16, 1982, (Attachment "A" of the April 26, 1982, memo) and as outlined by Ms. Hofmann; that the council approve in concept the RFP process presented in the memorandum of April 26, 1982, from the Council Subcommittee on Economic Development and the Joint CDcl EDTT Subcommittee, as outlined by Ms. Hofmann, which includes consideration of the business assistance proposal and solicits other project ideas. Mr. Lindberg urged support for Mr. Obie's motion and said he felt that the process outlined provides good opportunity for citizen input, while maximizing impact on economic development. Roll call vote; motion carried unanimously. B. Rezonings 1. Property located between Portland and Willamette streets, south of 29th Avenue from R-3 Multiple-Family Residential District (Tax Lots 7900 and 8100) and R-2/10A Limited Multiple-Family District with a density limitation of ten units per acre (Tax Lot 8200) to c-2/sR Community Commercial District with Site Review procedures (Wiper Investments) (Z 82-1) (map, background information distributed) Mr. Gleason introduced Jim Croteau, Planning. Mr. Croteau said that the prop- erty which was the subject of this request is located southwest of the corner of 29th Avenue and Willamette Street. He said that property to the north of the subject site is zoned commercial and developed with a bank, a repair garage, and a service station. He said that the subject site has for some time been used by those businesses as a parking area. Mr. Croteau said that the property to the e MINUTES--Eugene City Council April 26, 1982 Page 5