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Past loans have taken between three and eighteen months to process, with the length of time <br />mainly being a function of businesses readiness. With funding included in the FY 2012 -13 <br />budget, direction from the Committee regarding programs to be funded will allow staff to begin <br />working with interested businesses now on projects to be funded in the next fiscal year. <br />Staff provides updates to the Committee as projects are designed and approved. Larger projects, <br />those over $10,000 are brought to the Committee for direction. As the matching funds are less <br />than $50,000, the agreements are handled at the Committee level. <br />Staff recommends the Community Development Committee provide direction to continue these <br />programs and create of a new Broadband Connection program to facilitate businesses in <br />connecting to the internet. <br />C: \Granicus \Packet \1152_City Council 5 21 2012 \0009 5 49853510 - 7200 - 4104- b86c- cc70751b89d9.docx <br />