Sanders told the
"I don't want to be negative, but the city has gone through a very rough patch with these loans. The guarantees have been of no value," he said. "If we are able to reintroduce it any way, we would want to do it in a very selective way and be the lender of last resort."
The assessment was prompted by a proposal for a more stringent loan application, which was drawn up by Economic Development Director
Craig, though, also said that he couldn't foresee originating any new RLF loans in the near future. "I tell people the city isn't currently lending based on the portfolio," he said.
The discussion came the same evening that the committee voted to accept the latest write-off of a delinquent loan,
At one point last year, close to half of the nearly
"I don't even think we should be doing this," he said. "I don't see why we should be in this business altogether."
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