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? ?. <br />Regular Council Meeting <br />1/21/91 <br />Page 5 <br />Gazebo/Villaize Davs Dates - Mayor Carmen said he hopes to be able to coordinate with <br />Recrearion. <br />Mr. Pietrafese expressed thanks to Mr. Amendola for taking the time to get the cost factor on the <br />lighring for the gazebo. , <br />NEW BUSINESS: <br />Emplovee Hospitalizarion - Mr. Rinker said that Lany Barrett will be attending the February 4 <br />Council Caucus. <br />Mr. Flynn said he would like to discuss with Mr. Barrett different plans and if he can find anything <br />else out there. <br />Mr. Rinker said there was a quesrion on the options available. <br />Mr. Patrick to contact Mr. Barrett to request information regarding oprions. <br />Mr. Rinker asked for a morion to amend the agenda to include under "New Business", the Issue <br />One Financial Assistance Offer. <br />Mr. Basile, seconded by Mr. Ferrante, made a motion to amend the agenda to include Issue One <br />Financial Assistance Offer. <br />ROLL CALL: AYES: All <br />NAYS: None Motion Carried <br />Agenda Amended <br />Issue One Financial Assistance Offer - Mayor Carmen said that we had hoped they would give us <br />the dollars outright for the Beecher's Brook stream erosion project, however, their letter advises <br />that we did not get the funds outright. They have offered us a loan to complete the project at zero <br />percent interest. Mayor Carmen said we are now in a posirion to make a rapid deternlination <br />because we must let them lalow by the 25th of this month. He said we must complete an . <br />applicarion packet if we want to accept the zero percent loan. Mayor Carmen said we must <br />determine whether we want.to accept it or pass on the offer. <br /> <br />Mr. Hovancsek clarified that the loan is for 50% of the cost of the project. <br />Mayor Carmen said, in his opinion if they would have come up with the money and said it is ours <br />it would have probably motivated him to find the other half. However, this offer is much less <br />attractive and he is not sure if the Village is in a financial position to do this at this time. <br />Mr. Hovancsek said he met with representatives from the Technical Committee last week and <br />explained the grants and loans that were given. They agreed to assist with 43 projects. He said <br />this is their third year of a 10-year grant funding program. If the loan idea does not fly, maybe <br />they will reconsider it when they plan future programs. <br />Mr. Patrick said when we get into loans, it will affect the Village's ability to borrow on long-term <br />debts.