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ORDINANCE #951 - POSITION CLASSIFICATION/SALARY STRUCTURE - <br />PUBLIC HEARING Introduced on second reading by title only, <br />Ordinance #951, "An Ordinance amending Title 2, <br />Chapter 2.68 of the Louisville Municipal Code <br />concerning position classifications, and salary <br />schedule." David Stahl recommended that this <br />ordinance be dropped and the subject taken up on a <br />comprehensive basis during the budget process. <br />Upon staff's recommendation, there was no motion <br />to approve Ordinance #951 on second reading. <br />LAFAYETTE-LOUISVILLE DOWNTOWN REVITALIZATIC)N'S COMMUNITY DEVELOPMENT <br />BLOCK GRANT APPLICATION - <br />PUBLIC HEARING Stahl stated that the LLDR is requesting 1988 <br />Community Development Block Grant funds to expand <br />its Revolving Loan Fund, and tonight is the Public <br />Hearing to con:~ider the request.-Proof of <br />publication and :notice of public hearing were <br />certified . <br />Mayor Fauson opened the Public Hearing. <br />The grant funds would add $300,000 dollars to the <br />revitalization efforts with an additional request <br />for $30,000 for administration. The LLDR is <br />asking for in-ki.nd assistance in the form of <br />office, phone and staff support. <br />Betsey Martens made a detailed presentation <br />outlining future plans and past performance. <br />Since its' inception in October of 1986 the <br />committee has done well in helping small <br />businesses, job creation, and has fully met all <br />requirements in terms of promises to both city and <br />state governmer.~ts . Martens asked for any <br />questions concerning this proposal. <br />Anderson asked about the extension of boundaries. <br />Martens detailed a conversation she had with the <br />State concerning this issue. Extension of <br />downtown boundaries is something that should be <br />done outside this particular application. <br />$30,000 is requested for a full-time <br />administrator. Martens stated that until 1988, <br />she had been full-time, but this year the grant <br />money designated f'or full-time work had run out. <br />If there is a revolving loan fund of $500,000 for <br />the small businesses, the interest income and the <br />assumptions should be able to generate enough <br />funds to support t:he program for the duration--but <br />there must be a full-time staff person until the <br />fund becomes mature enough to generate this kind <br />of interest income. It was also stated that with <br />one more year, i.f more loans are made, this <br />