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Page 2 . <br /> Human Resources and Economic Development Committee <br /> that the CD monies were originally going to be used to pay back the housing <br /> 108 loan which the City is paying back at a 16+% interest rate. <br /> He also noted that the collateral on the loan would be the inventory. <br /> Councilman McGann noted that he had received several phone calls <br /> from Robertson' s employees and that one person who has worked at Robertsons <br /> for 26 years is making $4.15 per hour. <br /> Mr. Mulkey stated that the majority of the Robertson' s personnel <br /> were making $4.08 per hour all of which 'have ten years or more experience. <br /> The proposed .,.amendments prepared by the Council Attorney were then <br /> passed out to the Committee and discussed. (copy attached) <br /> Mr. Mulkey voiced further concern regarding the by-laws and the <br /> possibility that the individual departments would be leased. He stressed the <br /> need to put rules up front when public funds were to be involved. <br /> Councilman Taylor stated that if any strings are attached at all that <br /> the present investor groups would back out and we would lose Robertsons . <br /> The president of the local union representing present Robertson <br /> employees stated that a resolution had already been passed by the employees <br /> authorizing the union to sit down and negotiate concessions if necessary. <br /> Councilman. Voorde then read a variation of Section III drafted by <br /> the Council Attorney and himself. <br /> There being no concensus among the Committee, the meeting was <br /> adjourned at 5:40 p.m. upon a motion made by Councilman Crone and seconded <br /> by Councilman Taylor. The meeting was adjourned with no recommendations from <br /> the Committee on. Bill No. 88-82. <br /> Respectfully Submitted, <br /> John Voorde, Chairman <br />