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Page 3. <br /> Human Resources and Economic Development <br /> an additional would he proposed at a later date for the LDC. <br /> Councilman Beck stated that the "more she heard the less she liked" . <br /> The Council Attorney voiced legal concern over the present wording <br /> of Bill No. 86-82 . She noted that although an LDC could be established <br /> under Home Rule Legislation, that to eliminate Common Council approval <br /> over expenditures "flew in the face of balancing the authority of the <br /> City administration and the City legislature under Home Rule" . <br /> Councilman McGann stated that he had very similar concerns to those <br /> voiced by the other councilmembers , and stated that he would only support <br /> such action if: <br /> 1) . 50% of the board of the LDC would be appointed by the <br /> Common Council;and <br /> 2) . That the Common Council would have bottom-line approval <br /> of all money. <br /> Following further discussion Councilman McGann made a motion seconded <br /> by Councilman Crone that discussion of Bill Nos . 86-82 and 88-82 be continued <br /> until further information could be provided by the City Administration and <br /> proper amendatory language be prepared. The motion passed 3-0. <br /> Councilman McGann questioned "equity investment" language contained in <br /> Bill No. 88-82 . <br /> Mr. Crone stated that there may be an urgency to proceed ahead however <br /> that all legal responsibilities should be properly reviewed in light of the <br /> Home Rule Legislation and federal law. <br /> Councilman Harris voiced his concern over keeping Robertsons <br /> Councilman Crone questioned whether there were any other LDC' s in the <br /> community? To date there are none however as presently written the money <br /> could be given to any qualified LDC . Upon questioning, Mr. Horton stated <br /> that he believed that Evansville does make direct loans. <br /> Eugenia Swartz then gave further background information behind Bill No. <br /> 86-82 . She noted that the Articles of Incorporation were approved on <br /> 8-18-82 . <br /> Councilman Voorde summarized the committee meeting by stating that the <br /> Council has a deep concern to do all that is right and necessary to save <br /> Robertsons . However since we were in a new area of legislation, that each <br /> of the concerns raised by the Committee should be carefully reviewed. Meeting <br /> was adjourned at 6: 30 p .m. <br /> Resp lly Su fitted, <br /> Jo oorde, Chairman <br /> Human Resources and Economic <br /> Development <br />