revolving loan fund
Loans, rules, fund balances, and lending plans for local businesses.
What to Watch
The committee is scheduled to receive a Renee’s Popcorn project update on Sept. 22, including whether the stated site-clearing and steel-framing conditions have been met.
Coming Up
Typically discussed at Business and Industrial Development Committee - Community Development Authority. Check back when the next agenda is published.
The Story
The committee voted 7-0, with one abstention, to require Renee’s Popcorn to clear its site before the city conveys property. It also delayed a mortgage-transfer approval until steel framing is ordered, paid for and documented at City Hall. The city is separately reviewing the rules for its business loan fund.
Key Decisions
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passed 0-0 Business and Industrial Development Committee - Community Development Authority · Aug 11, 2026 Discussion of timeline on disbursement of funds for Renee’s Popcorn 1. Approval of conveyance of property 2. Approval of assumption of mortgage
Motion that the conveyance of the property will occur after Renee’s Popcorn completes clearing the site in anticipation of construction and the assumption of the remaining mortgage for its property at 2716 Memorial Drive will occur after the steel framing is ordered, paid for, and proof of payment is submitted to City Hall
Katherine Dahlke Abstain -
passed Business and Industrial Development Committee - Community Development Authority · Jan 27, 2026 Review of lending activity with the Two Rivers Revolving Loan Fund
Motion to reinstate the previous job’s requirement criteria of the RLF
Record
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The committee reviewed Revolving Loan Fund and TIF district balances, current commitments, remaining lending capacity, and lending strategy; no action was taken.
Business and Industrial Development Committee - Community Development Authority -
The committee voted unanimously to reinstate a requirement that Revolving Loan Fund applicants show they will create jobs with borrowed money.
Business and Industrial Development Committee - Community Development Authority -
Staff reported that the Revolving Loan Fund balance was just over $1 million.
Business and Industrial Development Committee - Community Development Authority -
Staff reported three active loans being repaid by VT Industries, Pop Start Pizza and Violet Inn.
Business and Industrial Development Committee - Community Development Authority -
Staff identified possible 2026 work to analyze and potentially end underperforming TIF districts.
Business and Industrial Development Committee - Community Development Authority -
Staff noted discussion of a possible city acquisition of the former Hamilton’s property and referenced a Dec. 2 status meeting.
Business and Industrial Development Committee - Community Development Authority -
The committee reviewed the Revolving Loan Fund manual, last adopted in 2019, and generally agreed it was solid.
Business and Industrial Development Committee - Community Development Authority -
Staff planned to circulate an editable version of the loan-fund manual and give committee members about a month to suggest changes.
Business and Industrial Development Committee - Community Development Authority -
The agenda included updates on possible Revolving Loan Fund requests involving Cool City Motel and a potential downtown restaurant.
Business and Industrial Development Committee - Community Development Authority -
The committee again reviewed the Revolving Loan Fund manual, including the program’s purpose and current active loans; no action was taken.
Business and Industrial Development Committee - Community Development Authority -
The committee discussed the timing of previously approved Revolving Loan Fund-related steps for Renee’s Popcorn. Staff said several prerequisites must be completed before funds can be disbursed.
Business and Industrial Development Committee - Community Development Authority -
The committee voted to make conveyance of property to Renee’s Popcorn contingent on the company clearing the site.
Business and Industrial Development Committee - Community Development Authority -
The committee voted 7-0, with one abstention, to delay approval of Renee’s Popcorn assuming a mortgage until steel framing is ordered, paid for and documented at City Hall.
Business and Industrial Development Committee - Community Development Authority -
The committee reviewed the Revolving Loan Fund manual, discussed the program’s purpose and current active loans, and took no action.
Business and Industrial Development Committee - Community Development Authority