The Charleston City Council will look at business development Wednesday.

The council could approve a resolution to meet new state requirements for a loan fund that assists local business growth.

The resolution has been on file for inspection since the Oct. 7 meeting when Mayor Dan Cougill said the city would be required to establish a committee to stay involved with the revolving loan fund recapture strategy. That committee must be composed of the mayor, community development director Jeff Finley, city attorney Brian Bower and two experienced financial commercial bankers.

The fund works with expanding prospective local businesses.

“The business comes to us, we go to the state and get the money, loan it out and it is paid back plus a low interest rate,” Cougill said. “The money we get back is added to the revolving loan fund for future loans.”

Also up for approval following public inspection is a lease agreement with the East Central Illinois Antique Tractor Club.

The city is exchanging land near the waste water treatment plant for one-third of the profits received from the club’s crop harvest on the land. Cougill said the club plans to plant crops and harvest them using antique equipment for its annual event scheduled July 16-18 of next year.

An expenditure of $6,500 in tourism funds is up for approval as well.

The antique farm club will receive $1,500 for its event, $2,000 would go to “Christmas in the Heart of Charleston” and $3,000 for the Charleston Visitor’s Guide, Cougill said.

Street closure for the “Christmas in the Heart of Charleston” event Dec. 6 is on the agenda for council authorization.

Streets surrounding the square would be closed for the event from noon until 9 p.m.

“It’s a big event,” Cougill said. “It is a lot of fun.”

The annual celebration features holiday window displays at businesses around the square, “The Nutcracker Suite” performed by local dancers and a visit from Santa Claus.

Council will award the lowest bidder a contract for the upcoming year’s annual street resurfacing.

The city resurfaces different sections every year.

Cougill said this year resurfacing will take place on Third Street from Lincoln to Polk Avenues, Fox Crest Drive north of Polk Avenue, Stratford Drive west of Fox Crest, Sherwood Drive north of Stratford and Phillips Place west of Rennels Drive.

Also on the agenda is the creation of an alliance between Coles County, Mattoon, Charleston, Coles Together and the Charleston and Mattoon Chambers of Commerce.

Members of the groups have been meeting to establish guidelines on roles and responsibilities of each group in best serving county residents and businesses, Cougill said.

“It is not so much a binding document as it is an acknowledgment of roles and responsibilities.”

A group comprised of the mayors of Mattoon and Charleston, president and president elect of the chambers, president and vice president of Coles Together and chairs of the County Board will meet periodically to set goals and make sure those goals are being met.

A second group of executives from each group will then meet to make sure the goals are accomplished, Cougill said.

Council will also address authorization of a land agreement for home access on the Charleston Bicycle and Recreation Trail.

Council will meet at 7 p.m. Wednesday in the council chambers of Charleston City Hall, 520 Jackson Avenue.

City editor Carly Mullady can be reached at [email protected]