Any final action of the Community Development Loan Review Board shall be brought before the City Council at the next regularly scheduled Council meeting and placed upon that meeting’s agenda. All recommendations of the Board as to approval or denial of loan or grant applications shall be considered by the Council and deemed to be approved as final Council action, unless, within 30 days of the meeting, the Council by a vote of two-thirds majority of all Council members then holding office rejects the recommendation. The Council may seek additional information or request modifications from the Board of any application or recommendation, but the request shall not alter or extend the 30-day time period prescribed herein.
(1994 Code, § 36.30) (Ord. 423, passed 8-11-1992)