Economic Development Subcommittee report by Councilor Samaras. He invites Jim Cook, of Lowell Plan and Lowell Development and Finance Corp, to introduce some of the entrepreneurs receiving financial assistance from LDFC. Local banks and credit unions have put up $1 mil for a loan fund to help finance new companies that have emerged from the UMass Lowell business incubator at 110 Canal Street. The first company is Horsepower Technology which provides animal care products. The second company creates a system that provides additional information to cancer patients who have just had a biopsy to provide them with additional information that will assist in their treatment. The third company is Invisaware makes “smart jewelry” and accessories that sends emergency text messages to the police or friends and relatives.

Request for traffic light at Perkins St and Aiken Ave from a citizen who speaks on the matter. Referred to city solicitor.

Alison Laraba addresses the council, thanking them for their public service to the city, singling out councilors who supported keeping Lowell High in downtown. She then asks the councilors to respect the will of the voters as expressed in the non-binding referendum held on election day. Communication referred to city manager.

Communication from City Auditor for July to October expenditures.

Public Hearings

Amend local ordinance to increase the exemption for real estate taxes for Veterans Organization to $1.5mil. Several veterans speak in favor. Enacted by council.

Motions

1. Samaras – Req. City Mgr. investigate and report on any problem activities in the vicinity of Kirk and Merrimack Streets as well as Merrimack and Central Streets.
2. Kennedy – Req. City Mgr. install a four-way stop sign at the intersection of Havilah and Remington Streets.
3. Kennedy – Req. City Mgr. instruct the proper department to provide the City Council and the School Committee with the schedule of regular periodic maintenance at all schools in Lowell.

Council adjourns at 8:04 pm.