MILLINOCKET ? Though they found parts of it lacking, Town Council members will study Councilor David Cyr’s proposal to boost economic development by revitalizing the town’s small business revolving loan program, hiring a part-time economic development consultant and creating an industrial park.

Councilors were guarded but favorable toward Cyr’s 15-minute proposal on Thursday night and agreed to schedule a workshop to study the proposal further. No date has been set.

“I thought it was a great presentation,” Chairman John Davis said, “but I agree that we need more specifics.”

“There are pieces of this that are not totally out of the ballpark,” said Councilor Gail Fanjoy.

“What we need is a next step, perhaps a workshop or something,” Councilor David Nelson said.

Cyr’s ideas included injecting about $250,000 of the town’s $3.1 million undesignated fund balance into the town’s semidormant revolving loan fund for small business loans. He pitched it to the council as a chance to give back to the people what had gone to town government as part of overtaxation from several years past.

Attorney Dean Beaupain, who often represents the town in legal matters, said he found the idea sound, though very risky since most startup businesses fail. He suggested that for it to work, the council should revive its loan committee and devise loan criteria.

Cyr said the consultant would be paid no more than $30,000 annually and would assist Town Manager Eugene Conlogue in drawing and retaining new businesses in town. The consultant would help businesses with startup proposals and with securing grants and other funding, Cyr said.

Although he and Cyr have quarreled about the town’s economic direction in the past, Bruce McLean, executive director of MAGIC, the Millinocket Area Growth and Investment Council, liked that idea. He questioned whether a $30,000 salary could draw in a qualified a candidate but suggested a consultant working between himself and Conlogue could be useful.

Saying that at least five startup businesses had left town because of a lack of affordable land, Cyr proposed an industrial park to which the town would provide utilities.

The town loses business, Cyr said, because selling prices are too high and the land lacks utilities. An industrial park similar to those in Medway and other towns would change that. He advocated setting aside $150,000 of the undesignated fund balance for the land purchase, an amount McLean said would be too low for a sizable buy.

Councilor Jimmy Busque declared he fully supported a land purchase.

Cyr was pleased with the presentation’s reception, saying most councilors seemed open-minded, though not crazy, about the idea.