City of Racine - File #: 0962-18

• File #: 0962-18
• Version: A
• Name: (Res. 0305-18)
• Type: Communication
• Status: Passed
• File created: 9/14/2018
• In control: Community Development Committee
• Final action: 10/2/2018
• Title: Subject: (Direct Referral) Request for creation of the Community Development Block Grant (CDBG) Microenterprise - Revolving Loan Fund. Recommendation of the Community Development Committee on 9-20-2018: That the request to establish a CDBG Microenterprise - Revolving Loan Fund be approved, and; that the Mayor, City Clerk, and Director of City Development be authorized to execute a written agreement with the Redevelopment Authority of the City of Racine consistent with federal regulations for $62,700.00 of CDBG funds for the purpose of creating and administering a CDBG Microenterprise Revolving Loan Fund. Fiscal Note: The Community Development Committee and the Common Council allocated $62,700.00 of CDBG funds for the purposes of assisting microenterprises through the 2018 Annual Action Plan, and, as such, there are sufficient resources available to fund this project.
• Related files: Res.0305-18

Date	Ver.	Action By	Action	Result
10/2/2018	A	Common Council	Approved as Presented	Pass
9/20/2018	A	Community Development Committee	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Request for creation of the Community Development Block Grant (CDBG) Microenterprise - Revolving Loan Fund.

Recommendation of the Community Development Committee on 9-20-2018: That the request to establish a CDBG Microenterprise - Revolving Loan Fund be approved, and; that the Mayor, City Clerk, and Director of City Development be authorized to execute a written agreement with the Redevelopment Authority of the City of Racine consistent with federal regulations for $62,700.00 of CDBG funds for the purpose of creating and administering a CDBG Microenterprise Revolving Loan Fund.

Fiscal Note: The Community Development Committee and the Common Council allocated $62,700.00 of CDBG funds for the purposes of assisting microenterprises through the 2018 Annual Action Plan, and, as such, there are sufficient resources available to fund this project.