City of Racine - File #: Res.15-0299

• File #: Res.15-0299
• Version: A
• Name: (CDBG) Small Business Development - Revolving Loan Fund
• Type: Resolution
• Status: Passed
• File created: 7/21/2015
• In control: City Attorney's Office
• Final action: 7/21/2015
• Title: (CDBG) Small Business Development - Revolving Loan Fund Resolved, that the request to establish a CDBG Small Business Development - Revolving Loan Fund is approved; and That the Mayor, City Clerk, and Director of City Development are authorized to execute a written agreement with the Redevelopment Authority of the City of Racine consistent with federal regulations for $371,454.00 of CDBG funds for the purpose of creating and administering a CDBG Small Business Development Revolving Loan Fund. Fiscal Note: The Community Development Committee and the Common Council allocated $371,454.00 of CDBG funds for the purposes of assisting businesses through the 2015 Annual Plan, and, as such, there are sufficient resources available to fund this project.
• Sponsors: Dennis Wiser
• Related files: 15-00626

Date	Ver.	Action By	Action	Result
7/21/2015	A	Common Council	Adopted	Pass

Sponsor

Alderman Wiser

Title

(CDBG) Small Business Development - Revolving Loan Fund

Resolved,  that the request to establish a CDBG Small Business Development - Revolving Loan Fund is approved; and That the Mayor, City Clerk, and Director of City Development are authorized to execute a written agreement with the Redevelopment Authority of the City of Racine consistent with federal regulations for $371,454.00 of CDBG funds for the purpose of creating and administering a CDBG Small Business Development Revolving Loan Fund.

Fiscal Note: The Community Development Committee and the Common Council allocated $371,454.00 of CDBG funds for the purposes of assisting businesses through the 2015 Annual Plan, and, as such, there are sufficient resources available to fund this project.