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Loan Request of Petals by Felicia
WHEREAS, the Wisconsin Women’s Business Initiative Corporation (WWBIC) has reviewed the request of Petals by Felicia for a loan of $25,000.00 for working capital, inventory, and minor leasehold improvements.
THEREFORE BE IT RESOLVED, that the Mayor, City Clerk, and Director of City Development are authorized to execute a written agreement with Petals by Felicia consistent with federal regulations for CDBG funds with loan assistance not to exceed $25,000.00 for the purpose of expanding the business and creating at least one job.
Fiscal Note: The Community Development Committee and Common Council allocated CDBG funds for the purposes of assisting businesses through 2015 Annual Plan, and there are sufficient resources available to fund this project.
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