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File #: Res.0060-16    Version: A Name: Loan Request of Petals by Felicia
Type: Resolution Status: Official Text (Legal Use)
File created: 2/17/2016 In control: City Attorney's Office
On agenda: 2/17/2016 Final action: 2/17/2016
Title: 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.
Sponsors: James Morgenroth
Related files: 0122-16

Sponsor

Alderman Morgenroth

 

Title

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.