City of Racine - File #: Res.12-3118

• File #: Res.12-3118
• Version: A
• Name: Revolving loan fund
• Type: Resolution
• Status: Passed
• File created: 5/1/2012
• In control: City Attorney's Office
• Final action: 5/1/2012
• Title: Revolving loan fund Resolved, that the strategy and operational plan for the revolving loan fund as documented in theTitle IX Revolving Loan Fund Plan, dated January 31, 2012, is approved. Fiscal Note: The revolving loan fund (RLF) is being recapitalized with a recent award of $500,000 from the U.S. Economic Development Authority (EDA) and a previously approved commitment of $500,000 from the City of Racine. Receipt of the EDA funds is contingent on approval of the City of Racine's adoption of the RLF strategy and operational plan.
• Sponsors: Q.A. Shakoor II
• Related files: 12-7545

Date	Ver.	Action By	Action	Result
5/1/2012	A	Common Council	Adopted	Pass

Sponsor

Alderman Shakoor

Title

Revolving loan fund

Resolved, that the strategy and operational plan for the revolving loan fund as documented in theTitle IX Revolving Loan Fund Plan, dated  January 31, 2012, is approved.

Fiscal Note: The revolving loan fund (RLF) is being recapitalized with a recent award of $500,000 from the U.S. Economic Development Authority (EDA) and a previously approved commitment of $500,000 from the City of Racine. Receipt of the EDA funds is contingent on approval of the City of Racine's adoption of the RLF strategy and operational plan.