City of Racine - File #: 15-00626

• File #: 15-00626
• Version: A
• Name: Consideration of the Community Development Block Grant (CDBG) Economic Development Over-the-Counter Program. (RES. No.15-0299)
• Type: Communication
• Status: Committee Report To Council
• File created: 7/10/2015
• In control: Redevelopment Authority of the City of Racine
• Final action: 7/21/2015
• Title: Subject: (Direct Referral) Consideration of the Community Development Block Grant (CDBG) Small Business Development - Revolving Loan Fund. (RES. No.15-0299) Recommendation of the Redevelopment Authority on 7-14-15: That the request to establish a CDBG Small Business Development - 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 $371,454.00 of CDBG funds for the purpose of creating and administering a CDBG Small Business Development Revolving Loan Fund. Recommendation of the Community Development Committee on 7-16-15: That the request 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 $371,454.00 of CDBG funds for the purpose of crea...
• Related files: Res.15-0299

Date	Ver.	Action By	Action	Result
7/21/2015	A	Common Council	Approved as Presented	Pass
7/16/2015	A	Community Development Committee	Recommended For Approval	Pass
7/14/2015	A	Redevelopment Authority of the City of Racine	Recommended For Approval	Pass

Title

Subject: (Direct Referral) Consideration of the Community Development Block Grant (CDBG) Small Business Development - Revolving Loan Fund. (RES. No.15-0299)

Recommendation of the Redevelopment Authority on 7-14-15: That the request to establish a CDBG Small Business Development - 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 $371,454.00 of CDBG funds for the purpose of creating and administering a CDBG Small Business Development Revolving Loan Fund.

Recommendation of the Community Development Committee on 7-16-15: That the request 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 $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.