City of Racine - File #: 0341-22

• File #: 0341-22
• Version: A
• Name: Amendment to the CDBG Mico-Enterprise Assistance
• Type: Communication
• Status: Passed
• File created: 5/6/2022
• In control: Community Development Block Grant Advisory Board
• On agenda: 5/17/2022
• Final action: 5/17/2022
• Title: Subject: Communication sponsored by Mayor Mason regarding an amendment to the CDBG Micro-Enterprise Assistance contract with Legacy Redevelopment Corporation for the existing 2020 CDBG allocation

Date	Ver.	Action By	Action	Result
5/17/2022	A	Common Council	Approved as Presented	Pass
5/9/2022	A	Community Development Block Grant Advisory Board	Recommended For Approval	Pass

Title

Subject: Communication sponsored by Mayor Mason regarding an amendment to the CDBG Micro-Enterprise Assistance contract with Legacy Redevelopment Corporation for the existing 2020 CDBG allocation

Recommendation of the CDBG Advisory Board on 5/9/2022: To approve the contract amendment to allow for loan products to be shifted from amortizing loans to five-year forgivable loans with required technical assistance.

Fiscal Note: The total CDBG budget will remain unchanged.