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0962-18
| A | | (Res. 0305-18) | Communication | Subject: (Direct Referral) Request for creation of the Community Development Block Grant (CDBG) Microenterprise - Revolving Loan Fund.
Recommendation of the Community Development Committee on 9-20-2018: That the request to establish a CDBG Microenterprise - 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 $62,700.00 of CDBG funds for the purpose of creating and administering a CDBG Microenterprise Revolving Loan Fund.
Fiscal Note: The Community Development Committee and the Common Council allocated $62,700.00 of CDBG funds for the purposes of assisting microenterprises through the 2018 Annual Action Plan, and, as such, there are sufficient resources available to fund this project. | Recommended For Approval | Pass |
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