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HomeMy WebLinkAboutMINUTES - 10242000 - C55 TO: BOARD OF SUPERVISORS v FROM: Dennis M. Barry, AICP Community Development Director DATE: October 24, 2000 SUBJECT: Establishment of Trust Fund for the Microenterprise and Small Business Revolving Loan Funds SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION RECOMMENDATIONS DIRECT and AUTHORIZE the Auditor-Controller's Office to establish a Trust Fund for the Community Development Block Grant Microenterprise and Small Business Revolving Loan Funds. FISCAL IMPACT None BACKGROUND/REASONS FOR RECOMMENDATIONS Since 1982 the Board of Supervisors has approved the operation and/or funding of a Revolving Loan Fund using Community Development Block Grant(CDBG). On July 11, 2000 the Board of Supervisors approved new lending criteria and procedures for administering the Community Development Block Grant(CDBG)Microenterprise and Small Business Revolving Loan Funds (RLFs). The RI-Fs are now administered through the County Community Development Department, and pursuant to federal regulation the use of CDBG funds must be transacted through the County finance system. The Auditor-Controller requires Board approval to establish a Trust Fund for the RFL. CONTINUED ON ATTACHMENT: YES SIGNATURE: ,,,,/ RECOMMENDATION OF COUNTY ADMINISTRATOR REC MENDATION OF BOARD COMMITTEE APPROVE OTHER 1 SIGNATURE(S): ACTION OF BOARD ON Oc-tobgr 24. 2000 APPROVED AS RECOMMENDED OTHER VOTE OF SUPERVISORS I HEREBY CERTIFY THAT THIS IS A IL_ UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN AYES: NOES: ACTION TAKEN AND ENTERED ON THE ABSENT: ABSTAIN: MINUTES OF THE BOARD OF SUPERVISORS ON THE DATE SHOWN. Source: Belinda Smith 335-1260 ATTESTED October 24, 2000 Orig. Dept. Community Development PHIL BATCHELOR, CLERK OF cc: County Administrator THE BOARD OF SUPERVISORS Auditor-Controller AND COUNTY ADMINISTRATOR BY , DEPUTY