HomeMy WebLinkAboutMINUTES - 10242000 - C55 TO: BOARD OF SUPERVISORS
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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