APPROVING COMMUNITY DEVELOPMENT BLOCK GRANT

Committee Status: 
Approved
Budget Status: 
No Fiscal Impact
Decision Impact: 
Routine
FTE Impact: 
No
Funding Source: 
Grant

Purpose

approval of dispersal of CDBG funds

Resolution Files: 
Microsoft Office document icon resolution_0.doc

Resolution Body

RESOLUTION No. ___ - 13

 

APPROVING COMMUNITY DEVELOPMENT BLOCK GRANT

REVOLVING LOAN FUND

 

            WHEREAS, Resolution 75-04 created the countywide Revolving Loan Fund for the purpose of supporting economic development efforts on a countywide basis; and,

 

            WHEREAS, the purpose of the fund is to offer business loans to those seeking to expand or create new operations; and,

 

            WHEREAS, a total of $453,053 is available in the Revolving Loan Fund for distribution to applicants; and,

 

            WHEREAS, after due consideration, the Revolving Loan Fund Committee has recommended that a loan in the amount of $87,500 be made to Lacey and Steve Steffes, d.b.a. Spa Serenity, LLC, as the proposal is consistent with the intent of the Revolving Loan Fund.

 

            NOW, THEREFORE, BE IT RESOLVED, that the Sauk County Board of Supervisors, met in regular session, does authorize the distribution of $87,500 in Community Development Block Grant – Revolving Loan Funds to the aforementioned small business owners; and,

 

            BE IT FURTHER RESOLVED, that the Revolving Loan Fund Committee is authorized to negotiate the loan terms consistent with the Revolving Loan Fund manual; and,

 

            BE IT FURTHER RESOLVED, that the Revolving Loan Administrator is hereby authorized to sign all necessary documents on behalf of the County of Sauk in accordance with this resolution.

 

For consideration by the Sauk County Board of Supervisors on September 17, 2013.

 

 

Respectfully submitted,

 

REVOLVING LOAN FUND COMMITTEE

 

______________________________________        ___________________________________

TOMMY LEE BYCHINSKI, Chairperson                    MYRON LAROWE

 

_____________________________________                      ___________________________________

JASON LANE                                                             JOHN “JACK” SCHLUTER

 

____________________________________            ___________________________________

JULIE ALIBRANDO                                                   PATRICIA YANKE

 

_____________________________________

THOMAS FLEMING

 

Fiscal Note:  Funds to be expended from the CDBG-RLF account.  The current balance of the Revolving Loan Fund is $453,053.

MIS Note:  Not Applicable

RESOLUTION No. ___ - 13

 

APPROVING COMMUNITY DEVELOPMENT BLOCK GRANT

REVOLVING LOAN FUND

 

            WHEREAS, Resolution 75-04 created the countywide Revolving Loan Fund for the purpose of supporting economic development efforts on a countywide basis; and,

 

            WHEREAS, the purpose of the fund is to offer business loans to those seeking to expand or create new operations; and,

 

            WHEREAS, a total of $453,053 is available in the Revolving Loan Fund for distribution to applicants; and,

 

            WHEREAS, after due consideration, the Revolving Loan Fund Committee has recommended that a loan in the amount of $87,500 be made to Lacey and Steve Steffes, d.b.a. Spa Serenity, LLC, as the proposal is consistent with the intent of the Revolving Loan Fund.

 

            NOW, THEREFORE, BE IT RESOLVED, that the Sauk County Board of Supervisors, met in regular session, does authorize the distribution of $87,500 in Community Development Block Grant – Revolving Loan Funds to the aforementioned small business owners; and,

 

            BE IT FURTHER RESOLVED, that the Revolving Loan Fund Committee is authorized to negotiate the loan terms consistent with the Revolving Loan Fund manual; and,

 

            BE IT FURTHER RESOLVED, that the Revolving Loan Administrator is hereby authorized to sign all necessary documents on behalf of the County of Sauk in accordance with this resolution.

 

For consideration by the Sauk County Board of Supervisors on September 17, 2013.

 

 

Respectfully submitted,

 

REVOLVING LOAN FUND COMMITTEE

 

______________________________________        ___________________________________

TOMMY LEE BYCHINSKI, Chairperson                    MYRON LAROWE

 

_____________________________________                      ___________________________________

JASON LANE                                                             JOHN “JACK” SCHLUTER

 

____________________________________            ___________________________________

JULIE ALIBRANDO                                                   PATRICIA YANKE

 

_____________________________________

THOMAS FLEMING

 

Fiscal Note:  Funds to be expended from the CDBG-RLF account.  The current balance of the Revolving Loan Fund is $453,053.

MIS Note:  Not Applicable

Committee Review 1: 
Pending
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