TO: BOARD OF SUPERVISORS
FROM: Executive Office
MEETING DATE: October 22, 2024
DEPARTMENT CONTACT:
Kelly Hansen
PHONE:
707-463-441
DEPARTMENT CONTACT:
Xuyen Mallela
PHONE:
707-463-4441
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Adoption of Resolution Approving Loan Forgiveness of the Remaining $84,829.42 Balance of Happy Rides, Inc.'s Community Development Block Grant (CDBG) Loan (PI-101) and Release of Lien on Personal Property, per the Terms of the County's 2020 COVID-19 Business Assistance and Recovery Loan Fund Program
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RECOMMENDED ACTION/MOTION:
recommendation
Adopt Resolution approving loan forgiveness of the remaining $84,829.42 balance of Happy Rides, Inc.'s Community Development Block Grant (CDBG) loan (PI-101) and release of lien on personal property, per the terms of the County's 2020 COVID-19 Business Assistance and Recovery Loan Fund Program; and authorize Chair to sign same.
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PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
On May 19, 2020, the Board of Supervisors adopted Resolution No. 20-065 approving and authorizing the CEO to submit an application for funding and execute grant agreement and any amendments thereto to receive funds from the 2019-2020 funding year of the State CDBG grant program utilizing $300,000 in Program Income.
On December 8, 2020, the Board of Supervisors adopted Resolution No. 20-165 approving the use of and authorizing the CEO to submit an application to utilize CDBG program income for establishing and funding a Business Assistance revolving loan fund and execute any agreements associated with said loan fund. With said resolution increased the updated the Program Income funds in the amount of $500,000 for the purposes of establishing a business assistance revolving loan fund.
On December 5, 2023, the Board approved Resolution 23-191, authorizing the submittal of an amendment to Mendocino County's current CDBG Program Income Standard Agreement with Housing and...
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