File #: A 22-466    Name: Standard Agreement
Type: BoS Agreement Status: Passed
File created: 8/18/2022 In control: Board of Supervisors
On agenda: 8/30/2022 Final action: 8/30/2022
Title: a. Approve Standard Agreement with the California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF); and b. Authorize the County Contracts/Purchasing Officer or designee to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for a five (5) year term, from September 1, 2022 through June 30, 2027, in an amount not to exceed $725,000 during the term of the agreement.
Attachments: 1. Board Report, 2. Standard Agreement, 3. Exhibit A - Scope of Services Payment Provisions, 4. Exhibit B - RFP10863_SBRLF Program Adminitrator, 5. Exhibit C - SBRLF Administrative Manual, 6. Exhibit D - EDA RLF Standard Terms and Conditions May 2013, 7. Completed Board Order Item No. 54
Title
a. Approve Standard Agreement with the California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF); and
b. Authorize the County Contracts/Purchasing Officer or designee to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for a five (5) year term, from September 1, 2022 through June 30, 2027, in an amount not to exceed $725,000 during the term of the agreement.

Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve Standard Agreement with the California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF); and
b. Authorize the County Contracts/Purchasing Officer or designee to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for a five (5) year term, from September 1, 2022 through June 30, 2027, in an amount not to exceed $725,000 during the term of the agreement.

SUMMARY/DISCUSSION:
The County of Monterey operates the Small Business Revolving Loan Fund (SBRLF). The SBRLF assist businesses throughout the County. The recommended action will authorize California Coastal Development Corporation to continue as the Program Administrator providing day-to-day management of the SBRLF.
The County funded the SBRLF in October 1990 by capitalizing the loan pool with an investment by the County of $383,301 and U.S. Economic Development Administration grants totaling $1,533,205. The original capital pool has revolved 5.5 times since 1990 and resulted in loans totaling nearly $10.6 million. The County's investment has leveraged public (Small Business Administration) and private investment of more than $19 million in these businesses and led to the creation or retention of almost 1,200 full-time equivalent jobs in the County of Monterey.
Historically, the County has used an outside Program ...

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