File #: A 22-379    Name: Approve Amendment No. 2 CCRDC
Type: BoS Agreement Status: Passed
File created: 7/5/2022 In control: Board of Supervisors
On agenda: 7/12/2022 Final action: 7/12/2022
Title: a. Approve retroactively a Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF), extending the term of the Agreement on a month-to-month basis for the period of July 1, 2017, through August 31, 2022, for a total not to exceed $2,535,000; and b. Authorize the Contracts/Purchasing Officer or designee, to execute Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) for Agreement No. A-13709.
Attachments: 1. Board Report, 2. Amendment to Agreement No.2 California Coastal Rural Development Corporation, 3. Exhibit A - Scope of Services Payment Provisions, 4. Exhibit B - SBRLF Administrative Manual, 5. Exhibit C - Prop Amend to Admin Manual, 6. Exhibit D-SBRLF_Specific Award Conditions_Monterey CARES RLF, 7. Exhibit E- 8-29-17 CCRDC Agreement, 8. Exhibit F- 8-29-17 CCRDC Board Order, 9. Exhibit G-Board Order Item No RES 22-103, 10. Exhibit H-Resolution Item No 22-103, 11. Exhibit I - Completed Board Order Item No. 22-232, 12. Completed Board Order Item No. 59
Related files: 17-0793, A 22-232
Title
a. Approve retroactively a Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF), extending the term of the Agreement on a month-to-month basis for the period of July 1, 2017, through August 31, 2022, for a total not to exceed $2,535,000; and
b. Authorize the Contracts/Purchasing Officer or designee, to execute Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) for Agreement No. A-13709.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Approve retroactively a Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) to manage the day-to-day operation of the County's Small Business Revolving Loan Fund (SBRLF), extending the term of the Agreement on a month-to-month basis for the period of July 1, 2017, through August 31, 2022, for a total not to exceed $2,535,000; and
b. Authorize the Contracts/Purchasing Officer or designee, to execute Renewal and Amendment #2 to the Agreement with California Coastal Rural Development Corporation (CCRDC) for Agreement No. A-13709.

SUMMARY/DISCUSSION:
The County of Monterey has managed a Small Business Revolving Loan Fund (SBRLF) since 1989. The SBRLF is available to assist businesses throughout the County. On May 8, 2020, U.S. Economic Development Administration invited the County of Monterey to apply for additional federal funding to recapitalize the SBRLF and make additional amendments to its Administrative Plan that will enable the program to be more responsive to local small business financing requirements during the current public health crisis.

The County funded the first Small Business Revolving Loan Fund in October 1990 capitalizing the loan pool with an investment by the County of $383,301 and U.S. Economic Development Administration grants tota...

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