File #: 17-0793    Name:
Type: General Agenda Item Status: Passed
File created: 7/17/2017 In control: Board of Supervisors
On agenda: 8/29/2017 Final action: 8/29/2017
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), retroactive to July 1, 2017; b. Authorize the Director of Economic Development Department to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for the period of five (5) years, retroactive to July 1, 2017 through June 30, 2022, in the amount not to exceed $150,000 annually or $750,000 during the term of the agreement.
Attachments: 1. Board Report, 2. Attachment A - Agreement More Than 100,000, 3. Exhibit A - Scope of Services Payment Provisions, 4. Exhibit B Attachment 1 - RFP 10598 _SBRLF Program Administrator, 5. Exhibit C - SBRLF Administrative Manual, 6. Exhibit D - EDA RLF Standard Terms and Conditions May 2013, 7. Exhibit E - CCS Executed Agreement, 8. Completed Board Order
Related files: RES 22-070, A 22-232, A 22-379
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), retroactive to July 1, 2017;
b. Authorize the Director of Economic Development Department to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for the period of five (5) years, retroactive to July 1, 2017 through June 30, 2022, in the amount not to exceed $150,000 annually or $750,000 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), retroactive to July 1, 2017;
b. Authorize the Director of Economic Development Department to execute an Agreement with the California Coastal Rural Development Corporation (CCRDC) for the period of five (5) years, retroactive to July 1, 2017 through June 30, 2022, in the amount not to exceed $150, 000 annually or $750,000 during the term of the agreement.

SUMMARY:
The recommended action will authorize California Coastal Rural Development Corporation to continue as the Program Administrator providing day-to-day management of the County's Small Business Revolving Loan Fund (SBRLF) retroactive to July 1, 2017 when the last agreement lapsed.

DISCUSSION:
The County, through various Program Administrators, has operated the SBRLF since 1990. The SBRLF is designed to bolster job creation and retention by providing capital to small and start-up businesses that either cannot get financing or financing on terms that make their project feasible. Since the time the County funded its first loan, the SBRLF has provided more than $9.1 million dollars in financing to more than 125 small businesses and supported the creation or retention of more than 1,000 jobs. County s...

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