Title
Adopt a Resolution to:
a. Authorize the County Administrative Officer or the designee to sign any documents and certifications that may be required to comply with the CARES Act revolving loan fund grant terms and conditions set by the U.S. Department of Commerce, Economic Development Administration, subject to review by the Office of the County Counsel as to form; and
b. Certify that the Small Business Revolving Loan Fund is being operated consistent with the EDA approved administrative plan; and
c. Authorize the Auditor-Controller to amend the Fiscal Year 2021-22 Adopted Budget to increase appropriations and estimated revenues by $1,760,000 for the Revolving Loan Program, 011-1050-CAO040-8516, to recognize the investment by the U.S. Department of Commerce, Economic Development Administration (EDA) in the County's Small Business Revolving Loan Fund (SBRLF) (4/5ths vote required); and
d. Authorize the Auditor-Controller's Office to incorporate approved budget modifications to the FY 2021-22 Budget, and the County Administrative Office to reflect these approved changes in the FY 2022-23 Adopted Budget.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Authorize the Assistant County Administrative Officer and/or the Economic Development Manager to sign any documents and certifications that may be required to comply with the CARES Act revolving loan fund grant terms and conditions set by the U.S. Department of Commerce, Economic Development Administration, subject to review by the Office of the County Counsel as to form; and
b. Certify that the Small Business Revolving Loan Fund is being operated consistent with the EDA approved administrative plan; and
c. Authorize the Auditor-Controller to amend the Fiscal Year 2021-22 Adopted Budget to increase appropriations and estimated revenues by $1,760,000 for the Revolving Loan Program, 011-1050-CAO040-8516, to recognize the investment by the U.S. Department of Com...
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