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Title:
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Resolution retroactively authorizing the establishment of a small business emergency financial relief program to be administered by the Office of Economic and Workforce Development (OEWD), and authorizing the Director of OEWD to enter into agreements not to exceed $7,300,000, for terms beginning April 1, 2021, through June 30, 2027, including one or more funding/loan agreements with the California Rebuilding Fund, LLC in an expected amount of $4,200,000 to facilitate the origination of loans to certain small businesses in the City but which may vary depending on available program terms and demand; and one or more funding/grant agreements with Kiva Microfunds in an expected amount of $3,100,000 to provide monies for an interest buydown fund for loans facilitated by the California Rebuilding Fund to certain small businesses in the City but which may vary depending on available program terms and demand, and to take necessary actions in connection therewith, as defined herein.
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