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File #: 210184    Version: Name: Establishment of Small Business Emergency Relief Program - Not to Exceed $7,300,000 Funding/Loan Agreements - California Rebuilding Fund, LLC - Expected Amount $4,200,000 - Funding/Grant Agreements - Kiva Microfunds - Expected Amount $3,100,000
Type: Resolution Status: Pending Committee Action
Introduced: 2/23/2021 In control: Budget and Finance Committee
On agenda: Final action:
Enactment date: Enactment #:
Title: Resolution 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 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.
Sponsors: Mayor, Catherine Stefani
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agmt, 3. DRAFT Grant Agmt, 4. SBC Referral 040521, 5. Form 126 - Calif Rebuilding Fund, 6. Form 126 - Kiva Microfunds, 7. BLA Report 041421, 8. Comm Pkt 041421, 9. Leg Ver2, 10. BLA Report 042121, 11. Comm Pkt 042121, 12. Grant Agreement - Kiva, 13. PRI Loan Agreement - California Rebuilding Fund
Legislation Details
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