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File #: 210184    Version: Name: Small Business Emergency Relief Program - Retroactive - 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: Passed
Introduced: 2/23/2021 In control: Clerk of the Board
On agenda: Final action: 5/7/2021
Enactment date: 5/7/2021 Enactment #: 181-21
Title: 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.
Sponsors: Mayor, Catherine Stefani, Rafael Mandelman
Attachments: 1. Leg Ver1, 2. DRAFT Loan Agmt, 3. DRAFT Grant Agmt, 4. SBC Referral 040521, 5. BLA Report 041421, 6. Comm Pkt 041421, 7. Leg Ver2, 8. BLA Report 042121, 9. Comm Pkt 042121, 10. Grant Agreement - Kiva, 11. PRI Loan Agreement - California Rebuilding Fund, 12. Leg Ver3, 13. Form 126 - Calif Rebuilding Fund, 14. Form 126 - Kiva Microfunds, 15. Board Pkt 042721, 16. MYR Email on Retroactivity 042721, 17. Form 126 Final - California Rebuilding Fund, 18. Form 126 Final - Kiva Microfunds, 19. Leg Final
Legislation Details
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