Narrative of Resolution:
title
Amend Resolution No. 33-24
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If Resolution requires expenditure of County Funds, provide the following information:
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Specify Compliance with Procurement Procedures:
RESOLUTION INTRODUCED BY EXECUTIVE COMMITTEE TO AMEND RESOLUTION 33-24 REGARDING THE TRANSFER OF REVOLVING LOAN BALANCES AND EXISTING LOANS TO SULLIVAN COUNTY FUNDING CORPORATION FOR ADMINISTRATION
WHEREAS, the Commissioner of Planning & Community Development is charged with the loaning of, and the collection of, grant funds through the Rural Business and Economic Grant (RBEG), a USDA funded grant; and
WHEREAS, the Commissioner of Planning & Community Development is charged with the loaning of, and the collection of, grant funds through the Main Street Micro Enterprise Grant, a HUD funded grant; and
WHEREAS, the Commissioner of Planning & Community Development is charged with the loaning of, and the collection of, grant funds through the Sullivan County Economic Development Revolving Loan Fund (SCEDRLF) a HUD funded grant; and
WHEREAS, many of the current County Revolving Loan Fund loan recipients are also recipients of reciprocal Sullivan County Industrial Development Agency (IDA) and/or Sullivan County Funding Corporation loans (SCFC); and
WHEREAS, IDA and SCFC have established infrastructure, standards and protocol for the distribution of grant funds to the community; and
WHEREAS, the Commissioner of Planning & Community Development, after consultation with the County Manager and legal counsel, believes that the IDA and/or SCFC are in the best position to most efficiently loan and distribute the revolving loan funds to those in need within the Sullivan County community; and
WHEREAS, the County Manager has participated in these discussions and likewise concurs that the IDA and/or SCFC are currently better situated to mos...
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