Economic Development Revolving Loan Fund Committee

The Economic Development Revolving Loan Fund Committee approves loans applied for through the Economic Development Revolving Loan program, a city-administered program leveraging federal dollars to provide "gap financing" to businesses with a primary lender. The Economic Development Revolving Loan Fund is funded with federal and state funds or Community Development Block Grants; the Revolving Loan Fund Committee manages these state funds.

Governing Law: The Economic Development Revolving Loan Fund Committee was set up with council resolution R-11-07, in accordance with state and federal Community Development Block Grant (CDBG) rules.

Membership and Terms: Four appointed members hold four-year terms. Indefinite terms are held by City Auditor, Director of Public Service & Safety, and Finance Committee Chair.

Appointment: Four members are appointed by the Mayor; three members are assigned by title.

Members