HomeMy WebLinkAbout07-047;'h
WHEREAS, the Community Development Block Grant (CDBG) Program provides funding
opportunities for small cities and counties to administer loans for business expansion and
retention;
WHEREAS, the County of Butte is eligible to enter into aSub-grant agreement with approved
nonprofit corporations organized under United States Statute 501(c) (3);
WHEREAS, Tri-County Economic Development Corporation is an approved nonprofit
corporation and has shown the capacity to manage and administer Butte County's Business
Expansion and Retention Loan Fund;
WHEREAS, under CDBG regulations, aSub-grant agreement may allow for loan re-payments
to return to the County as de-federalized funds.
NOW, THEREFORE, BE IT RESOLVED by the County of Butte as follows:
SECTION 1.
The Board of Supervisors has reviewed and hereby approves asub-grant agreement with Tri-
County Economic Development Corporation.
SECTION 2.
Under this agreement, loan re-payments will return to the County as de-federalized funds.
Although these funds will no longer need to meet CDBG reporting requirements, funds will be
re-used for future economic development activities.
SECTION 3.
The Board of Supervisors has determined that Federal Citizen Participation requirements were
met during the development of this application.
CF(''TTf1N d
The Butte County Chief Administrative Officer is hereby authorized and directed to act on the
County's behalf in all matters pertaining to this agreement.
A RESOLUTION APPROVING ASUB-GRANT AGREEMENT BETWEEN
THE COUNTY OF BUTTE AND TRI-COUNTY ECONOMIC DEVELOPMENT
CORPORATION FOR THE ADMINISTRATION OF COMMUNITY DEVELOPMENT
BLOCK GRANT ECONOMIC DEVELOPMENT ACTIVITIES
PASSED AND ADOPTED by the Butte County Board of Supervisors this 13th day of March
2007 by the following vote:
AYES: Supervisors Connelly, Kirk, Josiassen, Yamaguchi and Chair Dolan
NOES: None
ABSENT: None
NOT VOTING: None
JANE DOLAN, Chair
ATTEST:
PAUL MCINTOSH, Chjef Administrative Officer
And Clerk of toa~ Supervisors
By: - ` ~~il cam'