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File #: 2020-249    Version: 1 Name:
Type: Discussion Status: Agenda Ready
File created: 4/13/2020 In control: City Council
On agenda: 4/21/2020 Final action:
Title: CONSIDER RESOLUTION NO. 20-073, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON AMENDING THE 2019-2020 BUDGET IN THE AMOUNT OF $500,000 FOR THE PURPOSE OF ESTABLISHING THE CARSON COVID-19 DISASTER SMALL BUSINESS LOAN/GRANT PROGRAM (CITY COUNCIL)
Attachments: 1. Exhibit One- City Loan Program Budget Resolution
Report to Mayor and City Council
Tuesday, April 21, 2020
Discussion


SUBJECT:
Title
CONSIDER RESOLUTION NO. 20-073, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARSON AMENDING THE 2019-2020 BUDGET IN THE AMOUNT OF $500,000 FOR THE PURPOSE OF ESTABLISHING THE CARSON COVID-19 DISASTER SMALL BUSINESS LOAN/GRANT PROGRAM (CITY COUNCIL)

Body
I. SUMMARY

On April 13, 2020, the Disaster Council approved a contract with the California Community Economic Development Association ("CCEDA"), a California non-profit organization, to quickly create and implement a focused business assistance program for Carson commercial and retail businesses and non-profit organizations, with a special emphasis on the COVID-19 response and accessing funding through state and federal programs such as those offered through the Small Business Administration.
At the same meeting, Mayor Robles request staff to bring an item to the City Council to consider the establishment of a $500,000 Small Business Loan/Grant program. Such an action, as the appropriation of new funds from the City's Fund Balance, requires the approval of a budget resolution by the City Council.
This action would also authorize the City Manager to take all actions necessary including, but not limited to, facilitating the transfer of funds to establish the Carson COVID-19 Disaster Small Business Loan/Grant Program (Program); within the umbrella of the Program, authorize the City Manager to seek additional Federal and State funding to develop and implement the Program to assist small businesses and non-profits in the City of Carson; to develop appropriate guidelines and underwriting standards designed to address the needs of impacted entities; and to take any related actions to establish or implement the Program, including entering into agreements or necessary amendments with CCEDA and other community-based non-profits, banks, foundations, community development financial institutions and philanthropic organizations tha...

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