Title
Resolution Listing Loans and Grants for City Council Approval
Body
Department: Neighborhood Development
Council District: 1, 2, 3 and 5
Public Hearing: No
Advertising Date/By:
Contact 1 and Phone: Stan Wilson, 336-373-2509
Contact 2 and Phone: Cynthia Blue, 336-433-7376
PURPOSE:
On March 1, 2005, the City Council adopted a resolution that required Council approval of loans and grants over $10,000. City Council is requested to consider approval of these loans and grants. These loans and grants address MAP Goal #1: Maintain Infrastructure and provide Sustainable Growth Opportunities and MAP Goal #3: Promote Public Safety and Reduce Crime.
BACKGROUND:
City Council has requested that the City Manager include, on the regular Council Consent Agenda, all loans and grants in excess of $10,000 which are to be disbursed through the City budget as direct loans or grants, or pass-through loans or grants on the recommendation of agencies, non-profits, or other organizations acting on behalf of the City, for final approval before such funds are disbursed.
A list of loans and grants and loan modifications recommended for funding is attached.
BUDGET IMPACT:
No new funding appropriations are being requested as a result of these loans/grants approval.
RECOMMENDATION / ACTION REQUESTED:
The City Council is requested to consider the approval of these loans/grants and authorize the City Manager to execute agreements.