HomeMy WebLinkAbout891289.tiff RESOLUTION
RE: ACCEPT COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDS FOR
WELD/LARIMER REVOLVING LOAN FUND AND AUTHORIZE CHAIRMAN TO
SIGN LETTER
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Letter
concerning the acceptance of CDBG funds for the creation of the
Weld/Larimer Revolving Loan Fund, and
WHEREAS, the terms and conditions are as stated in said
Letter, a copy being attached hereto and incorporated herein by
reference, and
WHEREAS, after review, the Board deems it advisable to
approve said Letter.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that the CDBG funds for
the creation of the Weld/Larimer Revolving Loan Fund be, and
hereby are, accepted.
BE IT FURTHER RESOLVED by the Board that the Chairman be, and
hereby is, authorized to sign said Letter of Acceptance.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 6th day of
December, A.D. , 1989.
u v t? thef` BOARD OF COUNTY COMMISSIONERS
t1
ATTEST: U WELD COUNTY, COLORADO
Weld County Clerk and Recorder AYE
and Clerk to the Board C.W. er"by, airman
: J ft,vn l.J _ tee
Br , AYE
e e R. Brantner, Pro-Tem
eputy (Th&lerk
�YE
APPROVED AS TO FORM: Constance L. Harbert
EXCUSED DATE OF SIGNING - AYE
George 7edy
County Attorney r � , NAY
Gold6 ` k91—
891289
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OFFICE OF ECONOMIC DEVELOPMENT
State ofColorado
1625 Broadwac,Suite 1710
Denver,Colorado 80202
(303)892-3840
FAX:(303)892-3848
ROY R.ROMER
November 30, 1989 Governor
The Honorable William Kirby
Chairman
Weld County Commissioners
918 10th Street
Greeley, Colorado 80631
Dear Commissioner Kirby:
It is my pleasure to inform you that the Financial Review Committee
( "FRC") has conditionally approved $150, 000 in Community
Development Block Grant ( "CDBG") funds for the creation of the
Weld/Larimer Revolving Loan Fund ( "RLF") . As part of the state
work plan adopted by the FRC, the Weld/Larimer RLF is required to
serve Weld and Larimer counties, exclusive of entitlement areas.
Business assistance in entitlement areas may be considered on an
exception basis only. Weld/Larimer RLF shall provide $138 , 000 from
the CDBG grant for assistance to businesses and $12 , 000 for
administrative costs. In the event these funds are expended within
the contract year, the RLF may apply for supplemental funding at
that time. Future grants for administrative costs will not be
approved for more than seven percent (7%) of the total grant
request . From its CDBG allocation, the Office of Economic
Development intends to capitalize the•Weld/Larimer RLF, over time,
to a minimum of $1 , 500 , 000 .
To initiate contracting procedures for this project , please contact
Sharon Bowers, the project monitor, at 892-3840 . No funds are
obligated by the state until a grant contract has been properly
executed. No expenses incurred before the contract is fully
executed by all parties will be reimbursed by the state. As you
may also know, federal regulations prohdbit local grantees from
obligating CDBG funds or incurring costs for project activities
until a formal release of funds process has been properly followed
by the grantee and approved by the state.
•
� � � �; .,.5. 891285
The Honorable William Kirby
Chairman
Weld County Commissioners
November 30 , 1989
Page Two
We wish you success in the operation of the program and hope these
funds will make a substantial contribution to your local economic
development efforts.
Sincerer" 1
7/1
J. Fred rick Niehaus
Special Assistant to the Governor
for Economic Development
cc: Jim Kadlecek, Greeley/Weld EDAP
Cathy Schulte, Greeley/Weld EDAP
Don Warden, Weld County
State Senator Wayne Allard
State Senator Jim Brandon
State Senator Tom Norton
State Senator Bob Schaffer
State Senator Dave Wattenberg
State Representative Richard Bond
State Representative Faye Fleming
State Representative John J. Irwin
State Representative William H. Jerke
State Representative David T. Owen
State Representative Peggy Reeves
State Representative John Ulvang
Bonnie Kugler, DOLA
Bill Timmermeyer, DOLA
ACCEPTED:
WELD COUNTY COMMISSIONERS
By: ��t j Date: 12/6/89
Its: Chairman, Board of Commissioners
891289
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