HomeMy WebLinkAbout941660.tiff HEARING CERTIFICATION
DOCKET NO. 94-36
RE: CDBG APPLICATION TO PROVIDE SMALL BUSINESS ASSISTANCE FUNDS; AWARD
CDBG LOAN TO POULSEN ACE HARDWARE; DETERMINE COMMUNITY DEVELOPMENT
AND HOUSING NEEDS; AND RECEIVE INPUT ON THE PERFORMANCE OF WELD
COUNTY IN CARRYING OUT ITS COMMUNITY DEVELOPMENT RESPONSIBILITIES
A public hearing was conducted on April 25, 1994, at 9:00 a.m., with the
following present:
Commissioner W. H. Webster, Chairman
Commissioner Dale K. Hall, Pro-Tem
Commissioner George E. Baxter
Commissioner Constance L. Harbert
Commissioner Barbara J. Kirkmeyer
Also present:
Acting Clerk to the Board, Shelly Miller
Assistant County Attorney, Bruce Barker
Director of Finance and Administration, Donald Warden
The following business was transacted:
I hereby certify that pursuant to a notice dated April 13, 1994, and duly
published April 14, 1994, in the Windsor Beacon, a public hearing was
conducted to obtain citizen views and to respond to proposals and
questions related to: 1) The proposed Community Development Block Grant
(CDBG) application for small business assistance funds; 2) The award of a
$100,000 CDBG loan to Poulsen Ace Hardware of Eaton on 3/17/94; 3)
Community development and housing needs, including the needs of low and
moderate income persons, as well as other needs in the community that
might be addressed through the CDBG program; and 4) The performance of the
County of Weld in carrying out its community development responsibilities.
Donald Warden, Director of Finance and Administration, made this a matter
of record. He explained Weld County is sponsoring the grant and Economic
Development Action Partnership (EDAP) is administering it. Mr. Warden
stated the CDBG application is for $250,000 for the Weld/Larimer Revolving
Loan Fund (RLF). He explained the second issue concerns $100,000, which
was granted to Paulsen on March 17, 1994, and the third and fourth issues
concern community development housing needs and the performance of the
County in carrying out its responsibilities. Bill Argo and Jodi Hartman
of EDAP were present, and Ms. Hartman explained the small-business
benefits and an activity report which she submitted to the Board. She
explained their primary objective is to create jobs for low to moderate
income people. Responding to questions from the Board, Ms. Hartman
indicated they work with defaulting companies significantly to arrange
flexibility in payment terms and in some cases liquidate assets. Mr. Argo
indicated the RLF Loan Committee consists of three members each from Weld
County and Larimer County, and they track cash flow very closely. Ms.
Hartman stated she had attended a National conference concerning the RLF
program and learned that up to 75 percent default on loans. She explained
HUD is changing its criteria to eliminate some risks; however, the State
of Colorado is doing very well considering the program is very high-risk.
Mr. Argo reiterated that the loan committee is very tough on its
applicants and requires proof of need and ability to repay. No public
testimony was offered concerning this matter. Mr. Warden indicated the
Board should approve and sign the CDBG application for $250,000, confirm
the Paulsen Contract, and close out the documents for the RLF.
Commissioner Harbert so moved, and Commissioner Kirkmeyer seconded the
motion which carried unanimously.
941660
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RE: HEARING CERTIFICATION - CDBO APPLICATION & POULSEN ACE HARDWARE
PAGE 2
This Certification Lea%
was approved on the 27th day of April, 1994.
APPROVED:
ATTEST: BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
Weld County Clerk to the Board .
! rL(A Dtl., W. H. Webster, C airman
Deputy Clet;k to the Board
Da e . Ha , Pro- em
TAPE #94-21
7 76
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DOCKET 1194-36
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FI0018 Constance L. HarbertA
/Barbara J. Kirkmeyer
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