HomeMy WebLinkAbout20150706.tiff RESOLUTION
RE: APPROVE AMENDMENT #1 TO LOAN FUND GRANT AGREEMENT AND
AUTHORIZE CHAIR TO SIGN - COLORADO ENTERPRISE FUND, INC.
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 Amendment #1 to the Loan Fund Grant
Agreement between the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, and Colorado Enterprise Fund, Inc., commencing March 16,
2015, with further terms and conditions being as stated in said amendment, and
WHEREAS, after review, the Board deems it advisable to approve said amendment, a
copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that Amendment#1 to the Loan Fund Grant Agreement between the County of
Weld, State of Colorado, by and through the Board of County Commissioners of Weld County,
and Colorado Enterprise Fund, Inc., be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to
sign said amendment.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 16th day of March, A.D., 2015.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST:Wedd ;k EXCUSED
.d�+N/ Barbara Kirkmeyer, Chair
Weld County Clerk to the Board 1 -1
19
Mike Freeman, P`em
D ty Clerk to e Boa j
n P. Conway
APP ED S TO FO 0 _ , lie AC zzadUNIC
Co torney V
�/ Steve Moreno
Date of signature: �7
CLci tt ; LEE
45 2015-0706
BC0048
AMENDMENT ONE TO THE LOAN FUND GRANT AGREEMENT
BETWEEN WELD COUNTY AND COLORADO ENTERPRISE FUND, INC.
This Amendment is made and entered into this 16th day of March, 2015, by and between the
Board of Weld County Commissioners and Colorado Enterprise Fund, Inc.
WHEREAS,on January 28, 2013,Weld County and Colorado Enterprise Fund, Inc.entered into an
Original Agreement to establish a loan fund for small businesses in Weld County that Colorado
Enterprise Fund, Inc.would administer, and
WHEREAS,the program has been successful in making loans to over 20 small businesses that
have created over 130 jobs in Weld County, and
WHEREAS,Weld County and Colorado Enterprise Fund, Inc. desire to establish an new loan fund
similar to the original loan fund where Weld County will contribute$150,000, and Colorado Enterprise
Fund, Inc. will match the$150,000 for a loan fund totaling$300,000, and
WHEREAS,the new loan fund will have the same criteria and operate in the same manner as the
original loan fund,except before a borrower receives any funding the borrower must become a client of
the Northeast East Central Colorado Small Business Development Center(SBDC)exclusively or the
BizHub/SBDC.
Now,therefore the agreement dated January 28, 2013, between Weld County and Colorado
Enterprise Fund, Inc. is hereby amended as follows:
1. Colorado Enterprise Fund, Inc. will establish a new loan fund similar to the original loan fund
where Weld County will contribute$150,000, and Colorado Enterprise Fund, Inc.will match the
$150,000 for a loan fund totaling$300,000.
2. Weld County shall pay into the fund $150,000 within ten days of the execution of this
amendment.
3. Colorado Enterprise Fund, Inc. shall pay into the loan fund $75,000 within ten days of the
execution of this amendment.
4. Colorado Enterprise Fund, Inc. shall pay into the loan fund their additional match of$75,000
within 15 days once the loan fund has issued $175,000 in total loans to borrowers, for a total
contribution by Colorado Enterprise Fund, Inc.of$150,000.
5. The lending criteria and program for the new loan fund will remain the same as the original loan
fund, except before a borrower receives any funding the borrower must become a client of the
Northeast East Central Colorado Small Business Development Center(SBDC) exclusively or the
BizHub/SBDC.
6. All other terms and conditions of the Original Agreement remain unchanged.
7. This amendment, together with the terms of the Original Agreement,constitutes the entire
agreement between the parties.
IN WITNESS WHEREOF, the parties hereto have duly executed the Agreement as of the day, month, and
year first above written.
020/5-070
AMENDMENT ONE TO THE LOAN FUND GRANT AGREEMENT
BETWEEN WELD COUNTY AND COLORADO ENTERPRISE FUND, INC.
COLORADO ENTERPRISE FUND: BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
_ �Y a v`-i"e G /�,w2.,
( ���`� Mike Freeman, Chair Pro-Tem kAAR 1 Q 215
Cecil H. Prinster
President and CEO APPR ED AS TO FORM:
,41 Co Attorney
ATTEST: dm:Z/4"V /�,,
Weld County Clerk to the Board �� E Lida
''�` tilikcp timBY: V1'
Deputy Clerk to the Board
AP ROVED A TO F NDI G:
I
020/5-0 70&
Esther Gesick
From: Richard Pickett[richard.pickett@eastcoloradosbdc.com]
Sent: Thursday, March 12, 2015 3:02 PM
To: 'Nick Massie'; Esther Gesick
Cc: Lisa.Drew@EastColoradoSBDC.com
Subject: RE: Colorado Enterprise Fund Quarterly Reporting -QE 12/31/2014
Esther/Nick
Would you let me know when the fund is ready to go so I can alert the team. Thanks.
Regards,
Richard Pickett
Executive Director
UNC BizHub Collaborative and
The East Colorado SBDC
Hosted by the Monfort College of Business
At the University of Northern Colorado
807 17th Street Suite D
Greeley, Colorado 80632
Richard.pickett@eastcoloradosbdc.com
970.351.4274
i
UNC 13i z l l tit)Coll alp carat lye
UtiIQUE AND IYNOYAT IYE
(fro
r§» ,,bc
From: Nick Massie [mailto:nick@coloradoenterprisefund.org]
Sent: Thursday, March 12, 2015 12:53 PM
To: Esther Gesick
Cc: richard.pickett
Subject: RE: Colorado Enterprise Fund Quarterly Reporting- QE 12/31/2014
Esther,
I have just been handed signed copies. Can I get you a color scan right away and get the original to you asap?
Nick
From: Esther Gesick [mailto:egesick(&,,co.weld.co.us]
Sent: Thursday, March 12, 2015 12:41 PM
To: Nick Massie
Cc: richard.pickett
Subject: RE: Colorado Enterprise Fund Quarterly Reporting - QE 12/31/2014
Hello Nick,
I'm just following up on Don's message below. Can you tell me the status of the two signed agreements? I'm
preparing the Commissioners Agenda for Monday and we will be scanning the documents tomorrow, so I was
wondering if they will be available before then.
2
Regards,
Esther E. Gesick
Clerk to the Board
1150 O StreetIP.O. Box 758IGreeley, CO 80632
tel: (970) 336-7215 X4226
tI r;.._-
- J' r /
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended
only for the person or entity to which it is addressed and may contain information that is privileged, confidential
or otherwise protected from disclosure. If you have received this communication in error,please immediately
notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the
taking of any action concerning the contents of this communication or any attachments by anyone other than the
named recipient is strictly prohibited.
From: Don Warden
Sent: Monday, March 09, 2015 2:10 PM
To: Nick Massie
Cc: richard.pickett; Esther Gesick
Subject: RE: Colorado Enterprise Fund Quarterly Reporting- QE 12/31/2014
Attached is Amendment One to the CEF Loan agreement for the $150,000 we discussed last week. Please have
Cecilia H. Prinster sign two copies and return them to Esther Gesick, Clerk to the Board at PO Box 758,
Greeley, CO 80632. The Commissioners will approve the amendment March 16, 2015. Once signed we will
forward you a signed copy and the$150,000.00 check. If you have question please do not hesitate to contact
me.
Donald D. Warden
Director of Finance and Administration
•
Finance and Administration
PO Box 758
3
1150 O Street
Greeley, CO 80632
tel: 970-356-4000 Extension 4218
email: dwarden@co.weldco.us
I I
Confidentiality Notice: This electronic transmission and any attached documents or other writings are intended
only for the person or entity to which it is addressed and may contain information that is privileged, confidential
or otherwise protected from disclosure. If you have received this communication in error,please immediately
notify sender by return e-mail and destroy the communication. Any disclosure, copying, distribution or the
taking of any action concerning the contents of this communication or any attachments by anyone other than the
named recipient is strictly prohibited.
From: Nick Massie [mailto:nick@coloradoenterprisefund.org]
Sent: Wednesday, March 04,2015 10:52 AM
To: Nick Massie
Subject: Colorado Enterprise Fund Quarterly Reporting- QE 12/31/2014
Friends of CEF:
Attached here you will find summary reporting on our activity in Weld County for the quarter ended December
31, 2014 and our financials from the first quarter of the new fiscal year. Please accept my apology for the delay
in sending this information to you.
If you have questions,please let me know.
Sincerely,
4
Nick Massie
Director of Finance &Administration
Colorado Enterprise Fund
1888 Sherman Street, Suite 530
Denver, CO 80203
p: 720.473.4060
f: 303.339.4884
nick@coloradoenterprisefund.org
colorado
enterprise fund
coloradoente risefund .org
g
connect with CEF:
Facebook I LinkedIn I Twitter
Our Mission: To accelerate community prosperity by financing and supporting entrepreneurs and small
businesses.
5
Hello