06-10-97SpMtg JUNE 10~ 1997
A Special Meeting of the City Commission of the City of
Delray Beach, Florida, was called to order by Mayor Jay Alperin
in the First Floor Conference Room at City Hall at 6:00 p.m. on
Tuesday, June 10, 1997.
Roll call showed:
Present - Commissioner Kevin Egan
Commissioner Ken Ellingsworth
Commissioner David Randolph
Commissioner David Schmidt
Mayor Jay Alperin
Absent - None
Also present were - City Manager David T. Harden and
City Attorney Susan A. Ruby
Mayor Alperin called the meeting to order and announced
that it had been called for the purpose of considering the fol-
lowing item:
(1) PARTICIPATION AS A COMMUNITY PARTNER WITH THE BUSINESS
LOAN FUND OF THE PALM BEACHES, INC. Consider approval of the
actions necessary for the City to participate as a Community
Partner with the Business Loan Fund in an application to the
Community Development Financial Institutions Program.
Mr. Chris Brown, President of the Business Loan Fund of
the Palm Beaches, Inc., explained that the Fund is a non-profit
financial intermediary whose chartered purpose is to loan monies
to small businesses and community projects benefiting low and
moderate income individuals and neighborhoods throughout Palm
Beach County. The Fund was recently incorporated and has been
approved by the Internal Revenue Service for 501(c)3 status. The
Business Loan Fund is in the process of preparing an application
to the U.S. Department of the Treasury, Community Development
Financial Institutions (CDFI) Program for certification as a CDFI
and for a capital grant to pursue the Fund's objectives.
The request before the Commission is to consider
approving the City's participation as a Community Partner with
the Business Loan Fund in the grant application. Mr. Brown
stated there is no obligation on the City's part except to
provide referrals as appropriate to the Business Loan Fund for
consideration. The specific actions requested are to formally
adopt the agreement to participate as a community partner, have
the Mayor sign the application to the CDFI program, submit a
letter of support for the application, and recruit other affected
organizations in the area to submit letters of support. What the
CDFI program is looking for is support from local governments,
community redevelopment agencies, Chambers of Commerce, etc., as
community partners because they become the feeder for the appli-
cants to the Business Loan Fund.
On question from Mayor Alperin, Mr. Brown stated that
the grant application will be for the amount of $700,000.
Mr. Schmidt commented that in the model agreement
included with the backup, there is a statement which reads,
"Community Partner will provide to The Fund loan recipients the
following support services:" and then it is blank to be filled in
with what is going to be provided. The following statement says
that the Community Partner will provide the above services within
the County's Development Region(s). Since the City is going to
be the Community Partner, Mr. Schmidt asked what, if anything,
the City might be expected to do in terms of support services or
services within the County's Development Region?
Mr. Brown responded that a statement indicating the
City will refer prospective applicants to the Loan Fund for
consideration would be sufficient.
Mr. Ellingsworth moved to approve the actions necessary
for the City to participate as a Community Partner with the
Business Loan Fund of the Palm Beaches, Inc., seconded by Mr.
Egan. Upon roll call the Commission voted as follows: Mr.
Schmidt - Yes; Mr. Egan - Yes; Mr. Ellingsworth - Yes; Mr.
Randolph - Yes; Mayor Alperin - Yes. Said motion passed with a 5
to 0 vote.
There being no further business, Mayor Alperin declared
the special meeting adjourned at 6:10 p.m.
J City ~lerk
ATTEST: .~ ~.
Beach, Florida, and the information provided herein is the Min-
utes of the June 10, 1997, Special Meeting of the City Commis-
sion, which Minutes were formally approved and adopted by the
City Commission on Oh L~ / /997
/-City C~erk
NOTE TO READER: If the Minutes you have received are not com-
pleted as indicated above, this means they are not the official
Minutes of the City Commission. They will become the official
Minutes only after review and approval which may involve amend-
ments, additions or deletions to the Minutes as set forth above.
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