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Council asks for update on status and administration of city’s revolving loan fund
Summary
Council members requested a report on the administration and status of the revolving loan fund after staff and others discussed prior consultant work and new vendor options; council asked staff to research prior agreements and return with an update.
Council members asked staff for an update on the city’s revolving loan fund administration and the status of prior contracts after the Community Development Office referenced earlier consultant work.
Council members recalled that a consultant, Anne Russo Holland, had been contracted in the past to prepare administrative plans, update forms and train staff related to the fund. Council members said they were unclear whether that consultant’s scope included active administration of the loan fund and whether subsequent staff or contractors had continued administration. One council member asked staff to research what was done under prior contracts and to provide a status update for the next council meeting.
Staff acknowledged ongoing research, said they were seeking organizations with capacity to oversee allocations, and promised a report at the next meeting. No procurement or contract action was taken during the work session.
