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Council authorizes annual EDFC contribution after director presents loan, technical assistance and new revolving fund activity
Summary
The council authorized the city manager to execute a performance agreement with the Economic Development and Financing Corporation (EDFC) for $12,455.25 for fiscal year 2025–26. EDFC director Robert Gerner described lending and technical assistance activity, a new privately funded revolving loan fund and CDFI recertification success.
The Ukiah City Council on Aug. 20 received the Economic Development and Financing Corporation’s annual report and authorized a performance agreement in the amount of $12,455.25 for fiscal year 2025–26.
Deputy City Manager Shannon Riley introduced the item and said the city’s contribution is based on an assessment formula tied to population; with Ukiah’s population just over 16,000 that yields the stated annual fee. Robert Gerner, EDFC director, reviewed the nonprofit lending…
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