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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 program’s recent activity: since his tenure began six years ago EDFC has closed about $7.5 million in loans and assisted 55 local businesses, with 87 percent of lending going into investment‑area census tracts or distressed communities.
Gerner told the council the organization has created a privately funded community revolving loan fund, seeded from recent grant proceeds, and made its first loan in the current fiscal year from that fund. He also said EDFC obtained recent U.S. Department of Agriculture rural business development grant funds that have supported technical assistance—about 300 hours and 40 businesses served in nine months—and staff noted EDFC successfully secured Community Development Financial Institution (CDFI) recertification after an 18‑month process.
Council members asked about client counts and geographic distribution. Gerner reported the portfolio includes 49 total business clients, 33 of which are in Mendocino County and 10 businesses located directly in Ukiah. He said EDFC’s lending closed seven loans for $844,000 in fiscal year 2023–24 and that two more loans closed at the start of the current fiscal year for roughly $500,000.
Council voted to receive the report and authorized the city manager to negotiate and execute the annual performance agreement for the stated amount. Council members and the board liaison praised EDFC’s local technical assistance, small‑business workshops and outreach efforts.
