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Board asks staff to draft loan-forgiveness criteria after Mountain Meadow Farms requests relief
Summary
A microenterprise loan recipient, Mountain Meadow Farms owner Bridal Ostrom, requested forgiveness of a $50,000 CDBG loan after losses from dog attacks. The board directed staff to return with forgiveness criteria and a plan to consider Ms. Ostrom's case at the next meeting.
The Mariposa County Board of Supervisors on March 18 took up a request from Bridal Ostrom of Mountain Meadow Farms to forgive a $50,000 microenterprise loan issued through the county—s Community Development Block Grant program.
Senior Planner Ben Goger explained the CDBG microenterprise loan program and noted the loan terms (10 years at 2%). Goger said program income from loan payments must be tracked and used for eligible CDBG activities and that staff presented four possible approaches: (1)…
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