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EDA backs review of Taylor Family Farms childcare loan applications and highlights provider appreciation event
Summary
At its April 23 meeting the Economic Development Authority reviewed earmarked funds for a Taylor Family Farms Foundation childcare forgivable-loan program, heard that five applications were received, and recorded a motion to support staff and the review committee; a provider appreciation event is scheduled for May 5.
The Economic Development Authority on April 23 reviewed funds set aside for a childcare forgivable-loan program and recorded a motion to back staff and an outside review committee that will evaluate five applications.
The treasurer’s report showed the EDA Fund totaled $398,214.19, with $46,609.27 in the bank and $351,604.92 in a 4M Investment Fund; the Loan Fund held $46,265.10 and SCDP $18,592.32. The minutes state $10,000 of the EDA Fund is allocated to the Taylor Family Farms Foundation grant for childcare forgivable loans and that the loan program includes a $10,000 EDA match.
Administrator Bromeland said five applications for the Taylor Family Farms Foundation grant have been received and that an outside review committee will meet April 27 to evaluate them. "The recommendations of the review committee will be brought to the City Council in May for final approval of amounts awarded," the minutes note. Applicants provided financials and indicated any assistance would be welcomed.
During the meeting EDA Member Anthony White moved, and Tony Dickmeyer seconded, a motion "to support staff and committee members in reviewing applications and to support their recommendations." The minutes record the motion and the second but do not record a vote tally or final outcome.
Separately, Administrator Bromeland said the RCCIP committee will host a childcare provider appreciation event on May 5 from 6 to 8 p.m. at City Hall. SMIF will provide a meal; organizers plan swag bags, door prizes and speakers who will discuss resources available to providers. EDA members were invited to attend.
Next steps recorded in the minutes: the review committee meets April 27; the committee’s recommendations will go to City Council in May for final approval. The minutes do not record any funding awards or a council decision at this meeting.
