Committee debates whether CIC should lend or focus on grants and façade programs
Council members and the Mayor expressed caution about using public funds for lending through a CIC, urging due diligence and suggesting lower-risk programs such as grants or façade improvements; counsel described underwriting and risk-mitigation options.
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Council President Brian Fischer and other members questioned the Citys exposure if the CIC engaged in lending activities, noting the possibility that private banks might decline loans and that "there [is] a potential risk to taxpayers in the event of loan defaults," a concern raised in committee discussion.
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