Committee hears loan‑fund updates: two loans repaid, outreach underway and an application under review

Committee staff reported routine but notable activity in the community development revolving loan funds, including payoff notices and outreach to potential borrowers. A staff speaker said American Tents and Buffalo Equity repaid loans and those dollars have returned to the committee’s funds, increasing available capital. Staff also reported updated contact information for a legacy borrower and several community meetings and inquiries scheduled to pursue new lending.

Jessica Mays said she conducted outreach via the city’s social channels to alert the community that funding is available: "I did do some outreach marketing on a city socials to let the community know, like a nice reminder that we have funds in both accounts," she said. Staff also noted one new application remains under underwriting and is waiting for supporting documentation; staff expects to place that item on a future agenda once materials are complete.