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HomeMy WebLinkAboutRES 04-273 RESOLUTION NO. 04-273 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: THAT the City Council hereby certifies that the Small Business Revolving Loan Fund (RLF) plan is consistent with and supportive of the area's current economic adjustment strategy, and the RLF is being operated in accordance with the policies and procedures contained in the RLF Plan and the loan portfolio meets the standards contained therein. The Plan is substantially in the form attached hereto as Exhibit "A" and made a part hereof for all purposes. PASSED BY THE CITY COUNCIL of the City of Beaumont this the 23rd day of November, 2004. � � znaras: R - ayor Evelyn M. Lord - 3-1 P � 6 p9 ,--* „ .9'a.. I. PROGRAM ELEMENT TO THE PLAN A. Goals and Objectives 1. COMMITMENT TO ECONOMIC DEVELOPMENT: The Economic Development Policy Plan consists of goals, objectives, policies, and proposals for guiding Beaumont's future economic growth and development. Outside assistance is provided through a contact with the Beaumont Chamber of Commerce for various economic development activities such as marketing analysis, business retention efforts and working with business prospects. 2. GOAL: INCREASE THE NUMBER OF PERMANENT JOBS AVAILABLE TO CITIZENS OF BEAUMONT AND SOUTHEAST TEXAS Emphasis should be placed on value added jobs which are most likely to lead to further job creation. Jobs in "export" industries bring money into the region through production of goods or services that are exported outside of Beaumont. These jobs, which are generally highly paid, create spendable household income, thus generating new jobs in sales and services. Beaumont also needs jobs which can be filled by workers who were previously employed in shipyards, refineries, and chemical plants. These skilled workers are among Beaumont's most valuable economic resources and will leave the area if new job opportunities are not developed. Because of an especially high unemployment rate among Beaumont's sizable minority population, entry level jobs with on-the-job training are needed to bring unskilled workers from low-income backgrounds into the work force. WHERE WILL THESE JOBS COME FROM? New jobs come from three sources. 1) expansion of existing businesses 2) creation of new, entrepreneurial enterprises 3) attraction of plants or businesses from outside the community Research indicates that expansion of existing businesses and creation of entrepreneurial enterprises account for 80 to 90% of all new jobs. 1 EXHIBIT "A" .T OBJECTIVE NO 1: MAINTAIN AN EFFECTIVE ROLE FOR THE CITY OF BEAUMONT - ECONOMIC DEVELOPMENT PROCESS Policy 1.1 Role of the City The City will continue to serve in a leadership role in the following areas of economic development: A. Strategic Planning - analyzing Beaumont's competitive strengths and weaknesses in the world economy and then taking aggressive action to capitalize on the strengths and overcome the weaknesses. B. Legislative Advocacy - working closely with Jefferson County, The Port of Beaumont, Drainage District #6, the Jefferson County _Navigation District, BISD, other municipalities in the region, and other State and Federal elected officials to secure major funding assistance and to enact or change laws to increase the strategic competitiveness of the local/regional economy. C. Leveraging and Public/Private Partnerships - using the limited resources available to the City government, such as grants, development incentives, infrastructure, land, and staff to attract private sector investments which will create or retain jobs and/or increase the tax base. D. Develop and Communicate a Vision of the Future the City's elected officials and staff must motivate the community to set its sights on the goal of becoming a first- class medium-sized city with a quality of life capable of attracting new private investment and population. The City will serve in a leadership and cooperative role in the following areas, participating actively and lending whatever support is needed to other members of the economic development network: 2 A. Promotion; assisting the Chamber of Commerce, the Convention and Visitors Bureau, BUILD, Inc.Beaumont Main Street, Entergy, and other promotional groups in marketing' Beaumont as a business location, tourist, destination, etc. B. Business Attraction: working cooperatively with the Chamber/Economic Development Council in attracting new industry. Policy 1.2 The City's Commitment The City will commit the assets it has available--staff, incentives, land, taxing authority, infrastructure, tax- exempt bonding authority, and access to State and Federal grants--to the local and regional economic development efforts. The City will also strive for excellence in conducting its basic responsibilities of providing public services and infrastructure, recognizing that an efficient, competent and responsive city government is one of the prerequisites for economic growth of a community. Allocation of resources for construction of new or the repair or extension of existing city infrastructure and new or revised city services will be implemented on the basis of need; however, the impact of such actions on the economic development of the City as a whole will be considered of overriding importance when deciding where to allocate the City's resources among areas which are of equal need. Policy 1.3 Public Return on Investment The City will examine the potential return on the public's investment when determining where and how its limited resources will be committed. Return on public investment will be measured in terms of jobs created, jobs retained, and broadening of the tax base. OBJECTIVE NO. 2 ENCOURAGE A CLIMATE WHICH FACILITATES BUSINESS GROWTH AND SUSTAIN ABILITY ' r Policy 2.1 The City .of Beaumont recognizes that the degree of cooperation and support of local government plays a major role in business location and expansion decisions. The City resolves to improve both its efficiency and effectiveness in providing assistance and services to business. Policy 2.2 The City of Beaumont will be committed to improving the quality of life for current and future residents. lj In recognition of the connection between economic development, the qualify of life or livability of a city, and the development of a favorable sense of place. among residents and non-residents alike, the City supports the inclusion of "quality of life" and "environmental quality" considerations in making planning and development decisions. Visual community appearance considerations in the city's planning and development efforts are to be considered important economic development actions which will improve Beaumont's ability to attract new businesses and employment opportunities. In realization of the fact that investing in the overall improvement in the quality of life or livability of the City is not a goal which can be achieved overnight, the City will concentrate its resources on the cleanup and rehabilitation of selected neighborhoods and on the development and implementation of urban design plans for selected open space; street corridor, and city entrance or gateway areas. OBJECTIVE NO 3: ATTRACT NEW BUSINESSES AND INDUSTRIES TO THE BEAUMONT AREA Policy 3.1 The City will work with the Chamber of Commerce and other economic development groups in a team effort to bring new businesses and industries to the Beaumont area. Policy 3.2 Efforts to attract new business and industry will be targeted on industries whose locational needs are consistent with the Beaumont area's locational attributes. 4 Policy 3.3 Continue to promote the Beaumont area's resources and quality of life factors through the efforts of the Beaumont Convention and Visitors Bureau. OBJECTIVE NO 4: RETAIN AND EXPAND EXISTING BUSINESSES AND INDUSTRIES Policy 4.1 The City of Beaumont Recognizes that existing businesses and industries are the community's most important economic resources and will support the efforts of existing businesses to expand and improve operations. Policy 4.2 An "outreach" program to foster open lines of communication between the city government and existing businesses and industries will continue. OBJECTIVE NO 5: STIMULATE THE CREATION OF NEW BUSINESSES Policy 5.1 Continue the City's Small Business Revolving Loan Fund which provides financing assistance for new businesses having difficulty in obtaining conventional financing. Policy 5.2 Continue work with the Small Business Development Center at Lamar University, which assists start up businesses and processes applications for the City's Small Business Revolving Loan Fund. OBJECTIVE NO. 6 IMPROVE THE COMPETITIVE ADVANTAGES OF THE BEAUMONT AREA ECONOMY Policy 6.1 The City of Beaumont will assume a role of partnership with local business and industry in competing with producers in other regions, states and countries. This means city actions involving taxes, infrastructure, regulations and development incentives will focus on making it easier, more efficient and more advantageous for doing business in Beaumont. Policy 6.2 Expand the scope of Beaumont's market area by capitalizing on its role as a regional center of trade, professional services, entertainment, distribution, and medical services. 5 B. Identification of the Area's Financing Problems A review of Beaumont's capital market and discussions with local small business persons indicate the local capital market has the following characteristics. 1. Beaumont banks typically follow conservative policies and practices regarding allocation of deposits for lending purposes. While this is not unique to Beaumont or the region, the adverse effect of the local and statewide economy has even further reduced the availability of the banks capital in Beaumont. Beaumont banks are looking for additional outside capital projects as a cushion for their loans. 2. There is reluctance to provide financing to younger or higher risk companies or to companies located in blighted or depressed areas of the community. 3. There is a shortage of long term reasonably priced commercial financing available to small businesses located in Beaumont. 4. Local banks appear to be reluctant to make loans smaller than $75,000.00 5. There is a lack of capital for minority businesses. The Revolving Loan Fund (RLF) will serve a critical function in the City's economic development program by providing assistance in financing small business that will provide jobs primarily for persons of low and moderate income, the unemployed, and the underemployed, and projects which will diversify and strengthen Beaumont's economic base. Specific Objectives of the Revolving Loan Fund: The Revolving Loan Fund will promote economic development by: 1. Creating New Employment Opportunities: The Revolving Loan Fund will be utilized to assist in expansion or creation of small business enterprises, owned or operated by minorities, women, or the economically disadvantaged. 2. Increasing Private Financing Availability: Revolving loan fund monies will be used to leverage private financing for small business, availability 6 of financing for small. business enterprises owned or operated by minorities, women or the economically disadvantaged and to provide incentives to the financial institutions to make loans to small businesses. C. Targeting Criteria The Revolving Loan Fund will target small businesses which can best assist the City in achieving economic development objectives. The order or priority will be: I 1. Small businesses which will create the greatest number of jobs available to the unemployed, underemployed, or low or moderate income persons at the least cost to the Revolving Loan Fund; 2. Small businesses which are owned and operated by minorities, women, or the economically disadvantaged; 3. Small businesses that are located within Beaurnont's.Community Development and Housing Neighborhood Strategy Areas. D. Standards for the Revolving Loan Fund Portfolios To ensure the effectiveness of the Revolving Loan Fund as an economic development tool, the following standards will serve as guidelines for Revolving Loan Fund participation: 1. It is the objective of the Revolving Loan Fund to leverage each dollar three to four times through participation with private sector lending institutions, the SBA and other government loan programs and private investors. For each$10,000 of total investment, one job will be generated. The Revolving Loan Fund will leverage two private sector dollars for every one RFL dollar at a minimum. 2. Revolving Loan Fund monies will be available to finance the expansion and start-up needs of small businesses. Financing will be available for fixed assets (plant and equipment) and for working capital. The Revolving Loan fund will give priority to the businesses that create the maximum number of new jobs. 7 All Revolving Loan Fund applicants will be screened for potential use of vacant facilities located in blighted areas of the community. 2. Other economic development objectives and standards include the following: The Revolving Loan Fund borrower will be required to have a 10% equity in the project. Minorities and females will be encouraged to participate in the Revolving Loan fund. To prevent displacement of existing capital, all applicants must have written evidence of the need for the RLF funds. E. Financing Policies: The Revolving Loan Fund will include the following goals: 1. The Revolving Loan Fund loans are expected to range between $10,000 and $100,000. 2. No more than 20% of the total SBRLF contributed capital shall be loaned to any one borrower during any one time period. 3. Terms and Conditions of the Loans The expected amortization period for Revolving Loan Fund loans will be as follows: Working capital loans: Negotiated within normal commercial financing range Machinery and Equipment: Based upon the useful life of equipment financed Land and Building: 15 - 25 years 4. Interest Rates: Interest rates for all Revolving Loan Fund loans will be variable depending on the needs and financial condition of the applicant. Interest rate floors and ceiling will be established. The minimum interest rate will be four percent. 8 5. Special Financing Techniques: Revolving Loan Fund staff and administration will employ flexible financing techniques designed to meet the needs of the borrowers and to maximize the effectiveness of the Revolving Loan Fund program. The special financing techniques that may be utilized include: Lower than market rates. Extended amortization period for to"ins. Moratoriums on loan payments for a specified period of time. 6. Collateral and Equity requirements: Fixed asset financing will be secured by the fixed assets financed with other assets included if required. Collateral for working capital loans will include inventory, accounts receivable, fixed assets, cash and personal guarantees. The Revolving Loan Fund will mandate the contribution of equity by the. borrower, requiring not less than 10%. 7. Restructuring Loans: The Revolving Loan Fund will not be involved in restructuring loans or in refinancing projects. 8. Use of repaid recaptured Revolving Loan Fund interest and principal funds: Repayments of interest and principal will be used for additional loans. Revolving Loan Fund administrative staff will be paid by the City of Beaumont or Community Development Block Grant Funds. Origination fees and other fees earned by the Revolving Loan Fund will be used in the administration of the loan program. These administrative costs will be exclusive to the loan program. 9. Participation with other loan programs: To accomplish the stated goals of the Revolving Loan Fund, participation on loans with the following financial institutions is anticipated: • Banks throughout the City. • Small Business Administration. • Farmer's Home Administration. • SBA Certified Development Corporation (504's). • SBA Small Business Investment Corporation (MESBIC). 9 • Savings and Loan Associations. • Local equity capital funds. -- F. Related Activities: ` 1. Loan Packaging and Referral Service: The Revolving Loan Fund loans will be packaged by the staff in cooperation with the loan officer and staff of the participating financial organization. Those applicants who do not qualify for Revolving Loan Fund loans but are viable applicants for other financing assistance will be referred to the local office of the Small Business Administration, the Southeast Texas Economic Development Foundation (A SBA 504), and other commercial banks or savings and loans in the community. 2. Linking Jobs to the Long-Term Unemployed: Should the borrowers need assistance in recruiting the long-term unemployed and low-income persons, the company will be referred to agencies capable of providing assistance. Those agencies include: • Texas Workforce Center • Local Employment Agencies • Advertisement in Local Newspapers 10 II. Administrative Element of the Plan F. Loan Administration Board The Mayor and City Council establishes citizen advisory boards, committees and commissions and appoints citizens within the community to serve on these various committees by approval of City Council. A Loan Administration Board will be formed with the membership as follows: J. Members will be drawn from local financial institutions. 2. Other members will be appointed from the Small Business Development Center at Lamar University. 3. One member will be appointed representing the City of Beaumont. 4. The remaining members will be appointed from small and minority businesses or community organizations. Provisions will be made to assure strong representation among women and minorities. At least one member with financing experience must be present for each loan decision. Board members will be appointed to two year terms, which will be staggered to assure continuity on the board. The board will include members from both the public and private sectors. B. Staff The City's Finance Department, Cash Management Division, will provide support staff to the Revolving Loan Fund. The Cash Management staff has experience in analysis of business operations and financial statements and substantial billing and collection experience. The RLF staff will work closely with the particular commercial lending officers of the private financial institution(s) involved in the leveraging of each loan. The loan packages will be prepared to provide adequate loan security and allow maximum operating flexibility to the borrowers. C. Conflict of Interest 2. RLF funds shall not be available to a business entity if the owner of such entity or any owner of an interest in such entity is related by blood, marriage, law or business arrangement to an employee of the City of Beaumont or any member of the City Council, or a member of the SBRLF Loan Advisory Board unless the person(s) affected first discloses in writing to the Loan Advisory Board the potential benefit and the Loan 11 Advisory Board determines that the benefit involved is not so substantial as to affect the integrity of the Board's decision process. 3. An officer, employee or' board member of the SBRLF shall not solicit or accept, directly or indirectly, any gift, gratuity, favor, entertainment or any other thing of monetary value for himself or for another person, from any person or organization seeking to obtain a loan. 4. Former Loan Advisory Board members and/or officers -are ineligible to apply for or receive loan funds for a period of one year from the date of termination of his/her service. D. Loan Selection and Approval Process 2. Marketing The Finance Department will have a coordinative managerial role in the areas of capital formation and supporting the existing network of economic development groups active in the area. The staff will also continue its ongoing contacts with the SBA and financial institutions. Presentations will be made to the Chamber of Commerce, Minority Business Development Organizations and other potential sources of applicants. J. Screening Potential applicants for the RLF will be screened by the staff at the Small Business Development Center (SBDC) at Lamar University and participating financial institutions. Preliminary screening by the (SBDC) will include, but will not be limited to the following: • Eligibility criteria • Ownership and organizational structure • Potential for job creation • Funding requirements If the preliminary screening process indicates that the potential applicant is appropriate for the RLF, the applicant will be invited to make full application. The RLF staff and the Small Business Development Center will provide technical assistance to help applicants with the preparation of necessary documents. Applicants that are ineligible will be referred to 12 other sources which maybe appropriate including the SBA, the local 504 Corporation or other programs which may fit the needs of the applicant. 3. Applications At this phase of the process, the following information may be requested from the applicant and his/her financial institution: • Application Form • Summary description of business end the project being financed • Financial Statement(3 years) • Projection(3 years) Assumption (2 years existing) New Company (3 years) Profit and Loss Statements; Balance Sheets; Cash Flow Analysis • Personal Financial Statements • Cost Summary • Listing of Collateral • Commitment Letter • Appraisal (Financing Real Estate) • Jobs Form • Resume on Principals • Business Plans New (detailed description of the business to include the market, competition, location, management, personnel, and purpose of loan) Existing (one page document describing plans to grow or expand) • Certification of Cost — Architectural estimates; equipment vendor quotes; construction cost estimates 4. Evaluations Once all materials requested from the applicant have been submitted, an analysis of the loan request will occur. • Staff assembles the information into a complete package and submits to the Loan Advisory Board for review. A decision is based upon factors including, but not limited to: • the ability of the applicant to repay the loan, 13 I 4 • the applicant's managerial capabilities, • the long term retention of jobs that will be provided. 5. Considerations All loans shall be presented to the Loan Advisory Board for consideration. Applicants will be afforded an opportunity to address tfie Board and to answer questions. 6. Loan Closing Once final approval has been authorized by the board, staff will assist in preparation of loan closing documents in conjunction with the financial institution, including necessary deeds of trust, liens, mortgage instruments and loan agreements. 7. Disbursement Prior to closing, a schedule of loan disbursements will have been negotiated. 8. Monitoring Monitoring of the implementation of the project will begin after the initial disbursement. Continuing technical assistance will be provided as needed by RLF staff. The Grant's Administration Division will provide assistance with environmental impact and Davis-Bacon wage requirement issues. E. Loan Servicing The loan will be serviced in house by RLF staff who will institute a portfolio management system which monitors each loan on an ongoing basis for timely payment. A servicing agreement may be established with an outside agency to service the loans for the city, if cost effective, where funds will be returned to the Revolving Loan Fund by the private financial institutions on at least a quarterly basis. If a default appears eminent, the staff of the RLF will work with the financial institution to avert such an occurrence. When default cannot be averted, the staff will commence foreclosure proceedings as mandated by State Law. 14 F. Administrative Costs Administrative costs will be provided by city funds or Community Development Block Grant funds. The City will allocate funds from the interest paid to the RLF and program fees if such funding sources become necessary. G. Recapitalization Strategy Capitalization of the RLF will be accomplished through program income funds from the CDBG program. H. Other Requirements 1. Compliance with Civil Rights Laws: Applicants for RLF assistance will be required to pledge not to discriminate against employment applicants. They will be required to sign an affidavit to that effect at the loan closing. Any proven instance of discrimination proven against the loan applicant shall be grounds for calling the loan. Compliance will be monitored on an annual basis. Active loans will be reviewed at least annually. Borrowers will be required to submit personnel data concerning the status of jobs which were created under the RLF, including pay scales, sex, and ethnicity. 2. Environmental Impact: Staff will consider the environmental impact of all proposed projects. (See Environmental Review Record Appendix III.) 3. Access for the Handicapped: All buildings involved in the proposed project must be made accessible for persons with impaired mobility. 4. Insurance: Key man insurance, flood hazard insurance, liability insurance, or other types may be required of the applicant. 5. Davis-Bacon: Construction financed in whole or in part by the RLF will meet the requirement of the Davis-Bacon Act, as amended (40 U.S.C. 276a-5). 15 6. Relocation: The location of loan projects will be located within the city limits of Beaumont. The City of Beaumont assures that loans will be recalled if the - - project and/or business activity move from the area. Businesses relocating jobs from another labor area are not eligible borrowers. 16 - PART Y ' Ayproval Expires ,)aauar7 31, 1987 ASSURANCES The applicant hereby assures and certifies that it will comply with the regulations, policies, guidelines and re- quirements, including Executive Order 12372, OHB Circu- 10. It will complyy with the requirements of Title 11 nod Title lars No. A-21, A-87, A-102, and A-110 as they relate to III of the 1lnilorm Ilriocation Assistance and Real - the application, acceptance and use of Federal funds for Property Acquisitions Act of 1970 (P.L. 91-646) -hick this federally assisted project. Also, the Applicant gives provides for fnir rind f•quitablc lrf!atment of persons assurance and certifies with respect to the grant that: displaced as a result of Federal nod federally assisted programs. I. It possesses legal authority to apply for the grant, and to finance and construct the proposed facilities; that a 1 L It will insure that the facilities under its ownership, resolution, motion or similar action has been duly lease or supervisors which shall be utilized in the adopted or passed as an official act of the applicnnt's accomplishment of the project are not listed on the F -governing body, authorizing the filing of the application, Environmental Protection Agency's (EPA) List of all understandings and assurances contained Violating Facilities and that"it will notify the Federal therein, and directing and authorizing the person 1�rantor agency of the receippt of any communication from identified as the official representative of the applicant the Director of the EPA Of cc of Fnvironrnental Review to act in connection with the application and to provide indicating that a facility to be utilized in the project such additional information as may be required. is under consideration for listing by the EPA. 2. It will give the sponsoring agency and the Comptroller 12. It will comply with the flood insurance purchase rrauire- General through any authorized representative access to and the right to examine all records, books,papers, or Act of Section 102Lo u( the Flood C at. 97r Protection approved documents related to cite grant. Act of 1973, I ithlic Law 9 Section 1 2( tat. a approved December 3l, 1976. Section 102(x) requires, on and 3. It will comply with all requirements imposed by FDA after March 2. 1975, the purchase of flood insurance in concerning apecial requirements of law, program require- communities where such insurance is available as a ments. and other administrative re nirements approved condition for :the receipt of any. Federal financial in accordance with Oh1B Circular A-1�2. a33iS1aace for construction or ncgitsition Purposes for use in any area that has been identified by the Secretary 4. The pro'ect will be properly and efficiently administered, of the Department of Ilotising and Urban Develoement operate and maintained. as an area having special flood hazards. The p)trase S. It will establish safeguards to prohibit employees from "Federal financial assistance" includes any form of using their positions fora pur(rose that is or gives the loan, grant, guaranty, insurance payment, rebate, sub- appearance of being motivated by a desire for private silly, disaster assistance loan or grant, or any other gain (or themselves or others, particularly those with form of direct or.indirect Federal assistance. whom they have family, business, or other ties. 13. It will assist EDA in its compliance with Section 105 of 6. It will comply with tyre provisions of the (latch Act the National Historic Preservation Act of 1966 as which limit the political activity of employees. amended (16 U.S.C. •170), Executive Order 11593, and 7. It will comply with the minimum wage and maximum hours the Archeolo cal and Historic Preservation Act of 1966 i provisions of the Federal Fair Labor Standards Act, as (16 U.S.C. A9a-1 et seq.) b (a) consulting with the they apply to hospital and educational institution State Ilistoric Preservation by on the conduct of employees of State and local governments. investigntions, ns necessary, to identify properties 8. It will comply with Title VI of the Civil Rights Act of listed in or elifible for inclusion in the National Reeister 1964 (P.L. 86-352) and in accordance with Title VI of of Ilistoric Places that are subject to adverse eifccts that Act, no person in the United States shall, on the (sce 36 CFR Part 800.8) by the activity, and notifying gground of race, color, or national origin, be excluded FDA of the existence l any such properties, anti by cram participation in, be denied the bent[its of, or be (Ip) comply in with all requirements established tiv otherwise subjected to discrimination under any ro ram f,UA to avoid or mitigate adverse effects upon such properties. or activity for which the applicant receives 'ef�eral financial assistance and will immediately take any measures necessary to effectuate this agreement. 1f an real property or structure thereon is provided or improved with the aid of Federal financial assistance extended to the Applicant, this assurance shall obligate the Appli- If the project involves the acquisition or development of land cant, or in the case of any transfer of such property, or the acquisition, construction, rehabilitation, alteration, any transferee, for the period during which the real expansion or improvement of a (nCility, the Applicant further property or structure is used for n purpose or for assures and certifies that: another purpose involving the provision of similar 14. It will cause work on the prujrrt to be cnmmrnced services or benefits. within n rcasonnhle time after receipt of notifirntion 9. It will com)tly with Title VI of the Civil Rlg)Lls Act from F:DA indicative that funds have been ap(,roveJ and of 1964 (42 USC 2000d) prohibiting employment din- that the project will be prosecuted to completion with criminntion where (1) ilia primary purpose of n grant is reasonable. diligrnce. to provide employment or (2) ill..; irninatory rmploynirnt 15. It will rofnply with the t rnvi.�ions of: 4 crctilivr t�r:irr practices will rrsnit in uncgnut trrnunrnt of persons who 11911R, rrinting in Ifon,l1 pinin nrnnnermrnt; t,.rrcuti"t nre or should be I en filing from the Rrnni-nided activity. Oriler 11296, rrintine to evalu. lion of (lnod h�xarJst It oppli ratilnn �iftl)it!%e right law� listed helow. and ex plained F.xrr.utivr Unlrr I l^_R}i, rrintu,,; to the pre+ ntion, I rontrol rind al-i-mrnl .,1 ,vnlry pnlluti,,n; Executive in EUA's Civil Itightn Guidelines, Older I11,100 relating to prt,trrtion of wrtfonds, anu 13 a. Section 112 of Publir Law 92-65 (42 U.S.C. 3121). (:1'"I1 .109.15(a), rrintine to exposure of the l'o rct to Prohibits sex din.rrirninalion in nssistnncr providr,l uuduc risk of flund. Act un-Irr o the Ipuhlir. R'nrks and Economic Ur.vrlopmrill 16. It will not dis ins& of nr rnrumhrr nts till& nr nthrr ,nter- Act of 19fi5, its amended. ( e•sts in the stir and I.n, ilitirs .Illria :hr ,•p&rlori �( b. Section 504 of tine ftrhabililatinn Art of Ir)73 (2(i 1-rdrral iutrrrst or "I'll, tltr (:,,. r C 11.5.(;. 791). firnhihits discrimination af;.tinsl Cllr nlnrnt tolls [ones, wltichevrr is thr lunp,rr. hnndi<•np((prd in any prneram or activity rrcriviuR Fcdcrnl financial nsyistnncc. 17. Conetrtnrtiun finanrrd in p•hol- .,r in ; art ' ,n,:s (lrnvided under I life lk „1 Ili, Putdir R'nrk, nn•i Frrnom,c c. AFr 1licrrimiunlion Art n( 1')75 (12 U.S.(:. 610^_). 1)cvrlopmrnt Art .,1 1`1n5, :per .pmrnrJrd, -ill -,.-t ail Prohibits •lisrrifrilfi:lli,m on the basis of al-.v in nnv rr, liirrmrnts of Ihr pror,ram nr act ivlty rrccivin f• r(IcraI assit;t1ner. l Uavt.-Ilnron 1rt. .1% amenor0 t l0 R 11.5.(:. 276,-276 a-S). PC(N ED-S40 (S-6S) 1�, Approval Expires .faauary 31, 1987 ASSURANCES - Continued Is. It will have sufficient funds nvnilable to meet the non- 20. It will provide and mnintnin rnmperent and ad.nuate Federal share of the cost for Construction projects, architectural r-ngineerina nupervinton and inspection at Sufficient funds will be available when construction is the construction site to In+ure tf,nt tf,e comrrlete•d work completed to assure effective operation and maintenance conforms with the approved plans rind �pcctficntions. of the facility (or the purposes constructed. thnt it will furnish pro Gress reports and such other 19. It will obtain approval by EDA of the final working information as EDA may require. drawings and specifications before the project is 21. It will operate and maintain t4,e facility in accordance advertised or placed on the market for bidding; that it with the minimum stnndnrds as may be renutred or pre- will construct the project, or cause it to be constructed, scribed by the npplicnble Fe,lcral, State and local to final completion in accordance with the npplication aGCncies for the maintenance and operation of such and approved plans and specifications: that tt will facilities. submit to EDA for prior approval changes that niter the costs of the project, use of space, or functional layout: °-2• It will require the facility to hr_ drriened to c^-t o_ ly -nth that it will not enter into a construction contracts) for the "American Standard Specifications nr !.lakin¢ the pro)'ect or undertake other activities until the condi- Buildings and Fncilities rlceessible toy an,i 1'sahle ' - GODS of the construction grant program(s) have been met. tite I'Itysically llandicapped., Yumher A-117-1-1961. as modified (-1f (:FR 101-17-703). The applicant well be responsible for conducting inspections to insure compliance with these specifications by the contractor. f --i ED-S40 (S.SS) it Approval Expires Janu■r-r )1, 19117 Part Vl Section B Environmental Information For All Projects Item 1. Are any facilities under your ownership, lease or supervision to be utilized in the accomplishment of this project, either listed or under consideration for listing on the Environmental Agency's List of Violating.Facilities? Q Yes ®No For Adjustment Implementation Projects N/A I Item 2. (a) Provide a flood plain map as EXHIBIT Vl-132 in accord with Item 3(b)(iii), regardless of whether an Environmental Impact Statement has been or must be prepared. (b) Is the project safe from flooding? Yes Q No (c) Is the flood insurance available? Q Yes Q No (d) Has flood insurance ever been purchased? Q Yes =No FOR ADJUSTMENT IMPLEMENTATION GRANTS ONLY (Omit if previously submitted) Item 3. (a) Has a Federal, State or Local Environmental Impact Statement or Analysis been prepared involving this property or its site? Q Yes Q No t Q Copy attached as EXHIBIT VI-133 i (b) If "NO," provide the information requested in Instructions as EXHIBIT VI-133 Item 4. (a) The State Historic Preservation Officer(SIiPO) has been provided a detailed project description and has been requested to submit comments to the appropriate EDA Regional Office on 02/25/87 l date) (b) Attach a copy of material submitted to SHPO and any comments received from SHPO as EXHIBIT VI-B4. (c) If a building is involved in the project, is it over 50 years old? Q Yes [71 No ; Item 5. Is the project site(s) located within or adjacent to any of the following areas? Check appropriate box for every item of the following checklist: YES NO UNKNOWN YES NO UNKNOWN I (1) Q Q Q Industrial (14) Q Q Q Estuary (Z) Q Q Q Commercial (15) Q Q Q Wetlands (3) Q Q Q Residential (16) Q Q Q Flood plain i (4) Q Q Q Agricultural (17) Q Q Q Wilderness(designated or proposed under the Wilderness I (5) Q Q Q Mining, Quarring Act) (6) Q Q Q Forests (18) Q Q Q Wild or Scenic river(pr(posed or I designated under the Wild and (1) Q Q Q Recreational Scenic Rivers Act) ; (8) [] Q Q Parks (19) Q Q Q disloncai, Areheolegieal S:'es (Listed �,n the rlaticn3l Aez ster (9) Q L] [] Ilospitals III Il s:anc Places or "hica ny be elig ble for listing) (10) Q Q Q Schools (20) Q Q Q Cn(icat Ilabitals endange1eC1 `�reatened species (11) Q Q Q Aquifer Recharge ,lrea L 12 (21) al;.unnenl Z:c3 lcr ( ) Q u (—; Jleep $lopes , ,llf cu3,�,y (13) Wildlife Refuge (22) �� i� 'anise 5:,-1s t;,;e ; eas " rs.rg r-7-i cD-;-o (s-8S) 13 A City of Beaumont a Council Agenda Item � c TO: City Council FROM: Kyle Hayes, City Manager PREPARED BY: Kandy Daniel, Treasurer MEETING DATE: November 23, 2004 AGENDA MEMO DATE: November 16, 2004 REQUESTED ACTION: Council consider a resolution certifying that the Small Business Revolving Loan fund (RLF) plan is consistent with and supportive of the area's current economic adjustment strategy; and the RLF is being operated in accordance with the policies and procedures contained in the RLF Plan and the loan portfolio meets the standards contained therein. RECOMMENDATION The administration requests approval of a resolution certifying that the Small Business Revolving Loan fund(RLF)plan is consistent with and supportive of the area's current economic adjustment strategy; and the RLF is being operated in accordance with the policies and procedures contained in the RLF Plan and the loan portfolio meets the standards contained therein. BACKGROUND The Small Business Revolving Loan Program was created with an initial grant from EDA of$500,000 with matching funds from CDBG of$250,000. To be approved for the grant,the city was required to develop a plan to support the area's economic development strategy and to create policies and procedures to administer the program. The original City ofBeaumont RLF Plan was adopted by the City Council on February 24, 1987 and was last re-certified on November 18, 2003. EDA requires that the plan be certified on an annual basis. There have been no changes to the RLF plan since it was last certified. BUDGETARY IMPACT None. PREVIOUS ACTION The RLF Plan was re-certified on November 18, 2003. SUBSEQUENT ACTION None. RECOMMENDED BY City Manager and Finance Officer.