Title:
Title
City Council COVID-19 Response: CARES Act Framework and Funding Priorities; Small Business Recovery Program: Augment Forgivable Loan Funding and Establish Technical Assistance Component
End
FileID
File ID: 2020-00764
Location
Location: Citywide
End
Recommendation:
Recommendation
1) Review, discuss, and take action regarding the Coronavirus Aid, Relief and Economic Security (CARES) Act Small Business Recovery Program's Loan Program and Technical Assistance (Technical Assistance) Component; and 2) adopt a Resolution: a) establishing the Technical Assistance Component; b) establishing a $5 million revenue and expenditure budget in the CARES Act Program (G02610100) in the Federal CARES Act Fund (Fund 2704) for the Small Business Recovery Program - Technical Assistance Component; c) directing the City Manager or City Manager's designee to develop recommendations for appropriation of the technical assistance funding and return to City Council for approval after the City Council's July 2020 recess: and d) increasing the revenue and expenditure budget in the CARES Act Program (G02610100) in the Federal CARES Act Fund (Fund 2704) by $5 million for the Small Business Recovery Program's Forgivable Loan.
FileName
Contact: Howard Chan, City Manager, (916) 808-7488; Michael Jasso, Assistant City Manager, (916) 808-1380, Office of the City Manager; Susana Alcala Wood, City Attorney, (916) 808-5346, Office of the City Attorney
Body
Presenter: Michael Jasso, Assistant City Manager, (916) 808-1380, Office of the City Manager; Leslie Fritzsche, (916) 808-5450, Economic Investment Manager, Office of Innovation and Economic Development
Attachments:
1-Description/Analysis
2-Coronavirus Relief Fund Programs
3-Resolution
Description/Analysis
Issue Detail: On March 13, 2020, the City declared a local emergency in response to the spread of the COVID-19 pandemic. Several actions were taken by the City to provide immediate economic relief to ...
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