City of Oakland - File #: 18-1820

• File #: 18-1820
• Version: 1
• Type: City Resolution
• Status: Passed
• File created: 5/14/2019
• In control: * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council
• On agenda: 5/4/2019
• Final action: 6/4/2019
• Title: Subject: Write Off Of Three Loans For Total Of $241,926 From: Housing And Community Development Department Recommendation: Adopt A Resolution Authorizing The City Administrator To: Write-Off Three Uncollectible Loans For A Total Of $241,926 Under The Economic Development Administration Revolving Loan (EDA RL) Program To Decrease - Reportable Default Rate, Enabling The City To Maintain The EDA RL Balance For Future Loans To Oakland Small Businesses; And Authorize Without Returning To Council, Future Small Business Loans That Meet The EDA RL Grant Requirements Up To The Available Balance Of $201,676.30 Under EDA Award #07-39-02873

Date	Ver.	Action By	Action	Result
6/4/2019	1	* Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council	Adopted	Pass
5/28/2019	1	*Community & Economic Development Committee	Approved the Recommendation of Staff, and Forward	Pass
5/16/2019	1	*Rules & Legislation Committee	Scheduled

Title

Subject:                      Write Off Of Three Loans For Total Of $241,926

From:                                           Housing And Community Development Department

Recommendation: Adopt A Resolution Authorizing The City Administrator To: Write-Off Three Uncollectible Loans For A Total Of $241,926 Under The Economic Development Administration Revolving Loan (EDA RL) Program To Decrease - Reportable Default Rate, Enabling The City To Maintain The EDA RL Balance For Future Loans To Oakland Small Businesses; And Authorize Without Returning To Council, Future Small Business Loans That Meet The EDA RL Grant Requirements Up To The Available Balance Of $201,676.30 Under EDA Award #07-39-02873