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File #: 18-1820    Version: 1 Name:
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
Attachments: 1. View Report, 2. 87722 CMS

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