| Name of Board/Commission |
Loan Committee
(Economic Development Revolving) |
Date 1/25/08 |
| Authority for Creation |
The Economic Development Revolving Loan Committee was created by a resolution adopted by the City Council on March 18, 1985. |
| Purpose/Function |
The purpose of the Economic Development Revolving Loan Committee is to review loan requests to assist small businesses in creating or retaining jobs to benefit low to moderate income individuals and to generally stimulate the expansion and development of small businesses located within a defined area. |
| Method of Appointment |
Six members are appointed by the City Council upon the recommendation of the Mayor. The individuals represent the following areas: banking, legal, small business, general business, and two open appointments. The seventh member is a representative of the Housing/Neighborhood Development Department staff. |
| Number of Members |
Seven |
| Terms of Office |
Three years |
| Meeting Date and Time |
First and third Wednesdays of each month - 4:00 p.m. |
Chief Staff Person
John I. Allen |
Title
Business Development Administrator |
Telephone Number
(336) 727-2741 |