Memorandum
Date: February 23, 2021
To: The Honorable Bruno, Chair, Lake County Board of Supervisors
From: Carol J. Huchingson, County Administrative Officer
Subject: 9:15 A.M. - PUBLIC HEARING - Community Development Block Grant Program - CARES Act Round 2 and 3 Presentation and Consideration of Resolution Approving an Application for CDBG CARES Act Round 2 & 3 Funding and the Execution of Grant Agreement and any Amendments for Funds in the Amount of $738,187 for a Small Business Assistance Loan Fund Program
Executive Summary: (include fiscal and staffing impact narrative):
The California Department of Housing and Community Development (HCD) announced the availability of Community Development Block Grant (CDBG) Coronavirus Aid, Relief and Economic Security (CARES Act) Round 2 and 3 funding for local assistance on December 18, 2020.
The State has allocated $738,187 to the County of Lake for pandemic related programs. Prior to submitting an application, County must hold a public hearing and then submit a funding request with a corresponding Resolution detailing the specific use of the funds. Projects and programs under this funding source must benefit low and moderate-income households and provide assistance to mitigate the impacts of the COVID-19 pandemic.
Due to the impacts of the COVID-19 Shelter in Place order, many local small businesses are in need of flexible low interest capital to help them recover from the loss of revenue during these business closures. The Small Business Assistance Loan Fund Program is designed to encourage businesses to retain existing employees and, in time, to provide capital to help create new jobs.
On July 14, 2020, your Board approved a Resolution to submit an application for CDBG funds from the annual CDBG State funding in the amount of $500,000 for small business loans. In addition, on August 25, 2020, your Board also approved a Resolution to submit an application for the CDBG State funding allocation in the a...
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