2016-26RESOLUTION 2016- 26
COUNCIL MEMBER WOLFF INTRODUCED THE FOLLOWING RESOLUTION:
A RESOLUTION TO AUTHORIZE THE CITY OF BLAIR CITY COUNCIL TO RELEASE
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) RE -USE FUNDS TO PROVIDE
DIRECT FINANCIAL ASSISTANCE TO STERLING AMBITIONS, LLC.
WHEREAS, the City of Blair, Nebraska received Community Development Block Grant
(CDBG) funds under the Housing and Community Development Act of 1974, and
WHEREAS, the City of Blair, Nebraska has collected receivable program income from
that CDBG award, and
WHEREAS, the City of Blair, Nebraska has entered into an agreement with the
Metropolitan Area Planning Agency (MAPA) to assume responsibility for implementing a Non -
Profit Development Organization (NDO) Revolving Loan Program for the City as a component of
the MAPA Foundation's overall Revolving Loan Fund portfolio, and
WHEREAS, the MAPA Foundation shall administer a program that is in accordance with
the City's Local CDBG Reuse Plan, and
WHEREAS, Sterling Ambitions, LLC located in the City of Blair, Nebraska has applied
for Revolving Loan Fund assistance from the MAPA Foundation for the purpose of working
capital, and
WHEREAS, the City of Blair is authorized to release CDBG program income proceeds to
the MAPA Foundation to supplement a loan package to Sterling Ambitions, LLC in accordance
with the City's Local CDBG Reuse Plan and Agreement for NDO Service.
NOW THEREFORE, BE IT RESOLVED, the City of Blair City Council authorizes the
release of $50,000 in eligible CDBG program income proceeds to the MAPA Foundation.
BE IT FURTHER RESOLVED THAT, the MAPA Foundation, upon satisfactory
execution of the loan agreement between MAPA and Sterling Ambitions, LLC, shall release to
said business a loan in the amount of fifty -thousand dollars ($50,000).
DATED this 27th Day of September, 2016.
COUNCILMEMBER ANDERSEN MOVED THAT THE RESOLUTION BE ADOPTED AS
READ, WHICH SAID MOTION WAS SECONDED BY COUNCILMEMBER HANSEN.
UPON ROLL CALL, COUNCILMEMBERS STEWART, HANSEN, WILLIS, ANDERSEN,
WOLFF, JENSEN AND HALL VOTING "AYE", AND COUNCILMEMBERS NONE VOTING
"NAY", THE MAYOR DECLARED THE FOREGOING RESOLUTION PASSED AND
ADOPTED THIS 27TH DAY OF SEPTEMBER, 2016.
CITY OF BLAIR, NEBRASKA
BY
J M , � REALPH, MAYOR
ATTEST:
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BRENDA R. WHEELER, CITY CLERK
(SEAL)
STATE OF NEBRASKA )
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WASHINGTON COUNTY )
BRENDA R. WHEELER, hereby certifies that she is the duly appointed, qualified, and acting City
Clerk of the City of Blair, Nebraska, and that the above and foregoing Resolution was duly passed
and adopted, at a regular meeting of the Mayor and City Council of said City held on the 27th day
of September, 2016.
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BRENDA R. WHEELER, CITY CLERK