City CDBG Local Revolving Loan Fund
CDBG funds are to be used to improve the situations of families whose household income is in the Low to Moderate Income (LMI) range. As you probably know, we have approximately $232,000 in funds here locally.
The State of Kanas Commerce Department began sending communication recently of ways to use our Local Revolving Loan Funds to respond to changing market forces from the COVID-19 outbreak and Stay at Home orders. They also gave us some clear direction about what types of loans, terms, reductions in barriers that could be granted, etc. The loan cap is $35,000 per job retained per federal guidelines. Thus, if three Full-Time Equivalency jobs are retained, the CDBG option requires 51 % of the jobs to be LMI, or at least two of them.
Attached is the guidelines as adopted by the city commission and the LMI household income form for our county. One of these LMI forms must be completed for each employee retained with note on whether full or part-time. If the position is part-time, please note the average hours. The city commission has delegated authority to the City manager to be able to approve loans for under $20,000 in order to speed the process for as many as possible.
Please complete the attached packet and email it to the following link.
CDBG Application Packet
Email To: Click Here: email@example.com