2001-159RESOLUTION 2001-159
A Resolution Dissolving the City of Janesville Local Economic Development
Revolving Loan Fund Committee
WHEREAS, the City Council created the Local Economic Development Revolving Loan Fund
Committee on October 3, 1983, by adopting Resolution 83-665; and
WHEREAS, the Local Economic Development Revolving Loan Fund was capitalized with
Community Development Block Grant monies to make loans to businesses that created job
opportunities for low-to-moderate income persons; and
WHEREAS, the Local Economic Development Revolving Loan Fund monies have been
reprogrammed to address the housing needs of low-to-moderate income families so that there are no
more Loan Funds available; and
WHEREAS, the members of the Local Economic Development Revolving Loan Fund Committee have
served the City of Janesville diligently, making 19 successful loans totaling $760,670 over the past 18
years;
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Janesville that the
Local Economic Development Revolving Loan Fund Committee is hereby dissolved; and
BE IT FURTHER RESOLVED, that the Common Council hereby commends the members of the
Local Economic Development Revolving Loan Fund Committee and thanks them for their dedicated
service to the citizens and to the development needs of the community.
ADOPTED: April 23, 2001
APPROV~ED:
S~ve~ E. Sheiffer,~ity-Manag~4
ATTEST:
Jean/~ ~Th'rfT, (Ji~ ~lerk-Treasurer
APPROVED AS TO FORM:
City Attorney ~ '
MOTION BY: 0' Leary
SECOND BY: Williams
COUNCILMEMBER AYE NAY PASS ABSENT
STEEBER X
WILLIAMS X
DAMRON X
BRIEN X
MURPHY X
O'LEARY X
DEGARMO X
Proposed by: City Manager
Prepared by: Director of Economic Development