2023-2079 Resolution No. 2023-2079
A resolution approving the closure of the COVID-19 Microloan Program and transfer of
the balance of$102,127.83 into the Revolving Loan Fund Program.
WHEREAS, the Janesville Common Council adopted the COVID-19 Pandemic Recovery Plan in
2020, which outlined stabilization and supportive actions to be taken by the City to retain local
businesses and hasten economic recovery. One action in the Plan was the proposal of a Small
Business Microloan Fund, which assisted businesses that were not eligible for the County Small
Business Loan Fund or the Paycheck Protection Program Loan (PPP).
WHEREAS, the COVID-19 Pandemic Recovery Plan stated that when Microloan funds were
repaid, they would be used to provide additional cash for future loans for the Downtown Revolving
Loan Fund.
WHEREAS, the Janesville Common Council recognized that the promotion of downtown
development is an overall goal when it adopted Council Policy Statement No. 61B (Commercial
Economic Development) in 2022.
WHEREAS, the Janesville Common Council recognized that the review and administration of
Revolving Loan Fund (RLF) Program intended to leverage private investment and stimulate
redevelopment of properties in Janesville's central business district is an overall goal when it
adopted Council Policy Statement No. 91 (Revolving Loan Fund Committee) in 2023.
WHEREAS, this resolution addresses the termination of the COVID-19 Microloan Program,
meaning that no new Microloans can be applied for, considered by the Revolving Loan Review
Committee, or obtained by applicants.
WHEREAS, the Common Council of the CoJ hereby finds the approval of the termination of the
COVID-19 Microloan Program to be appropriate, and in the best interest and of benefit to the CoJ,
its citizens, residents, taxpayers, and the overall community.
NOW, THEREFORE, BE IT RESOLVED, by the Common Council of the City of Janesville that
the proposed termination of the COVID-19 Microloan Program and the transfer of $102,127.83
into the Revolving Loan Fund Program is hereby approved; and
BE IT FURTHER RESOLVED, that the Acting City Manager, on behalf of the City of Janesville,
and those he authorizes on his behalf is/are hereby authorized to negotiate, draft, modify, amend,
review, enter into, and file all such other documents, papers, and agreements, take whatever
other actions, and to make and enter into whatever other changes and amendments to same,
which the Acting City Manager may, from time to time, deem necessary and/or desirable to
effectuate the intent of this Resolution.
ADOPTED: January 23, 2023 Motion by: Consent
Second by: Consent
APPROVED: Councilmember Aye Nay Pass Absent
Benson X
'—' Burdick X
David Moo ting ity Manager Jackson X
ATTEST: Marklein X
Marshick X
Miller X
Lorena E. Stottler, City Clerk-Treasurer Williams X
APPROVED AS TO FORM:
Wald Klimc y , City Attorney
Proposed by: Economic Development Office
Prepared by: Economic Development Office