HomeMy WebLinkAboutC18-013 Northwest Loan Fund Community Development Block GrantC40
EAGLE COUNTY
January 23, 2018
Robert Tadd
Mgr. CDBG Business Program
Colorado Office of Economic Development
1625 Broadway, Suite 2700
Denver, CO 80202
Board of County Commissioners
970-328-8605
970-328-8629(f)
eaglead mi n@eagl ecou nt".0
www.eaglecounty.us
Re: Contract Fi 6CDB 16-602 - Request for Third Extension and Amendment
Dear Mr. Tadd:
As you are aware, Eagle County is the recipient of a Community Development Black Grant
(CDBG) pursuant to that certain Grant Agreement between Eagle County and the State of
Colorado known as Contract Fi 6CDB 16-602. The Northwest Loan Fund (NLF) is a
subgrantee of the CDBG grant funds.
On behalf of the NLF, Eagle County hereby requests an amendment to Contract F16CDB 16-
602 (the "Contract") to extend the Contract for an additional two years through March 21,
2020, and to add additional funding as outlined below:
$400,000.00 for Loans
$ 64.000.00 Administrative Funds
$464,000.00 Total Funds Requested
To date, NLF has approved $1,095,000-00 of $1,136,000.00 in Loans and has utilized
$120,640.00 of $128,000.00 of Administrative Funds.
NLF has had requests for additional loans for the fallowing projects:
Acquisition of Laundry $240,000.00
Recreational Facility 50,000.00
Guest Ranch expansion $100.000.00
TOTAL $390,000.00
500 Broadway, P.O. Box 850, Eagle, Colorado 81631
C18-013
IFO
EAGLE COUNTY
Board of County Commissioners
970-328-8605
970-328-8629(f)
eagl a ad m i n (m eagl ecou nty. u s
www.eaglecounty.us
We are requesting the sum of $464,000 as set forth above to allow the NLF to provide
funding for additional projects. The loans that NLF has approved to date will create 52 (or
more) jobs. We are pleased that the funds under this Contract have been of service to
businesses in Northwest Colorado and look forward to providing additional funding to other
projects.
Sincerely,
EAGLE COUNTY BOARD OF COMMISSIONERS
�� ev �'..'I' eees
Jeanne McQueeney, Chair
500 Broadway, P.O. Box 850, Eagle, Colorado 81631
