Emptied chamber pot: Rancho Cordova council lets chamber slide on $192K loan debt – Sacramento News and Review – 08/08/2019
The Rancho Cordova City Council voted June 17 to convert an outstanding loan balance totaling $192,079.94 into a grant. The chamber had received a $201,882.04 loan in 2008 followed later by an additional loan of $36,832.52, according to a memorandum by Kim Juran-Karageorgiou, administrative services director for the city.
UPDATE: Due to the document management IT project the city began in January 2020, documents like agendas, agenda packet documents, staff reports, attachments, presentations, resolutions prior to 2020 are often not publicly available. All city council meeting videos prior to 2020 appears to be gone forever.
Because of this, I have posted these linked documents, previously publicly available, on this web site. Please save any documents that the city gives you, you access on your computer, as it is not certain they will remain available on their web site. The city must comply with CA Public Records Act requests. You can request these documents linked below, (and from my Citizen Toolbox page) and any other documents the city produces using a CPRA request.
On 06/17/2019 City of Rancho Cordova converted $192K loan balance from a 2008 loan to Chamber of Commerce into a Grant, forgiving the balance of debt.
9.2 Subject: A Resolution Authorizing a Sixth Amendment to the Loan Agreement with the Chamber of Commerce to Convert the Outstanding Loan Balance to a Grant.
Recommendation: Adopt the Resolution.
Result of Recommended Action: Adoption of the Resolution will authorize the City Manager to execute a Sixth Amendment to the Loan Agreement between the City and the Chamber of Commerce. That Amendment would convert the outstanding loan balance of $192,079.94 to a Grant and terminate the Loan Agreement.
Staff Report: Kim Juran-Karageorgiou, Administrative Services Director.
Advances Goals:1, 2 and 5.