City of Rancho Cordova converts chamber loan into $192,079 Grant

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.

Tues 01/08 4:00pm City Work Session: Code Enforcement Priorities

Received this in the January Fresh Events newsletter from City of Rancho Cordova.

UPDATE 1: START TIME 4PM – City Manager Cyrus Abhar has said via email that the start time of this meeting is 4pm. He said he will look into the confusion on the incorrect posting of the start time.

City Manager Cyrus Abhar referenced it during the November 19th and  November 5th City Council meeting Public Comment periods after Sharon Judy, Angel Ball and Walt Myers addressed the City Council about the follow up on RV Parking and Access.

Tuesday, January 8, 5:30 PM: City Council Special Meeting/Work Session
Rancho Cordova City Hall, 2729 Prospect Park Drive
The next City Council Special Meeting/Work Session will occur on January 8.

The topic is Code Enforcement Priorities.

Meeting calendar page (No Agenda yet)