Communication from the City Manager with a Request for the Following: A. APPROVE the New EDA CARES ACT REVOLVING LOAN FUND Plan; and B. ADOPT an ORDINANCE Amending the CITY OF PEORIA 2020-2021 BIENNIAL BUDGET Relating to a New Revolving Loan Fund Program through a Grant from the Economic Development Administration (EDA) Cares Act Recovery Assistance, in the Amount of $1,419,000.00, and the Corresponding Expenditures of $1,290,000.00 to Establish the Loan Fund and $129,000.00 for Administrative Costs.

Committee

City Council

Requested by

Economic Development

Introduced

August 10, 2020

On agenda

August 25, 2020

Passed

August 25, 2020

Enacted

August 25, 2020

Enactment no.

ORD 17,787