Discussion and action on a Resolution authorizing the City Manager to execute a Subrecipient Agreement by and between the City of El Paso and Borderplex Community Capital, Inc. ("BCC"), providing $200,000 to BCC to administer ARPA Act funds to establish the BCC Interest Buy Down Program which is designed to provide small businesses affected by the COVID-19 pandemic with comprehensive support and access to affordable capital at a reduced interest rate to 2%.

What this record is

Amount

$200K

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

contract

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council

Introduced

October 7, 2024

On agenda

October 22, 2024

Where it was heard

City Council Oct 22, 2024 Approve Pass

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