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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />MEETING DATE: October 6,1998 <br />Action Agenda <br />Item # S �J <br />SUBJECT: Orange County Small Business Loan Program <br />DEPARTMENT: EDC PUBLIC HEARING: Yes No _X_ <br />BUDGET AMENDMENT NEEDED: Yes No X <br />ATTACHMENT(S): INFORMATION CONTACT: <br />Revised Operating Policies and Margaret Cannell (ext. 2325) <br />Procedures document <br />TELEPHONE <br />NUMBERS: <br />Hillsborough - <br />732 -8181 <br />Durham - <br />688 -7331 <br />Mebane - <br />(336) 227 -2031 <br />Chapel Hill - <br />967 - 9251/968 -4501 <br />Purpose: <br />To approve the revised Small Business Loan Program "Operating Policies and <br />Procedures" <br />Background: <br />At its September 15, 1998 meeting, the Board of County Commissioners approved the <br />Operating Policies and Procedures document of the Small Business Loan Program, with <br />revisions. Submitted for approval at the BOCC's October 6th meeting is the document <br />with revisions completed, as noted below: <br />Under "Commitment Period" (document page 1) — Bold text denotes that the <br />loan program will be reviewed after three years. <br />Under "Procedures," paragraph 5 (document page 6) — language added regarding <br />reports to BOCC. <br />Under "Loan Analysis," opening paragraph (document page 6) — language added <br />to address concerns by BOCC that the Loan Committee look at employer's plan <br />for wages, health insurance, term of residency, etc. <br />Recommendation: <br />The Manager recommends that the Commissioners approve the Operating Policies and <br />Procedures document with revisions as noted. <br />