Agenda - 01-05-1987 - Laserfiche WebLink

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AMMON 145 RESOLUTION TO INVITE THE CAPITAL ECONOMIC DEVELOPMENT CORPORATION [CEDCO) TO EXPAND THE TERRITORIES OF ITS SMALL BUSINESS ADMINISTRATION (SBA) APPROVED CERTIFIED DEVELOPMENT COMPANY PROGRAM BOUNDARIES TO INCLUDE ORANGE COUNTY WHEREAS, the Board of the Orange County Commissioners sees the need to help small businesses in Orange County by improving the availability of Long—term fixed asset financing to small businesses at affordable terms and conditions; and WHEREAS, the Board of the Orange County Commissioners believes that expansion, growth and viability of small businesses in Orange County will expand employment opportunities for Orange County Citizens, expand the tax base, increase business ownership opportunities and expand the economic base of the community; and 1980 amendment to the the authority fo theSmallBusiness Investment rAct;sandund in the July 2, WHEREAS, the Capital Economic Development Corporation, hereafter known as CEDCO, is an authorized Certified Local Development Corporation with the resulting capabilities to provide long—term, fixed asset financing through section 504 loans to certain businesses and individuals owning or leasing property located within designated boundaries of the CEDCO service area; therefore BE IT RESOLVED BY THE ORANGE COUNTY BOARD OF COMMISSIONERS: 1 . That Capital Economic Development Corporation (CEDCO) is invited to expand its service territory to encompass Orange County, condi- tional upon the following: a) That CEDCO would make the SBA 504 program available to Orange County at no cost, and no time or other commitment or input from the County; and b) That CEDCO would inform area bankers of the program and keep regular contact with Orange County bankers, and with the Orange County Economic Development Commission. 2. That the County Clerk furnish to CEDCO a certified copy of this Resolution. Adopted this day of 1987.