Item 8-e - Nonprofit Capital Funding Loan Agreement

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3 is above a certain cost, the Board may want to require value engineering. He asked if staff 1 would bring back talking points in the fall. 2 Commissioner McKee said this policy needs more in depth discussion, and he still has 3 concerns about how the Board controls the amount it provides. He endorsed what 4 Commissioner Marcoplos said about bringing this item back in the fall or at the Board retreat. 5 Commissioner Burroughs agreed with all that has been said. She said staff may want to 6 consider over the summer about having non-profits demonstrate that owning is better than 7 renting. She asked what would happen if the non-profit were to sell a building, in relation to the 8 amount of money invested by the County. She said she remembered the past discussion, and 9 the Board must be fair. 10 Commissioner Price said she would like to consider partnerships between the County 11 and non-profits. She said she wanted to support this in order to begin the conversation. 12 Commissioner Jacobs said if the Board is going to consider funding a kitchen, then it is 13 important to recall that the County has a policy that a certain percent of the food it serves needs 14 to be locally grown; and this may be one of the strings the County wishes to attach to any 15 funding. 16 Chair Dorosin asked Commissioner Marcoplos and Bonnie Hammersley if they had 17 talked with IFC about the ramifications of the Board not providing an answer this evening. 18 Commissioner Marcoplos said he had not spoken with IFC. 19 Bonnie Hammersley said there is a copy of an email at the Commissioners’ places from 20 Robert Dowling, Community Home Trust Executive Director. She said she spoke with him 21 about funding, as well as the possibility of an interest free loan. She said staff can continue to 22 talk with the IFC about partnering, 23 24 From: Robert Dowling [mailto:rdowling@communityhometrust.org] 25 Sent: Monday, June 11, 2018 5:31 PM 26 To: Bonnie Hammersley 27 Cc: Jackie Jenks; kevincfoy@protonmail.com 28 Subject: RE: Information Needed 29 30 Hi Bonnie, 31 32 First, I want to let you know that we are grateful for your support in trying to identify a way 33 forward. Not every County Manager would have done that. 34 We are also very grateful for Commissioner Dorosin’s willingness to assist IFC. And ideally, if 35 four commissioners will agree, we would love for the County to grant funds to FoodFirst. 36 37 However if it’s not possible to obtain approval for a grant, a zero-interest loan would be helpful. 38 But as you know Bonnie, a loan does not contribute to the $5.3MM needed to build FoodFirst. 39 40 A zero-interest loan would be useful if our financial pledges come in more slowly than we 41 expect. It would be even more useful if the County would forgive any amounts outstanding two 42 years after completion of construction. That way, IFC would not be burdened with a repayable 43 loan, even if some pledges are never collected. 44 I hope this is an adequate response for your discussion tomorrow evening. 45 Please let me know if you have questions. 46 Thank you again Bonnie for your support of FoodFirst. 47 48 Robert 49 Robert Dowling 50 22