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5 <br />construction to begin, and repayment to occur in years 2 and 3. She said if pledges are made, 1 <br />but not received, IFC would ask that this portion of the loan be forgiven. 2 <br /> 3 <br />Chair Dorosin said there is consensus to review the policy in the fall, and asked if the 4 <br />Board would accept leaving the no interest loan on the table, in order to get more information 5 <br />from staff on the 19th. He said if the Board does not do a loan, then the $100,000 can go to the 6 <br />reserve. 7 <br />Bonnie Hammersley said the Board can park the monies in the social justice fund, which 8 <br />is at $250,000 in the budget. 9 <br /> 10 <br />A motion was made by Commissioner Marcoplos, seconded by Commissioner Price to 11 <br />revisit this policy in the fall, and to add the zero interest loan criteria item tentatively for the June 12 <br />19th meeting. 13 <br /> 14 <br />Commissioner Price asked if Commissioner Marcoplos meant to discuss this at a work 15 <br />session in the fall or at the retreat in January 2019. 16 <br />Commissioner Marcoplos said the fall. 17 <br />Commissioner Rich said the loan part sounds too open to her, and asked if the vote 18 <br />could be split into two motions. 19 <br />Chair Dorosin said yes, and the first vote would be to discuss the policy at a work 20 <br />session as early as possible in the fall. 21 <br /> 22 <br />VOTE: UNANIMOUS 23 <br /> 24 <br />A motion was made by Chair Dorosin, seconded by that the Board will put aside 25 <br />$100,000 in the social justice fund to be earmarked for a zero interest loan with staff bringing 26 <br />back the criteria will work for the repayments and terms on June 19, 2018. 27 <br /> 28 <br />Travis Myren said the policy states that staff would negotiate the terms with the 29 <br />applicable outside agency, but staff can bring a general framework. 30 <br />Commissioner Rich asked if this is $100,000 over three years, or $100,000 per year, for 31 <br />three years. 32 <br />Chair Dorosin said he was thinking it would be $100,000 for this year. 33 <br />Bonnie Hammersley said she would assume this would be reviewed each year. 34 <br />Chair Dorosin said to do this for a year, have the policy discussion and then re-visit this 35 <br />at next budget cycle as a loan or something else. 36 <br /> 37 <br />Commissioner Rich asked if this is part of the motion. 38 <br />Chair Dorosin said yes. 39 <br /> 40 <br />Commissioner Rich said she has questions about possibly forgiving the loan. 41 <br />Chair Dorosin said that is not part of the discussion now. 42 <br />Commissioner Rich said the Board is talking about the loan and voting now, and asked 43 <br />if the Board is committing to making the loan this evening. 44 <br />Commissioner Price said no, not until next week after staff brings back information. 45 <br />Bonnie Hammersley said moving the funds from the social justice fund would be a 46 <br />simple budget amendment, and can be done at any time during the year. 47 <br />Bonnie Hammersley asked if more clarification would be provided on what the Board 48 <br />seeks from staff next week. 49 <br />24