The Revolving Loan Fund was created by City ordinance in 1984 following the receipt of a $300,000 Community Development Block Grant. The Committee reviews the application and makes a recommendation to the City Council. New loans are made from the principal and interest that is paid back to the City from Revolving Loan Fund (RLF) loans.
This seven-member Committee is appointed by the City Council to three-year terms. The board is composed of persons with business/finance backgrounds. At least one member is appointed to specifically represent the interest of the low to moderate income community. Current members include:
There are currently two vacant seats on this board. Individuals interested in serving on this board should complete and submit the Volunteer Application online form.
The Revolving Loan Fund Screening Committee meets whenever there is an application for a loan.