DEPARTMENT
Department of Community Development
REQUESTED ACTION (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
The Department of Community Development request approval of a Resolution approving the orderly closeout of the Fulton County Business Improvement Loan Program (BILP) consistent with the framework approved by the Department of Community Development; and authorizes the County Manager or His Designee to execute all necessary and related documents to implement the policy for the BILP and to effectuate its closeout; and for other related purposes. (APPROVED)
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REQUIREMENT FOR BOARD ACTION (Cite specific Board policy, statute or code requirement)
In accordance with meeting the HUD National Objective for Economic Development. Statutory Citations Section 101(c), Section 104 (b), Section 105 (c), 570.208, 570.506.
STRATEGIC PRIORITY AREA RELATED TO THIS ITEM (If yes, note strategic priority area below)
Health and Human Services
COMMISSION DISTRICTS AFFECTED
All Districts ?
District 1 ?
District 2 ?
District 3 ?
District 4 ?
District 5 ?
District 6 ?
IS THIS A PURCHASING ITEM?
No
SUMMARY & BACKGROUND (First sentence includes Agency recommendation. Provide an executive summary of the action that gives an overview of the relevant details for the item.)
The Department of Community Development recommends Board approval to orderly close out the Fulton County Business Improvement Loan Program (BILP) program and implement a loan collection policy to effectuate its closeout.
The department continues to have a reoccurring audit finding related to the administration of a defunct Business Improvement Loan Program (BILP). The loan servicing system, Loan Management Software (LMS), that has been historically used to track the loans, went out of business in 2018 and with the exception of six (6) of the businesses who received loans from the County, all have been dissolved by the Secretary of State. Of the remaining six active bu...
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