PURPOSE: The Commercial Revolving Loan Fund Committee was established to review loan applications for the downtown boundary and make recommendations to the Common Council.
POWERS AND DUTIES: The committee reviews loan applications and develops a recommendation to the Finance Committee and Common Council to approve or deny a loan. The source of funds for this program are federal Community Development Block Grant funds, which carry a separate set of policies and guidelines that must be adhered to.
STRUCTURE: The Commercial Revolving Loan Fund Committee shall consist of seven (7) members having special expertise and knowledge of commercial lending and economic development processes. Membership shall include a representative from the City of West Bend Department of Development, the Downtown West Bend Association, downtown merchants, and the legal and financial professions. The committee meets on an as needed basis.
TERMS: The members of the Commercial Revolving Loan Fund Committee shall be appointed by the mayor, subject to confirmation by the Common Council at the organizational meeting.
Jay Shambeau, City Administrator
Rich Kasten, Alderperson
City of West Bend
1115 S. Main Street
West Bend, WI 53095