RES-ORA-0510 Restating Orange Redevelopment Agency's Small Business Assistance ProgramsRESOLUTION NO.ORA-
0510 A RESOLUTION OF THE
ORANGE REDEVELOPMENT AGENCY AMENDING
AND RESTATING THE ORANGE
REDEVELOPMENT AGENCY'S SMALL BUSINESS
ASSISTANCE PROGRAMS FOR THE ORANGE MERGED
AND AMENDED REDEVELOPMENT PROJECT
AREA.WHEREAS, by Resolution No. ORA-0456 adopted on August 22, 2006,
the Board of Directors (Agency Board) of the Orange Redevelopment Agency (Agency)
established the Small Business Assistance Programs, under which the Agency would loan funds
from tax increment revenues of the Orange Merged and Amended Redevelopment Project
Area (the Project Area), bond proceeds, and any other funds of the Agency legally available
therefor to qualified owners or tenants within the Project Area for the purpose
of rehabilitating commercial buildings or
structures; and WHEREAS, by Resolution No. ORA-0469 adopted on September
11, 2007, the Agency Board amended, modified and supplemented certain portions of
the Small Business Assistance Programs by replacing the description of the various programs
that was attached as Exhibit A to Resolution No. ORA-0456 with the description of
the Amended and Restated Small Business Assistance Programs in the form attached to
Resolution No. ORA-
0469 as Exhibit A; and WHEREAS, the Agency Board desires to
further amend, modify and supplement certain portions of the Small Business Assistance Programs
by replacing the description of the various programs that was attached as Exhibit A to
Resolution No. ORA-0469 with the description of the Amended and
Restated Small Business Assistance Programs (herein referred to as the Programs) in the form attached hereto
as Exhibit A and
incorporated herein by this reference; and WHEREAS, the Agency Board has duly considered
all of the terms and conditions of the Programs in the
form attached hereto as Exhibit A.NOW, THEREFORE, be it resolved by the
Board of Directors of the Orange Redevelopment Agency, on the basis of the facts set forth in
the agenda report presented to it and any testimony received at the meeting at which
this matter was considered, as follows:Section 1. The
Section 2. The Programs, as more particularly described on Exhibit A attached
hereto, are hereby approved for the purpose of amending and restating the Small Business
Assistance Programs that were initially established by the Agency Board by Resolution No.
ORA-0456 adopted on August 22, 2006 and subsequently amended and restated
by Resolution No. ORA-0469 adopted on September 11, 2007 (herein referred to
as the Previous Programs). The Programs described on Exhibit A attached hereto are
intended to replace in their entirety the
Previous Programs.Section 3. The Agency's General Counsel (or his designee) is hereby
authorized and directed to prepare, or cause to be prepared, all documents deemed necessary
and appropriate to implement
the Programs.Section 4. The Agency Board hereby establishes an internal loan
committee (herein referred to as the Loan Committee), comprised of the Agency's Assistant
Executive Director,Finance Officer and General Counsel (or their respective designees), the Agency'
s Senior Project Manager and a representative of the Executive Director's office. The
Agency's Assistant Executive Director (or his designee) will be responsible for the
administration of the Programs. The Loan Committee will be responsible for the evaluation
of each application for a loan (or loans) under the Programs and for the formulation
of a recommendation thereon tothe Agency's Executive Director or to the Agency
Board in accordance with the criteria set forth in Sections 5, 6 and 7 of
this Resolution.Section 5. For loan applications under the Programs to qualified owners
and tenants within the Project Area having a value of $60,000 or less, the Executive
Director is authorized, on behalf of the Agency, to review the recommendations of the
Loan Committee and to approve or disapprove such applications (including, in the case of
any negative recommendations of the Loan Committee, to either affirm, reverse, or
reverse with modifications such recommendations). The decision of the Executive Director shall
be final and the applicant shall be so notified of the Executive Director'
s determination.Section 6. Subject to the provisions of Section 7, below, related to the
procedure to be followed in the event of a negative recommendation of the Loan Committee,
the Agency Board shall review the recommendations of the Loan Committee and either
approve or disapprove loan applications under the Programs to qualified owners and tenants
within the Project Area having a value in excessof $
60,000.Section 7. For loan applications having a value in excess of $60,000,
the Executive Director is authorized, on behalf of the Agency, to review any negative
recommendations of the Loan Committee and to either affirm, reverse, or reverse with
modifications such recommendations. If the Executive Director reverses a negative recommendation
of the Loan Committee, the Agency Board shall review the recommendation of
the Executive Director and either approve or disapprove such loan application. If the
Executive Director affirms a negative recommendation of the Loan Committee, his determination shall
be final and the applicant shall be so notified of the Executive Director'
s
Section 8. If a loan application is approved under Sections 5, 6 or 7, above, the
Agency's Executive Director is authorized to take such steps and execute such documents on
behalf of the Agency as determined necessary and appropriate by the Agency's General
Counsel (or his designee) in order to make such loans under the Programs.
Section 9. The officers and employees of the Agency are authorized and directed,
jointly and severally, to do any and all things necessary or advisable in order to effectuate the
purposes of this Resolution and to administer the Agency's obligations, responsibilities and
duties to be performed hereunder and under the Programs.
ADOPTED this 13th day of April, 2010.
i r
yn) . a ecche, Chairman
ATTEST:
Mary E. rp ,Agency Clerk
I hereby certify that the foregoing Resolution was duly and regularly adopted by the
Orange Redevelopment Agency at a regular meeting thereof held on the 13th day of April,
2010, by the following vote:
AYES:DIRECTORS:Smith, Cavecche, Dumitru, Bilodeau
NOES:DIRECTORS:None
ABSENT:DIRECTORS:Murphy
ABSTAIN:DIRECTORS:None
C~ ~.
Mary E. Agency Cl