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Notice of Public Hearing Purpose: Public Hearing CDBG

NOTICE OF PUBLIC HEARING PURPOSE: PUBLIC HEARING CDBG COVID-19 Economic Development Working Capital Loan Program DATE: July 16, 2020 TIME: 2:00 PM LOCATION: VIRTUAL Via ZOOM Meetings Clark County intends to apply to the Ohio Development Services Agency, Office of Community Development, for funding under the Small Cities Community Development Block Grant (CDBG) Program, a federally funded program administered by the State of Ohio. The Development Services Agency is receiving supplemental funding through the Coronavirus Aid, Relief, and Economic Security (CARES) Act to mitigate economic impacts caused by COVID-19. Clark County's intent is to gauge interest and make application for funding under the CDBG COVID-19 Economic Development Working Capital Loan Program, providing the County meets applicable program requirements. The Public Hearing will be held July 15th, 2020 at 10:00 A.M. in the Board of Clark County Commissioners Chambers, 5th Floor, 50 East Columbia St., Springfield, Ohio, to provide citizens, business owners and local government leaders with pertinent information about the CDBG COVID-19 Economic Development Working Capital Loan Program, including an explanation of eligible businesses and costs as well as program requirements. This loan program is intended to create access to working capital in Clark County for COVID-19-impacted businesses. Loan projects must create and retain permanent, private-sector job opportunities, principally for low- and moderate-income persons. All CDBG projects funded by the Clark County Commissioners must be physically located within Clark County and outside the city limits of Springfield. Eligible activities include providing financial assistance to private, for-profit entities to carry out economic development projects directly and primarily related to retaining a business. Financing under this loan program may cover payroll costs and monthly expenses, including payments on rent, mortgage, utilities, inventory, and other recurring monthly expenses deemed integral to the business. Financing for working capital will be provided as a non-forgivable loan with a maximum 5-year term. Businesses must certify that working capital funds are not available from other public or private entities to qualify for assistance. The Clark County Economic Development Revolving Loan Fund Board will determine interest rates, loan terms, and security requirements. A loan project must create and/or retain at least one full-time, permanent job in the private sector. At least 51% of the full-time, permanent jobs created and/or retained through the loan must be taken by or made available to persons from low- and moderate-income households. The maximum loan per private for-profit entity will not exceed $25,000 Citizens and business owners are encouraged to attend this meeting on July 16th, 2020 to provide input on this program. The County seeks to hear if there are interested applicants for the program at this meeting. There must be a demonstrated need to make application to the State for these funds. Anyone requiring accommodations for a physical or hearing disability should contact Dirk Lackovich-Van Gorp by July 9th, 2020 to make arrangements for accommodation. Join Zoom Meeting Meeting ID: 865 4427 3791 Password: 444534 One tap mobile +13126266799,,86544273791#,,,,0#,,444534# US (Chicago) +19292056099,,86544273791#,,,,0#,,444534# US (New York) Find your local number: Questions concerning this CDBG program should be directed to: Dirk Lackovich-Van Gorp, Grants Coordinator, 3130 E. Main Street, Suite 1A, Springfield, Ohio 45505 - Telephone 937.521.2160 Springfield News Sun: July 3rd and July 10th 7-3,7-10/2020
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