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CITY OF OROVILLE COMMUNITY DEVELOPMENT/ECONOMIC LOAN ADVISORY COMMITTEE
MEETINGS:
The Community Development/Economic Loan Advisory meetings are held
on an "as needed basis". The meetings are held at Oroville City Hall,
1735 Montgomery Street, Oroville, CA. - Conference Room One, usually
at 5:15 p.m. to accommodate business owners.
PURPOSE:
All economic loan applications, meeting established HUD under writing
criteria as determined by City Staff and the designated loan underwriter,
shall be brought before the Economic Development Loan Advisory Committee
for review and recommendation. Loan proposals that the Economic
Development Loan Advisory Committee recommends denial on may be
returned to Community Development/Housing staff for further review
and consideration. Loan proposals that the Economic Development
Loan Advisory Committee recommends approval on shall be forwarded
to the City Council for final loan approval.
The Loan Advisory Committee shall also be responsible for the approval
of changes in loan structure that does not adversely impact the City
of Oroville's collateral position and changes in ownership that may
enhance the City of Oroville's loan security.
MEMBERSHIP:
The Committee will consist of two (2) members of the City Council
and three (3) or more members (including alternates) comprised of
representatives from the City of Oroville's Business Community.
TERMS OF APPOINTMENT:
Members of the Community Development/Economic Loan Advisory Committee
will serve a maximum of a two year term. The terms for the committee
representatives can be extended by a majority vote of the City Council.
APPLICATION ELIGIBILITY:
Citizens interested in serving on the Community Development/Economic
Loan Advisory Committee must live in the Oroville area, manage or
own a business within the City Limits. (city resident is not a
requirement).
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