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RESOLUTION NO. 2021-� <br /> RESOLUTION DESIGNATING REPRESENTATIVE OF THE CITY OF DECATUR, ILLINOIS FOR <br /> NEGOTIATING TERMS AND CONDITIONS OF A"DEFEDERALIZATION"AGREEMENT BETWEEN <br /> THE CITY OF DECATUR AND THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION <br /> BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DECATUR, ILLINOIS: <br /> WHEREAS, "defederalization" of the city's current revolving loan fund will advance the economic <br /> development objectives of the city;and <br /> WHEREAS, the City of Decatur wishes to continue using its revolving loan fund to help qualified <br /> small and start-up businesses, promote local economic development, and do so in accordance with the <br /> general goals and guidelines of the U.S. Economic Development Administration;and <br /> WHEREAS, the Community Development Corporation of Decatur (CICD) has administered the <br /> revolving loan program for many years and is expected to continue doing so in the future;and <br /> WHEREAS, James Seaberg currently serves as the President and Executive Director of the <br /> Community Development Corporation of Decatur(CICD); <br /> NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DECATUR, ILLINOIS AS <br /> FOLLOWS: <br /> Section 1: For purposes of developing a suitable agreement between the City of Decatur and the <br /> U.S. Economic Development Administration for"defederalization"of the local revolving loan fund,James <br /> Seaberg is authorized and directed to represent the City of Decatur. <br /> Section 2: The City Manager is authorized and directed to execute those documents and make <br /> representations to and with the U.S. Economic Development Administration to fully implement this <br /> assignment. <br /> PRESENTED AND ADOPTED this 1st day of March, 2021. <br /> LIE MOORE WOLFE, MAYOR <br /> ATTEST: <br /> CI CLERK <br />