ORGANIZATION: Westside Development Corporation (WDC) - Finance Committee
POSTING LANGUAGE:
Discussion and possible action on a recommendation to the Board of Directors to modify the terms of a loan agreement with Juanita I. Romo, dba Ms. Chocolatier, in an amount up to $10,000.
SUMMARY:
Ms. Juanita Romo, dba Ms. Chocolatier, requests financing for the acquisition of new equipment and modest interior improvements for the operation of her business, which is currently located in the Gardens at San Juan, a live/work unit in a San Antonio Housing Authority (SAHA) property.
BACKGROUND INFORMATION:
Ms. Romo is a current tenant in a live/work unit at the Gardens of San Juan, a SAHA-owned property. For the business to successfully obtain a Certificate of Occupancy, it requires minor interior improvements, including the acquisition and installation of a grease trap.
The WDC is in a collaborative agreement with SAHA for the promotion and support of micro-business enterprises at the Gardens of San Juan. This request supports that effort.
ISSUE:
ALTERNATIVES:
FISCAL IMPACT:
RECOMMENDATION:
Staff recommendation is pending.
MRH - 150427 - Finance - Item 7 Memo