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Title:
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ORDINANCE (EMERGENCY), submitted by Sheryl M. M. Long, City Manager, on 5/30/2024,. AUTHORIZING the City Manager to execute an Operations Agreement with Build Cincinnati Development Fund LLC and Cincinnati Housing Development Fund LLC; ESTABLISHING a new Cincinnati Access to Capital Fund for the purpose of receiving and disbursing resources to provide a loan loss reserve for the Cincinnati Access to Capital program; AUTHORIZING the Director of Finance to redirect and appropriate $3,000,000 from the Build Cincinnati Development Fund to the newly established Cincinnati Access to Capital Fund; and further DECLARING expenditures from the Build Cincinnati Development Fund and the Cincinnati Access to Capital Fund to be for a public purpose.
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