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Brief History and Current Status of the County’s CDBG Program

Learn about the Calumet County CDBG Program, its history, and its transition to the CDBG CLOSE program. Discover the next steps in accessing CDBG CLOSE funds and creating a micro-loan program for small businesses.

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Brief History and Current Status of the County’s CDBG Program

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  1. Brief History and Current Status of the County’s CDBG Program Mary Kohrell Community Economic Development Director September 17, 2019

  2. CDBG Revolving Loan Fund (RLF) Program History • Initiated in 2000 with $850,000 loan to Holsum Dairy • No county general funds have been used for this program • Purpose: to support start-up and existing businesses that would create or retain jobs in the county and provide needed gap financing • Administered by Finance Dept and Planning Dept economic development staff • Loan requests reviewed by the Calumet County RLF Committee • From 2000 to 2015, 32 low-interest loans were administered for $5,667,200; 8 loans were written off and 3 loans being repaid • No new loans were initiated after 2015

  3. Transition to CDBG CLOSE • June 2018 - WI Department of Administration (DOA) notified local RLF programs the WI RLF program would close. • Administrative Rules for CDBG CLOSE effective 2-1-2019; have 2 years to use the funds • County required to return our loan balance ($1.33 million) and apply for it from WI DOA CDBG CLOSE program • Accounts receivables can be utilized locally; are defederalized

  4. Next Steps with CDBG CLOSE • Staff will apply for grants to access CLOSE funds: 1 planning grant and 2 others in the future, up to our maximum amount • County has hired Cedar Corporation to complete our loan application and develop the plan • In 2020, create a micro-loan program to support small businesses

  5. Questions?

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