Title
CONSIDERATION OF THE ADOPTION OF A SMALL BUSINESS LOAN PROGRAM FOR BUSINESSES ON THIRD AVENUE
RESOLUTION NO. 2017-080 OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA CREATING THE CHULA VISTA THIRD AVENUE SMALL BUSINESS REVOLVING LOAN FUND PROGRAM
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RECOMMENDED ACTION
Recommended Action
Council adopt the resolution.
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SUMMARY
The City of Chula Vista participated with the cities of San Diego and National City in the San Diego Regional Enterprise Zone (EZ) Program. The City of San Diego was the administrator for the program on behalf of all three cities. With the repeal and wind down of the program completed, the City of San Diego remitted a proportional share of the remaining program revenues to the partner agencies. On January 10, 2017 the City Council amended the Economic Development Department Budget by appropriating $200,000 from the EZ funds for business retention and attraction activities. Staff is recommending the establishment of the Third Avenue Small Business Loan Program utilizing these funds.
ENVIRONMENTAL REVIEW
Environmental Notice
Environmental Notice
The activity is not a "Project" as defined under Section 15378 of the California Environmental Quality Act State Guidelines; therefore, pursuant to State Guidelines Section 15060(c)(3) no environmental review is required.
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Environmental Determination
The Director of Development Services has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that the activity is not a "Project" as defined under Section 15378 of the State CEQA Guidelines because it will not result in a physical change in the environment; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines, the activity is not subject to CEQA. Thus, no environmental review is required.
BOARD/COMMISSION RECOMMENDATION
Not Applicable
DISCUSSION
The California Enterprise Zone program provided state sales and use tax credits, business exp...
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