Sec. 126.609. - Access to capital.

(a) Subject to availability of funds, the City has established the JSEB Access to Capital Program Trust Fund pursuant to Section 111.610 of the Code to assist JSEBs with obtaining access to capital (the "AC Program"). The JSEB Administrator, or a third-party contractor engaged through the JSEB Administrator ("Program Manager"), shall manage the distribution of said funds, in accordance with guidelines developed and approved by the JSEB Administrator in order to ensure proper administration and monitoring and to ensure continuity for the program. Such guidelines may be developed and approved by the JSEB administrator without further Council approval. All funds deposited into the Access to Capital Special Revenue Fund shall be the subject of a permanent and continuing appropriation when used for the purpose of loans to assist JSEBs with obtaining access to capital. In the event that the JSEB Administrator, or designee, serves as the Program Manager of the AC Program, the Mayor, or designee, is authorized to execute on behalf of the City all loan agreements and related documents authorized pursuant to the AC Program. In the event a third-party serves as the Program Manager, such third-party Program Manager shall act as an agent of the City and is authorized to execute on behalf of the City all loan agreements and related documents authorized pursuant to the AC Program. (b) The JSEB Administrator shall monitor and enforce the contract for disbursing funds and ensure that JSEBs are receiving funding assistance consistent with this Part. (c) The JSEB Administrator, on a quarterly basis, shall provide a report on the activity in the AC Program for the preceding three-month period. Such reports will be posted on the EBO Office website and the JSEB website. (d) The JSEB Administrator or the Program Manager shall host workshops no less than twice a year to inform potential JSEB participants about the AC Program. (e) The JSEB Administrator shall provide a quarterly activity report for the preceding three months to the JSEB Monitoring Committee for its use in complying with the reporting requirements pursuant to Section 126.607 herein. Such reports will be posted on the EBO Office website and the JSEB website. (Ord. 2021-117-E , § 5; Ord. 2025-148-E , § 3; Ord. 2025-411-E , § 2)