City Council

8. 25-55187 Recommendation to adopt resolution authorizing City Manager, or designee, to\nexecute all documents necessary to amend Contract No. 35694 with Grow America\nFund, Inc., of Cleveland, OH, a nonprofit organization, for the purpose of continuing\nvarious business loan programs administered by Grow America Fund, Inc., and to\npromote the City’s business assistance loan programs, to increase the annual\ncontract amount by $10,000, for a revised annual contract amount of $85,000, with\na 3 percent annual cost of living adjustment (COLA) increase for each year after the\nfirst extension year, for a total contract amount not to exceed $562,727, and extend\nthe term of the contract for three years, with the option to renew for two additional\none-year periods, at the discretion of the City Manager. (Citywide)\nLevine Act: Yes\nOffice or Department: Economic Development\nSuggested Action: Approve recommendation.