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return of the executed commitment letter, community development staff will begin <br />the loan closing process with the City Attorney. <br /> <br />Closing. The City Attorney will prepare documentation and coordinate the closing <br />with the Borrower or the Borrower's counsel. <br /> <br />Loan servicing. Community development staff will coordinate loan servicing activities. <br /> <br />Monitoring. Community development staff will monitor loans for compliance with <br />the accepted terms and conditions including job creation statistics and wage and <br />benefit levels. <br /> <br />o <br /> <br />Reports. Community development staff and finance staff are responsible for ensuring <br />that all required reports 'are filed in a timely manner. <br /> <br />Records. Computer files and conventional paper files will be maintained for the <br />purpose of documenting, tracking, and monitoring program and project activities. <br />Program records will be maintained primarily by the Community Development <br />Division and financial records will be maintained primarily by the Finance Division. <br />Where applicable, the following records will be maintained: <br /> <br />a. Program records. The following program information will be maintained in the <br /> program project file, including but not limited to: <br /> <br />i. Environmental report; <br />ii. Eligibility determination records as set forth in Section VIII, Subsection E <br /> (1) (a-n); <br />iii. Property inspection report; <br />iv. Progress reports; <br />v. EDA Resolutions; <br />vi. Correspondence; <br />vii. Loan documents; and <br />viii. Executed loan agreement. <br /> <br />b. Financial records. The following financial information will be maintained in the <br /> financial project file, including but not limited to: <br /> <br />i. Copy of the executed loan agreement; <br />ii. Disbursement data; <br />iii. Progress reports; <br /> <br /> <br />