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File #: 20-852    Version: 1 Name:
Type: BRIEFING ITEMS Status: Agenda Ready
File created: 4/24/2020 In control: Economic Development Committee
On agenda: 5/4/2020 Final action:
Title: Incentive Agreement Extension, authorizing (i) extensions of up to six months, subject to approval of the Director of the Office of Economic Development ("Director"), for city-imposed contractual deadlines occurring on or after March 1, 2020 for active incentive agreements approved by the City Council prior to March 1, 2020; (ii) an additional extension of up to six months, subject to approval of the Director, for such active incentive agreements; and (iii) forbearance of loan payments and extension of loan maturity dates for a period of up to six months, subject to approval of the Director, due to the economic impact of COVID-19. [Courtney Pogue, Director, Office of Economic Development]
Attachments: 1. Memo
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Incentive Agreement Extension, authorizing (i) extensions of up to six months, subject to approval of the Director of the Office of Economic Development (“Director”), for city-imposed contractual deadlines occurring on or after March 1, 2020 for active incentive agreements approved by the City Council prior to March 1, 2020; (ii) an additional extension of up to six months, subject to approval of the Director, for such active incentive agreements; and (iii) forbearance of loan payments and extension of loan maturity dates for a period of up to six months, subject to approval of the Director, due to the economic impact of COVID-19.

[Courtney Pogue, Director, Office of Economic Development]