Wisconsin Department of Commerce Newsletter
July 2004
Semi-Annual RLF Reports For June 30, 2004

The Department of Commerce, in conjunction with Housing, has changed their semi-annual Community Development Block Grants-Economic Development Revolving Loan Fund (CDBG-ED RLF) reporting periods from June 30 and December 31 to March 31 and September 30. Therefore, you will not be receiving the usual and customary semi-annual RLF reports to fill out and file at this time.

The next reporting period, which will be the conversion period, will be for the nine-month period ending September 30, 2004, after which we will be on a six-month reporting basis again. Notes CDBG-ED RLF Grants Specialist Dan Ramsey, "This change is consistent with our Housing reports of which are used to prepare our Consolidated Plan for Housing and Urban Development (HUD). We hope this does not present an inconvenience for you. However, if you have questions please feel free to call me directly at 608/267-9383."

Annual RLF Workshop Held In April
Commerce conducted its annual RLF workshop April 22, 2004 for communities, administrators, and individuals new to the program. Attended by 48 administrators, the workshop, covered CDBG-ED, MVP, and RLF program policies and procedures. Next year's workshop will be held April 21, 2005. For more information please contact Dan Ramsey at 608/267-9383, e-mail dramsey@commerce.state.wi.us.

RLF TECHNICAL ASSISTANCE

RLF Policies and Procedures Manual update There are still many local communities that have RLF manuals that predate 1995, and some that predate 1990, that should be updated to comply with the current federal and state standards required to achieve the goals and objectives of the program. Notes RLF Grant Specialist Dan Ramsey, "We have a standard sample model RLF manual in an electronic format that can be used to quickly update your program. I will be sending letters to those communities that should update their manual to be in compliance with the program requirements. If you would like assistance, or have this document e-mailed to you, please call me at 608/267-9383."

RLF loan agreements Another document that is available to you is our sample RLF loan agreement. Many communities have asked for a sample loan agreement to be consistent with the program requirements and loan covenants. If you would like assistance, or have this document e-mailed to you, please call Dan Ramsey at 608/267-9383.

Consolidating RLF Programs During this past year several small RLF communities have either contracted with or consolidated their program into their county RLF program for the administration of the program. Commerce encourages smaller communities to consolidate their RLF into a single county wide RLF program, providing an effective tool for promoting regional economic growth and development. Consolidation ensures the maximum use of the resources and benefits in every community in the county, provides a larger capitalization of the RLF, and creates a more cost-effective approach as counties are equipped to administer and manage the RLF program.

Concludes RLF Grant Specialist Dan Ramsey, "If you'd like on-site technical assistance to develop your RLF program and maximize the benefit, update your RLF manual or loan agreement, please do not hesitate to call me at 608/267-9383.

-- Dan Ramsey

The newsletter is issued electronically every other month.

Please send comments or questions to Barbro McGinn, editor.

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