Revolving loan fund health and delinquent borrower
Summary
One borrower that was behind is now current, the city is moving toward foreclosure on the GeneTax Solutions building, and a few newer loans are slightly late on first payments. Staff says it's a timing issue, not a crisis.
At a glance
- Total mentions
- 3
- Last 30 days
- 1
Discussed at 2 meetings in the last 60 days; most recently Oct 21, 2026.
Impact analysis
No direct tax impact; the fund's repayment health determines future lending capacity.
Future loan applicants benefit when the fund stays healthy and gets repaid.
Mentions & discussions (3)
Community Development Block Grant Revolving Loan Committee - Oct 21, 2026
All open loan accounts are now current after staff follow-up last month. The long-troubled Taxco building loan is moving through legal action — one of two borrowers has been served, with a judgment and redemption period ahead if no remedy happens.
Community Development Block Grant Revolving Loan Committee - Sep 22, 2026
One borrower that was behind is now current, the city is moving toward foreclosure on the GeneTax Solutions building, and a few newer loans are slightly late on first payments. Staff says it's a timing issue, not a crisis.
Community Development Block Grant Revolving Loan Committee - Mar 24, 2026
The fund has roughly $300,000 available and payments are generally coming in. Members asked that the available balance be shown in future reports so they know, when approving a loan, whether they're choosing between opportunities or spending from a healthy cushion.
We'll email you when it's on an upcoming agenda and when it's voted on, at most once a day.
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