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From YouTube: Planning & Economic Development
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855-925-2801
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code
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B
When
you
would
like
to
speak,
go
ahead
and
unmute
your
microphone,
please
remember
to
meet
to
mute
again
after
speaking,
council
and
staff.
As
I
call
your
name,
please
say
a
quick
hello,
councilwoman,
kilgore,
hello,
councilwoman
turner
good
afternoon,
okay,
community
and
economic
development,
director
sam
powers,
hi.
E
B
Thank
you,
okay.
So
the
first
item
on
the
agenda
is
the
approval
of
the
minutes.
May
I
get
a
motion
to
approve
the
january
minutes,
I'll
move
I'll.
Second,
thank
you
and
now
we'll
go
through
the
roll
call,
though
we'll
go
through
a
roll
call
vote
councilwoman
kilgore
here,
oh
type,.
D
B
Do
you
want
to
say
aye
aye
thanks
councilwoman
turner,
aye,
okay,
and
I
also
so
the
minutes
have
been
approved.
So
the
next
item
on
the
agenda
is
an
update
on
the
mountain
community
capital
fund.
So
rosanna
mulcahy
will
give
us
an
update
on
this
fund.
E
Thank
you,
sam.
Do
you
want
to
go
first
at
the
squad.
D
I
think
it's
fine
that
you
would
go
ahead
rosanna.
I
will
say:
we've
been
working
on
this
initiative
for
a
couple
of
years
now
and
it's
starting
to
gain
a
lot
of
traction,
and
so
we're
excited
to
be
here
today,
and
I
want
to
thank
rosanna
and
all
of
our
partners,
the
other
institutions
that
are
helping
us
as
we
as
we
move
forward
in
this
program.
So
rosanna,
it's
all
yours.
E
A
A
E
Thank
you.
So
when
I
came
to
work
for
the
city
in
in
march
2018,
I
knew
about
this
fund
because
the
previous
organization
that
I
have
been
working
for
carolina,
small
business
or
the
western
women
business
center
was
part
of
was
one
of
the
lenders.
So
I
had
been
hearing
for
several
years
about
the
mountain
community
capital
fund.
So
jenna
will
you
go
ahead
to
the
next
slide?
Thank
you.
E
So
it
took
a
while
to
launch
because
of
of
the
of
all
the
work
that
had
to
be
put
together
and
stuff
like
that,
so
we
I
wanted
to
give
a
little
background,
because
I
know
that
miss
turner
and
ms
kilgore
were
not
present
when
we
started
the
fund,
so
the
capital
community
capital
fund
is
a
guarantee
fund
for
small
business
loans.
E
It
is
a
collaboration
between
the
city
and
the
county,
the
city
and
the
county.
Each
one
of
us
set
aside
certain
amount
of
money,
and
then
our
lenders
are
carolina.
Small
business
development
fund,
mountain
biz
works
and
self-help
credit
union
a
little
note
self-help.
Credit
union
also
holds
our
funds
on
an
in
a
note
with
zero
interest.
To
be
paid,
if
any
of
the
loans
default,
this
loan
phone
is
especially
intended
for
borrower
borrowers
who
do
not
have
collateral
so
once
again,
oftentimes
people
think
that
this
is
a
loan
fund.
E
This
is
not
a
loan
fund.
This
is
a
collateral
fund.
So
if
you
go
to
mountain
bizworks,
carolina,
small
business
or
self-help
and
you're
looking
for
a
loan
for
your
business
and
you
lack
the
collateral
to
get
that
loan.
This
is
where
this
fund
would
come
in
it's
available
to
entrepreneurs
and
small
businesses
in
buncombe
county
in
asheville
and
buncombe
county,
and
our
main
target
is
our
entrepreneurs
of
and
business
owners
of
color
or
our
bike
park
business
owners.
It's
intended
to
be
used
for
loans
between
5
000
and
70
000.
E
Although
larger
loans
could
be
done,
the
program
launched
on
tuesday
august
27
2019
and
if
you
were
to
click
on
that
link,
it
would
take
you
directly
to
the
the
page
for
the
that
talks
about
our
partners
and
about
everything
else
that
we've
done
with
this
program.
E
Jenna,
please
so
so
far
here
the
loans
that
have
been
we
have
been
able
to
make
or
are
getting
ready
to
make
possible
through
this
fund.
All
of
them
have
been
done
through
mountain
biz
works.
I
am
very
grateful
for
mountain
biz
works,
taking
the
the
lead
on
this.
So
basically,
we've
done
eight
loans.
E
One
of
the
loans
was
refinanced
and
it
became
low
number
six,
as
you
can
see,
because
of
privacy
issues.
We
we
don't
ask
for
specifics
on
the
loans
like
we
don't
ask
for
people's
business
name
or
names
or
social
security
number
anything
like
that.
We
use.
This
is
the
information
that
we
collect
and
we
do
want
to
know
if
they're
paying
their
loan
on
time
and
and
what's
happening
if
they're
not
paying
the
loan
on
time.
So
far,
everyone
has
been
paying
their
loan
on
time.
E
Nothing
nothing
out
of
the
ordinary
has
been
reported,
which
we're
very
excited
about
with
that
said
with
my
me
speaking
with
christopher
murray,
who
is
the
the
person
the
underwriter
director
for
mountain
biz
works?
He
thinks
that
if
they
continue
this
trend,
the
the
funds
will
be
used
by
may
so
we
would
have
made
enough
enough
loans
that
all
the
funds,
the
collateral
funds,
would
be
used
by.
May.
E
That
means
that
note
that
we've
lost
the
money,
but
we're
done
doing
using
this
fund
until
some
loans
get
paid
down
and
jenna
could
I
have
the
the
next
slide
and
then
I
wanted
to
do
something
special.
I
think
this
is
such
such
a
great
thing,
especially
for
our
bi-pac
business
owners,
who
have
often
confronted
the
realities
of
not
having
the
the
wealth.
You
know
to
create
wealth.
E
So
we
wanted
to
present
mr
fletcher
and
tell
a
little
bit
about
his
story,
and
he
is
here
with
us
with
justin
thompson
from
mountain
biz
works
and
he
was
asking
me:
what
are
they
going
to
ask
me?
You
know
I
need
to
know-
and
I
said
I
don't
know
what
they're
gonna
ask
you,
but
that's
why
I'm
gonna
be
there
and
I'm
sure
they're,
not
gonna.
E
Ask
you
hard
questions,
but
I
just
really
wanted
you
to
hear
from
someone
who
who
has
been
able
to
grow
their
business
due
to
this
fund
so
that
you
can
see
that
this
fund
is
really
important
to
our
community
and
it's
it's
it's
vital
and
it's
critical
that
we
continue
to
support
and
fund
this
work.
So,
mr
fletcher,
would
you
like
to
say
a
few
words
I.
I
can't
see
you
for
some
reason.
A
C
Yes,
I'm
grateful
for
what
they've
done
for
me.
I
had
a
another
truck
before
this
when
I
still
got
two
trucks
and
I
had
a
lot
of
repairs
that
needed
to
be
done
to
it.
So
I
asked
them,
I
said:
look
to
grow
my
business.
I'm
gonna
need
a
second
truck
in
order
to
if
this
one's
not
running,
I
can
just
get
in
the
other
truck
and
and
drive
and
they
were
able
to
help
me
get
a
second
truck.
B
Mr
fletcher,
this
is
gwen
whistler
and
thank
you
so
much
for
coming
this
is
you
know,
good
information
for
us?
How
did
you
find
out
about
the
program
and
would
you
have
any
suggestions
as
to
how
we
can
get
the
word
out
or
did
you
feel
comfortable?
You
know,
how
did
you
know
about
it
and
do
you
have
any
other
any
suggestions
that
could
make
the
process
better.
C
When
I
first
found
out
about
the
program
I
had
went
to
pnc
to
my
bank
and
the
bank
manager,
there
referred
me
here
to
mountain
biz
works
and
when
she
referred
me
to
mountain
bizworks,
they
helped
me
to
get
my
first
truck
when
I
was
starting
to
get
in
business
and
then
once
I
got
in
business
going
with
them
michael
lane,
which
is
the
guy
that
I
deal
with
here
now
introduced
me
to
this
program,
which
helped
me
get
the
second
truck.
C
B
Okay,
did
you
did
you
find
the
process
easy
or
was
it
difficult
I
mean,
would,
would
you
have
any
suggestions
to
make
it
easier.
C
They
were
really
helpful.
I
mean
it
was.
It
was
really
easy.
I
did
my
business
plan
with
him.
I
wrote
up
a
business
plan,
they
took
my
business
plan
and
then
they've.
They
pretty
much
helped
me
walk
through
everything
that
I
need
and
they've
got
people
here.
Also
that
you
know
will
help
you
through
other
stuff.
They
got
classes
that
you
can
take
to
further
your
education
on
the
business
and
loans
and
everything
like
that.
F
C
G
But
I'd
like
to
know
this
is
calvin
right.
Yes,
okay
calvin,
do
you
have
any
other
employees
at
this
time.
C
I
don't,
I
have
a
part-time
employee,
okay,
but
I
don't
have
another
employee
at
this
time.
I
I
really
bought
the
second
truck
to
in
case
you
know.
Yes,
that
truck
was
down.
I
could
keep
working,
but
I
do
have
a
part-time
employee
that
works
at
night.
Sometimes,
okay,
now
full-time
okay,.
G
B
E
E
I
don't
like
using
the
word
minority,
but
mwbe
minority
women,
business
enterprises
and
I'll,
be
I'm
going
to
be
working
with
mr
fletcher
to
see
if
we
can
get
him
registered
as
a
vendor
for
the
city
of
asheville
and
certify
as
an
mw
and
wbe,
so
that
we
can
help
him
or
assist
them
in
growing
his
opportunities,
and
so
that
more
people
are
aware
of
his
services.
E
B
This
section
so
staff
do
we
have
we'll
go
ahead
and
take
public
comment.
Do
we
have
anybody?
Any
live
calls
for
public
comment,
jenna.
B
Okay,
so
with
that
I
will
close
public
comment
and
then
so
roseanne,
I
think
you're
up
next
for
the
mountain
biz
works,
I'm
sorry
mountain
business,
sorry,
mountain
business,
equity
initiative.
E
Yes,
thank
you.
Let
me
see
again
if
I
can
share
this
time
again.
I
I
can't
it's
not
allowing
me
to
share.
Will
you
share
that
that
presentation
with
me
with
the
group
I
mean.
E
Thank
you.
So
the
mountain
business
equity
initiative
was
a
program
that
was
created
and
led
by
the
added
project.
Ms
cortina
caldwell.
We
can
go
to
the
next
slide,
please
jenna,
so
a
little
timeline
again
for
for
those
who
who
were
not
here
at
the
beginning
of
at
the
end
of
2018,
we
received
the
results
from
a
disparity
study.
E
The
results
showed
that
there
were
disparities,
especially
for
our
african-american
community.
So
one
of
the
things
that
the
abi
office
did
was
we
decided
to
engage
the
black
business
community,
so
I
I
put
out
a
a
contract,
cortina
coldwell,
that
was
the
person
selected
to
co-facilitate
the
meetings
with
me.
The
idea
was
to
meet
with
our
black
business
owners
in
in
the
area
and
get
to
know
directly
from
them.
How
could
the
city
best
serve
them
when
it
came
to
contracting
with
the
city?
E
What
were
the
their
barriers
to
contracting
with
the
city?
How
could
we
we
looked
at
policy
and
reviewed
the
way
we
did
bids
and
stuff
like
that
and
little
by
little
I
believe
we
started
it
with.
It
was
going
to
be
a
12-week
engagement
where
we
met
for
about
an
hour
and
a
half
to
two
hours
every
week
during
lunch
time,
and
I
believe
it
went
up
to
16
weeks
total
that
we
met
from
that
engagement.
E
A
few
things
were
obvious
one
that
black
business
owners
wanted
to
be
led
by
other
black
teachers,
professors
leaders,
so
that
was
one
of
the
the
biggest
things
that
came
out.
Another
one
was
the
lack
of
co-working
spaces
spaces
where
black
business
owners
could
go
into
have
a
business
meeting
or
going
to
and
have
an
and
be
part
of
a
class
and
and
feel
welcome,
so
based
on
some
of
the
feedback.
E
The
very
first
thing
that
we
decided
to
do
was
see
how
we
could
make
grow
the
capacity
of
the
businesses.
To
me,
I
felt
that
we
needed
to
grow
the
capacity
of
the
businesses
based
on
the
feedback
that
we
had
received.
E
So
I
put
out
a
request
for
proposal
in
september
and
we
were
looking
for
an
black
lid
or
bipoc
led
group
of
business
owners
who
could
who
would
be
willing
to
teach
other
business
owners
how
to
grow
their
business
and
grow
their
capacity
and
and
provide
them
the
leadership
that
they,
the
community,
felt
they
needed.
E
So
out
of
the
proposals,
we
got
four
proposals.
Two
of
them
were
disqualified
because
they
were
from
charlotte
and
we
I
I
was
very
specific.
I
wanted
the
the
people
who
were
going
to
provide
the
service
to
know
the
community
to
be
involved
with
the
community.
E
I
was
it
was
a
very
nice
surprise.
When
the
ade
project
was
selected,
we
went,
we
went
through
a
selection
process.
There
were
six
of
us
who
sat
in
a
room
and
discussed
the
two
proposals
and
the
other
project
was
selected.
I
do
want
to
say
that
when
the
proposal
was
put
together,
there
were
six
business
owners
that
were
part
of
the
initiative
and
they
decided
to
name
themselves
the
mountain
business
equity
initiative
and
that's
why
you
see
a
difference
between
the
contract
holder
and
the
name
of
the
program
janna.
E
Please
thank
you
so
so
the
other
project
worked
really
hard
to
meet
our
the
requests
that
we
had
set
out
on
the
proposal.
We
wanted
it
to
be
a
holistic
program
that
would
reach
our
community,
especially
the
communities
that
were
facing
disparity,
especially
in
our
contracting.
E
We
wanted
to
be
high
quality,
technical
assistance,
business,
technical
assistance.
We
also
wanted
to
build
a
pipeline
of
entrepreneurial
entrepreneurs
and
business
owners
contractors,
vendors
that
could
work
with
the
city
of
asheville
and
gain
contracts
and
bid
opportunities,
since
that
is
what
the
disparity
study
identified,
that
we
did
not
have
without.
E
We
were
not
utilizing
the
businesses,
so
we
wanted
to
get
the
businesses
ready
to
be
utilized,
and
then
I
did
I
did
say
we
would
like
75
percent
of
the
participants
to
be
able
to
provide
a
service
or
product
that
the
city
could
contract
with,
and
I
didn't
do
it
a
hundred
percent,
because
I
also
felt
that
there
may
be
other
businesses
out
there
owned
by
our
bipod
community,
who
could
benefit
from
this
program
and
and
the
main
main
idea
of
the
program
was
to
help
the
businesses
grow
and
create
jobs
jenna.
E
Would
you
please?
We
also
wanted
the
program
to
provide
assistance
in
learning
the
basic,
the
different
parts
of
owning
a
business
marketing,
a
business?
How
do
you
plan
for
your
cash
flow?
How
do
you
manage
your
operations?
We
wanted
every
detail,
so
the
business
could
feel
supported.
E
We
wanted
to
host
most
monthly
workshops,
one-on-one
training
and,
of
course
we
wanted
the
program
to
be
flexible.
Jenna
go
ahead.
E
And,
of
course,
kovit
hit
right
when
we
were
in
the
middle
of
do
of
of
working
on
mbei
out
of
the
we
were.
We
had
planned
to
have
two
cohorts
because
we
had
to
we
because
nbi
had
to
pivot.
We
ended
up
hosting
one
cohort,
but
it
was
a
larger
cohort
because,
instead
of
being
in
person,
we
were
hosting
it
online.
E
The
one
thing
that
anyone
who
is
providing
any
type
of
technic
business
technical
assistance
teaching
training
has
realized
through
now
that
we
are
doing
things
online
is
that
we
don't
know
where
the
businesses
are
coming
from
they're,
seeing
the
opportunity
and
they're
registering.
E
So
during
the
first
cohort
there
were
23
students,
17
were
from
buncombe
county.
One
of
them
was
from
polk
county
and
two
of
them
were
from
different
counties,
but
since
then
they
have
relocated
to
asheville.
E
I
do
want
to
say
that,
not
only
because
of
mbei
that
relocated
to
asheville,
also
because
we
passed
the
resolution
for
reparations,
which
I
I
get
a
lot
of
requests
for
information
on.
So
if
I
don't-
I
don't
know
if
I
mentioned
this,
but
the
the
disparity
study
covered
10
counties.
E
A
disparity
study
basically
basically
told
us
that
our
market
region
was
10
counties
in
western
north
carolina,
and
we
wanted
to
include
all
the
businesses
in
in
as
many
businesses
in
that
ten
county
region,
because
that
is
where
the
money
gets
exchanged.
That's
where
people
go
to
get
jobs,
contracting
opportunities
and
that's
where
they
come
from
to
work
for
the
city.
So
that's
how
that
relevant
market
area
was
formed
and
that's
what
you
see
that
is
not
just
asheville
and
or
just
buncombe
county
next
slide.
E
So
there
were
23
people
who
entered
the
cohort
15
of
them
graduated.
E
I
do
want
to
say
that
40
of
the
cohort
that
graduated
were
black
males
that
that
to
us
was
was
a
as
a
really
was
a
really
good
number
because
of
the.
Unfortunately,
we
know
that
black
males
have
other
responsibilities
and
things,
and
they
often
cannot
complete
like
this
capacity
building
training.
For
example,
29,
I'm
just
going
to
touch
on
a
few
important
things
like
384
hours
of
mentoring
and
coaching
went
to
the
businesses.
E
The
mbi
was
also
able
to
fundraise,
besides
the
contract,
that
we
had
with
them
about
eleven
thousand
dollars
to
continue
to
to
provide
their
work
city
staff,
the
it
department
and
in
my
office
we
were
able
to
provide
support.
I
provided
a
training
on
how
to
contract
with
the
city
what
we
were
looking
for
and
stuff
like
that.
I
know
that
it
provided
a
very
big
training
on
it.
E
E
It
was
a
successful
partnership.
We
would
have
liked
to
see
a
perhaps
a
little
bit
more
one-on-one
with
some
of
the
businesses,
but
I
know
that
that's
that
was
really
difficult
because
of
covid,
and
we
also
would
have
liked
a
little
bit
more
businesses
that
could
actually
contract
with
the
city.
And
although
it
says
that
86
of
the
businesses
express
interest
in
contracting
with
the
city,
I
believe,
like
two
or
three
out
of
the
businesses
were
provided
a
service
that
the
city
would
actually
contract
jenna.
E
And
that
is
a
presentation
for
now
on
the
mountain
business,
equity
initiative
and
yeah,
I'm
open
for
questions.
F
I
have
a
question:
go
ahead,
go
ahead,
go
ahead!
Thank
you
and
great
presentation.
I'm
excited
to
hear
all
that.
I
appreciate
the
extra
information
and
background
there
as
some
of
it
started
and
it's
a
lot
of
great
work
and
success.
So
thank
you.
I
would
be
curious
a
couple
things
if
we
are
doing
any
kind
of
like
exit
summary,
how
many
people
have
been
impacted
or
if
there's
any
kind
of
conditions
around,
do
the
loans
or
the
collateralized
part.
Does
it
go
forever?
Do
they
refinance
out?
Is
there
a
schedule?
E
How
do
we
help
okay,
so
the
first,
maybe
maybe
I'm
confused?
The
first
presentation
was
about
the
mountain
community
capital
fund,
which
is
the
collateral
fund,
and
then
this
presentation
was
about
a
contract
that
we
had
with
the
mountain
business
with
at
the
other
project,
which
did
the
work
under
the
mountain
business
equity
initiative.
E
Unfortunately,
during
negotiations
we
we
are,
we
will
not
be
renewing
this
contract
with
them
with
at
the
ade
project.
I
quote,
as
you
know,
as
you
know,
this
is
what
cortina
wrote
to
us.
As
you
know,
it
has
been
a
rocky
road
since
we
started
going
down
this
path
in
2019
and
in
light
of
all
the
recent
back
and
forth
struggles
to
make
sure
the
contract
is
clear
and
represents
the
work
being
done.
E
I
have
realized
that
I
am
no
longer
able
to
sustain
the
amount
of
energy
and
effort
required
to
move
this
contract
forward
with
the
city.
Consider
this
contract
terminated
as
of
right
now,
so
the
work
with
the
bantum
business
equity
initiative
has
ended.
That's
why
we're
doing
a
a
presentation
as
to
what
was
accomplished
during
the
time
we
have
that
contract.
E
We
know
that
the
need
we
still
have
that
need
to
meet
and
we
are
working
diligently
to
try
to
come
up
with
a
different
alternative.
We
are
looking
at
perhaps
partnering
with,
for
example,
mountain
biz
works,
mountain
biz
works.
I
want.
Let
me
go
back
a
little
when
we
started
the
mountain.
E
What
became
the
mountain
business
equity
initiative?
There
were
no
programs
in
the
area
that
specialized
in
just
bypack
business
owners.
So
you
could
go
to
mountain
bizworks.
You
could
go
to
self-help.
Sorry,
you
could
go
to
the
western
women
business
center.
You
could
go
to
school,
encounter
countless
other
places,
but
all
of
them
were
black
lead.
E
I'm
sorry,
white
lead,
white,
owned
white,
you
know,
and
just
everybody
was
was
was
white
almost
and
since
then
montobis
works
has
started,
started
the
catalyst
program
who
is
basically
similar
to
what
moncton
business
equity
initiative
is
doing,
except
with
a
little
bit
more
to
give
to
the
community
they're
they
they're
giving
grants
they're
giving
loans
at
a
very
good
rate.
E
So
there
are
other
alternatives
that
we
are
reviewing
as
of
now
to
move
forward
and
continue
this
work
of
having
our
businesses
ready
and
able
to
contract
with
the
city.
D
B
D
Job
well,
we'll
go
back.
I
want
to
make
sure
we
understand
your
question
and
councilwoman
kilgore.
I
think
you
may
have
had
a
question
as
well,
but
yeah
as
as
rosanna
mentioned,
I
I
feel
like
we
had
under
the
circumstances
with
the
mbei
and
with
cortina
a
lot
of
successes
and,
unfortunately,
the
timing
and
the
challenges
that
came
forward
with
the
pandemic,
especially
creating
some
some
changes
and
and
how
the
consultant
needed
to
pivot
and
some
changes
on
their
team.
D
I
think,
as
cortina
had
noted
in
her
her
letter
to
us,
it
was
just
it's
going
to
be
a
challenge
to
continue
and
I'll
note
two
other
things
right,
quick.
We
also
because
this
is
quite
honestly,
a
fairly
expensive
consulting
contract
with
the
city.
D
We
wanted
to
make
sure
that
our
internal
communications
were
clear
and
we
wanted
to
make
sure
that
we
both
understood
the
city
and
the
consultant
what
our
rules
and
responsibilities
would
be
with
regard
to
the
intellectual
property,
that's
generated
during
the
program,
and
we
were
struggling
just
a
little
bit
with
that,
and
so
I
think
there
was.
You
know
the
the
ultimate
decision
by
the
contractor
to
not
move
forward.
D
Those
both
played
a
little
bit
of
a
role
but,
as
rosanna
said,
with
the
programs
that
were
not
in
existence
that
are
now
at
some
of
our
non-profits,
with
the
the
change
in
leadership
at
ab
tech
and
a
new
vice
president
of
economic
development
and
workforce
development
at
ab
tech,
I
think
we
have
options,
but
the
clear
goal,
the
finish
line
and
all
of
this
for
us
is
to
make
sure
that
we're
doing
everything
we
can
to
get
folks
who
will
ultimately
be
ready,
willing
and
able
and
qualified
to
respond
to
city
requests
and
city
bids
and
contracting.
D
And
so
that's
something
else.
You
know
there
are
other
programs
that
can
help
folks
if
they
want
to
go
into
cosmetology
or
things
like
that.
We
don't
have
a
whole
lot
of
bids
and
contracts
for
things
like
cosmetology,
so
we
are
looking
for
specifically
getting
folks
who
want
to
be
able
to
do
business
with
the
city
and
that's
our
goal.
D
F
Question
then
either
so
I
just
wanted
to
tie
the
two
and
that
explanation
helped
a
lot
sam.
I
wasn't
putting
the
connection
together
too,
around
city
pro
city
projects
and
city
contracts,
but
I
would
love
to
know
about
that
first
fund.
If
my
questions
were
just
like,
is
there
a
known
cycle
at
the
onset
that
it
turns
out
they
refinance,
or
is
there
a
schedule
of
when
these
collateral
this
the
collateral
becomes
available
again.
D
Rosanna,
can
you
tackle
that
one?
I
think
it
depends
on.
You
know
the
we
had
the
sheet
of
when
the
loans
are
being
fulfilled
by
the
the
funding
agencies,
and
so
we
do
know
that
we
do
have
that
information
sage.
I
don't
know
that
it's
on
the
sheet.
It's
certainly
information.
D
We
can
get
to
you
and
you
know
that's
the
good
news
is
if
we,
if
we
get
to
where
the
fund
is
fully
collateralized,
that's
a
challenge,
but
it's
a
challenge
worth
having,
and
I
think
council
person,
kilgore
and
council
person
turner
one
of
the
things
we
learned
when
we
were
researching
this
program,
which
is
very
successful
in
the
charlotte
area,
is
the
having
to
call
in
the
collateral
or
or
the
the
loan
guarantee,
rather
having
to
call
in
the
loan
guarantee.
D
If
a
loan
defaults
has
been
very,
very
small
in
charlotte,
the
the
default
rate
has
been
less
than
10,
so
we
feel
very
confident
and-
and
council,
I
think,
did
a
lot
of
due
diligence
when
we
set
up
the
the
loan
guarantee
fund
that
it
would.
You
know
the
likelihood
of
our
investment
is
is
very
strong.
D
Would
we
want
to
consider
an
additional
investment?
You
know
that
it's
it's
a
challenging
time.
We
might
well
want
to
do
that,
but
it's
going
to
have
to,
I
think,
reside
with
all
of
the
other
council
goals
and
priorities
to
figure
out.
You
know
where
that
would
would
land
on
a
funding
continuum,
but
we
we
do
have
a
lot
of
success
to
I
think,
to
build
on
with
the
program.
E
Absolutely
the
plan
was
meant
to
terminate
on
february
1st
2020.,
like
I
said
it
took
a
long
time
it
took
a
while
for
it
to
be
put
together,
because
we
didn't
actually
launch
it
until
2019,
but
it
it
was
going
to
expire
february,
1st
2020,
so
we
decided
to
expand
it
for
for
well.
It
was
decided
to
expand
it.
I
believe
sam
presented
it
expanded,
which,
which
makes
it
a
maturity
date
of
february
first
2025.
E
so
to
to
say
to
ms
turner's
question:
I'm
I'm
I'm
not
a
politician.
I
don't
know
how
to
I
don't
say
things,
but
I
I
absolutely
feel
that
the
the
our
entrepreneurs,
our
backpack
entrepreneurs
would
definitely
benefit
from
this.
E
This
fund,
especially
given
that
throughout
kovid
they
have
not
benefited
from
ppe
or
or
any
any
of
those
other
things,
and
this
is
a
way
for
us
to
continue
to
support
them
and
mountain
biz
works
has
provided
us
that
that
that
guidance
and
and
continued
support
and
lending
when
the
other
institutions
have
stopped
lending
to
businesses,
because
a
coveted
mountain
bus
works
has
well,
they
haven't
stopped
landing
they're
doing
like
ppp
loans
and
loans.
E
Like
that
mountain
bus
works,
has
continued
to
to
provide
that
initiative
and
support
the
the
community
that
we
work
with
and
and
continue
to
create
that
impact.
F
G
Well,
pretty
much
some
of
the
same
questions
they
were.
You
know
I
was
going
to
ask,
but
what
I
would
like
to
do
is
I
know.
Rosanna,
probably
she's
not
really
commit
familiar
with
the
financing
terms,
but
do
they
have
were
they
had
programs
that
were
more
or
less
custom
made
to
a
client's
situation
as
far
as
the
loans,
or
did
you
pretty
much
run
them
on
a
regular
schedule
as
being
due.
E
So
the
the
the
loans
are
managed,
as
any
other
load
amount
on
this
work
to
manage.
Okay,
so
I
do
know,
I
used
to
work
for
mountain
bus
works
and
I
was
an
underwriter,
so
I
understand
how
the
underwriting
system
works
there
and
all
those
things
so
they're
very
flexible.
They
do
work
with
it
with
the
with
the
clients.
I
know
that
if
the
client
is
having
a
hard
time
paying
for
the
loan,
they
will
do
things
like.
E
Let's
not
do
payments
for
three
months
or
then
let's
do
interest
only
for
the
next
six
months
until
you're
able
to
catch
up.
So
I
I
know
that
mountain
bus
works
does
work
with
them
when
needed
and
as
needed.
G
Now
do
they
also
require
maybe
the
financial
records,
while
these
loans
are
in
place
like
say,
for
instance,
if
a
company
has
this
loan
and
make
do
they
have
to
produce
their
records
every
you
know
quarter
or
something
to
just
see.
You
know
how
well
they're
doing
managing
the
money
and
and
things
like
that,
and
how
does
that
affect
them
all.
E
Okay,
so
I
I
do
want
to
say
that
when
I
work
there,
that's
that
was
a
big
issue,
because
that
would
require
more
staff,
and
we
know
that
often
like
non-profits,
you
know,
have
capacity
just
like
many
other
places,
and
that
was
a
something
that
they
always
talked
about
growing
the
capacity
at
this
moment.
E
I
cannot
speak
of
their
capacity
when
it
comes
to
that,
but
what
I
can
tell
you
is
that
if
they
review
the
the
the
the
the
financial
statements
of
someone
who
has
a
loan
and,
for
example,
they're
not
doing
that
good
month
works
is
not
going
to
recall
that
loan,
because
what
what
are
they
going
to
recall?
E
You
know
if
the
person
is
making
payments
and
making
an
effort
to
to
make
payments,
and
if
they
are
speaking
with
the
underwriter
and
staying
engaged,
quantum
business
will
continue
to
work
with
them
if
they
disengage
or
something
like
that.
That's
when
you
would
see
like
collateral
being
called
in
and
stuff
like
that,
and
there
are
guidelines
that
we
do
that.
We
did
stipulate
on
our
on
the
mountain
community
capital
fund,
for
example.
E
They
have
to
get
all
the
collateral
like
if
there's
any
business
equipment
or
business
property
that
would
be
that
would
have
to
be
sold
out.
First
cleared
off,
you
know,
and
then
we
would
that
our
fund
would
cover
the
difference
between
whatever
they
they
were
able
to
get
for
that
collateral
to
to
what's
owed.
So
there
are
things
that
that
mitigate
the
risk
for
this
fund
to
to
just
go
in
the
air.
G
But
I
was,
I
was
more
or
less
wondering
say:
for
instance,
you
did
a
certain
loan
to
a
certain
company
and
their
profits
were
and
that's
the
reason
I
was
asking
about
their
profit
and
loss
statements
and
things
like
that
and
they
were
actually
doing
rather
well
and
that's.
The
reason
I
was
wondering
was
anything
tied
to
the
amount
of
income
they
were
actually
at
available
income
they
had
available.
As
far
as
could
be
tied
to
the
loan
repayment
of
the
loan.
You
didn't.
E
G
E
No,
no,
we,
I
know
that
it,
it's
always
advised
you
know,
hey,
let's
do
a
loan
for
this
term.
It's
is
that
the
the
term,
the
amount
is
less,
that
you
have
to
pay
and
pay
extra.
Whenever
you
can
so
and-
and
I
can
tell
you
that
mountain
bis
works
has
a
very
just
like
just
like
the
capital
fund
in
charlotte-
has
a
very
low
rate
of
down
payment.
E
The
default
mountain
bus
works
also
itself
has
a
very
small
small
default
rate
because
it's,
I
believe
the
community
knows
the
organization
and
you
start
to
build
a
relationship
and
that's
what
maintains
the
the
the
business
owners
accountable
and
continue
to
make
payments.
I'm
not
going
to
say
that
it
doesn't
happen
where
people
just
disappear
and
don't
pay
anymore,
but
that's
very
unlikely.
B
Okay,
council
members,
before
I
open
up
to
public
comments,
you
have
any
other
questions
on
either
topic
sage.
We
won't.
We
won't
hold
you
to
the
agenda
all
right,
so
we're
going
to
open
this
up
to
public
comment
staff.
Do
we
have
any
folks
on
the
line
for
public
comment
related
to
the
mountain
business
equity
initiative,.
A
B
Do
not
okay,
so
I
will
close
public
comment
on
this
and
now
I
will
open
it
up
to
general
public
comment
staff.
Do
we
jenna?
Do
we
have
any
general
public
commenters
out
there.
B
That's
just
unfortunate,
but
rosanna
you
did
a
fabulous
job,
and
so
these
people
missed
out
by
not
by
not
listening
in
this
is
really
great
information.
You
know
I
do
think
to
to
sandra
and
sage's
suggestion,
maybe
like
once
a
year
if
we
could
get
a
schedule
kind
of
showing
here's
what
the
available
fund
is.
Here's
you
know
the
schedule
of
when
the
collateral
will
get
freed
up.
So
you
know
a
little
bit
like
when
we
do
the
housing
trust
fund.
B
B
Okay
well
see
thanks
rosanna
and
I
I
know
that
they
will
tune
in
next
time.
They
see
you
on
the
agenda.
So
with
that,
I
will
go
ahead
and
adjourn
the
meeting.
Thank
you.
Thank
you.
Bye.