Dane County  
Minutes - Final Unless Amended by  
Committee  
Community Development Block Grant (CDBG) Commission - Loan  
Review Team Subcommittee  
Consider:  
Who benefits? Who is burdened?  
Who does not have a voice at the table?  
How can policymakers mitigate unintended consequences?  
Thursday, March 14, 2024  
1:00 PM  
Hybrid Meeting  
A. Call To Order & Roll Call  
Meeting was called to order at 1:02pm with a quorum present.  
Staff Present: Joanna Cervantes, Cindy Grady, Michelle Bozeman  
2 - JEREMIAH DEGOLLON, and TAYLOR BROWN  
Present  
1 - GODWIN AMEGASHIE  
Excused  
B. Consideration of Minutes  
06-06-2023 CDBG COMMISSION - LOAN REVIEW TEAM MINUTES  
2023  
MIN-553  
Attachments: 6-6-2023 CDBG Commission - LRT Minutes  
Motion was made by Brown and seconded by DeGollon to approve the 6/6/2023  
Loan Review Team meeting minutes. No discussion and no opposition. Motion  
passed unanimously.  
C. Reports to Committee  
1. Loan Manuals  
Cindy Grady gave an overview of the three loan manuals, highlighting that the manuals  
have not been updated since 2013. There are sections that need to be revisited and/or  
updated, including sections on Modification and Default. It was suggested to review and  
update the manuals as needed every 2 years.  
COMMERCIAL REVITALIZATION REVOLVING LOAN FUND (CRLF)  
2023  
RPT-575  
Attachments: CDBG - CRLF - Loan Manual - 8.13.2013 with Appendices  
ECONOMIC DEVELOPMENT REVOLVING LOAN FUND (ED-RLF)  
2023  
RPT-576  
Attachments: ED-RLF-Manual (1)  
MICRO-ENTERPRISE BUSINESS LOAN (MBL)  
2023  
RPT-577  
Attachments:  
Microenterprise Business Loan Program- Policies and Procedures  
Manual- FINAL (approved by CDBG Commission 02.16.17)  
2. Timelines for Loan Programs & Manual Revisions  
The LRT and CDBG Staff will review and edit the Microenterprise Business Loan (MBL)  
manual first, and meet again in approximately one month. They will then review and edit  
the Economic Development Revolving Loan Fund (ED-RLF) and the Commercial  
Revitalization Loan Fund (CRLF).  
3. Loan Servicing Software  
Joanna Cervantes discussed our efforts to obtain a loan servicing software to manage  
the HOME mortgage assistance and rehabilitation loans, and each of the Revolving Loan  
Funds (CRLF, ED-RFL, MBL). Several vendors have been interviewed.  
D. Action Items  
2023  
ACT-316  
REVIEW AND POSSIBLE ACTION: RECOMMENDATION ON CREATING  
POLICY ON LOAN FORGIVENESS AND/OR MODIFICATIONS  
LRT members and CDBG staff discussed the existing language on Modifications in the  
loan manuals, as well as types of loan modifications generally, and if forgiveness would  
be an option for the CRLF and ED-RLF. Current borrowers should follow current  
language in manuals, however, updates on types of modifications rather than forgiveness  
may be included in the revisions. Motion made by Brown and seconded by DeGollon to  
review and recommend to include the modification language in the ED-RLF loan manual  
into the two other loan manuals (CRLF and MBL) for consistency; and discuss the  
underwriting fees with Madison Development Corporation (MDC).  
The recommended revisions to all manuals will be presented at the upcoming  
CDBG Commission meeting on March 19, 2024, for final approval. Motion passed  
by voice vote  
E. Future Meeting Items and Dates  
LRT will meet in approximately one month, to be scheduled by CDBG staff. Future  
meeting items will include discussing the minimum/maximum number of members on the  
LRT per the Dane County Ordinance.  
F. Public Comment on Items not on the Agenda  
There was no public comment, and no registrants for this meeting.  
G. Adjourn  
Motion was made by DeGollon and seconded by Brown to adjourn the meeting at  
1:43pm. Motion passed by voice vote.