[San Francisco Department of the Environment Grant Awards]
Resolution approving Department of the Environment Funding Recommendation for a grant award to administer a Small Business Revolving Loan Fund pilot program, which will provide short-term microloans to small San Francisco businesses to help them participate in the San Francisco Energy Watch program and access Energy Efficiency retrofits.
WHEREAS, since July 2009, the City and County of San Francisco has levied an innovative carbon fee on municipal air travel; and,
WHEREAS, Ordinance 172-09 instructs the Department of the Environment to administer the revenue generated through this fee and invest in local projects that mitigate and sequester carbon emissions; and,
WHEREAS, the Department of the Environment administers these funds through the San Francisco Carbon Fund; and,
WHEREAS, Twenty-thousand dollars ($20,000) from the San Francisco Carbon Fund was leveraged to secure an additional twenty-thousand dollars ($20,000) from the PG&E Government and Communities Partnerships Strategic Energy Resources fund to support a revolving microloan program; and,
WHEREAS, providing microloans will help small businesses that do not have to upfront capital necessary to participate in SF Energy Watch take advantage of the program; and,
WHEREAS, in addition to reducing greenhouse gas emissions, this project will provide a range of co-benefits including reduced energy bills for small local businesses that can help them remain in San Francisco in the face of increasing expenses; and,
WHEREAS, after a competitive process the Department of the Environment has selected Mission Asset Fund to administer this program; now therefore, be it
RESOLVED, the Commission approves the award of $40,000 to be disbursed during FY 2016-2017 to administer a Small Business Revolving Loan Fund pilot program, which will provide short-term microloans to small San Francisco businesses to help them participate in the San Francisco Energy Watch program and access energy efficiency retrofits.
I hereby certify that this Resolution was adopted at the Commission on the Environment’s Meeting on May 24, 2016.
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Anthony Valdez, Commission Affairs Manager
Vote: 6-0 Approved
Ayes: Commissioners Omotalade, Bermejo, Hoyos, Stephenson, Wald and Wan.
Noes: None
Absent: None