Article 12 - Citizen Advisory Review Board
Article 12 – Citizen Advisory Review Board
SECTION 2-1201: AS NAMED
SECTION 2-1202: Members
SECTION 2-1203: Duties
section 2-1201: as named
Pursuant to Ordinance No. 18-11-01 and as the same may be amended there was created in the City of Grant a “Citizen Advisory Review Board” (also known as the “Program Review Committee”, the “Citizen Advisory Committee” and the “Economic Development Advisory Board”. This committee shall now be known as the “Citizens Advisory Review Board” (and may be referred to as the “Advisory Board” herein).
SECTION 2-1201: members
The Citizen Advisory Review Board shall consist of no fewer than five (5) nor more than ten (10) citizens who are registered voters of the City of Grant, and the program administrator, who shall be a non-voting ex officio member. The terms of the board members shall be four years. They shall be appointed by the mayor with the approval of the City Council. At least one member of the board must have expertise or experience in the field of business, finance, or accounting. No appointed member of the board shall be an elected or appointed city official, an employee of the city, a participant in a decision-making position regarding expenditures of program funds, or an official or employee of any qualifying business receiving financial assistance under the economic development program or of any financial institution participating directly in the economic development program.
SECTION 2-1202: duties
- The board will meet as required to review applications, recommendations, or concerns by the program administrator, to review loan applications, monitor existing loans, and to review the program, but no less than quarterly.
- This board shall report to the city council on its findings, suggestions, and recommendations at such times as it determines necessary or at any time the council or mayor requests.
- The board shall submit semiannual accountings, findings and summaries at a public hearing called for that purpose at the first regular scheduled meeting in January and in July. The board shall assure that the annual program audit includes information necessary for a complete audit of the loan program.
- The board shall be in charge of the primary administration of the loan program. It will monitor the individual loan accounts of the loan program and make a recommendation to the program administrator as to what is necessary for the applicant to accomplish a successful loan. In making the recommendation, the board shall consider collateral and other security, business plans, outside income, and other criteria it believes are necessary for a successful loan repayment. The Board may also recommend alternatives to a standard loan, additional information, and documents necessary to validate the loan, including security documents.
- The board shall submit to the Mayor and City Council concerns as to impropriety, fraud, or deceit in the program.