Chapter 2.86


2.86.010    Established – Membership.

2.86.020    Duties.

2.86.010 Established – Membership.

There is established a loan review board which shall be advisory to city staff, and shall consist of no more than five persons who shall be appointed by the mayor. Each member shall serve terms of four years. A member may be reappointed for consecutive terms. Members are not required to be residents of the city. [Ord. 2018-05-010 § 1; Ord. 2018-03-006 § 11].

2.86.020 Duties.

The loan review board shall meet at such times as are set to review loan applications submitted to it and to recommend action on such applications, and to recommend interest rates, loan fees, security requirements, collection and liquidation actions, loan policies, and other matters relating to community development, including multifamily development.

The board shall be guided in its recommendations by policies of the city council, guidelines established by the community development manager, mayor and the city council, and applicable local, state and federal laws and regulations. [Ord. 2018-03-006 § 11; Ord. 10225 §§ 4, 5, 1991; Ord. 9971, 1989].