At the Tuesday, November 17, 2015, county board meeting, commissioners approved a small change in the way it gives out loans from the county Revolving Loan Fund (RLF).
The board approved, with a caveat from County Attorney Molly Hicken, the recommendation of the RLF Committee to grant a loan of $1,600 to John Moos so he can purchase an Econoline DP 36-1 blast cabinet sand blaster.
In his application Moos said, “I sculpt stones in a variety of shapes and sizes, from small pocket stones to memorial stones commissioned for specific purposes. Pet monuments are very popular.”
Moos has been in business for 30 years and he said the sand blaster would allow him to be “three times more efficient.”
Hicken asked the board to pass three resolutions concerning three recent revolving loans, Moos’s loan and loans given to Jeremy and Kate Keeble for $46,504, and a loan to N & L Samari Properties LLC for $52,200, that would help the county collect if they were in default.
The first resolution stated, “Be it resolved that Cook County will enter into a loan and security agreement with Jeremy and Kate Keeble for award and payment of a loan in the amount of $46,504 from the Cook County Revolving Loan Fund to be paid back over a 20-year period and secured with a mortgage on their homestead.”
The resolution for N & L Samari Properties was similar to the Keeble loan agreement and the one for Moos asked for the loan to be paid back in one year and be secured by a lien on the purchased equipment.
Currently, said Hicken, the county has asked for a promissory note or a mortgage to back loans, but a pledge agreement from the borrowers would give the county more ability to collect if needed.
“We’re putting this in writing so they are not revocable promises,” said Hicken. “I don’t think it’s too much to ask.”
Commissioner Jan Sivertson asked what the intent of the Revolving Loan Fund was and Auditor Braidy Powers answered, “Job creation or job retention.”
Powers said the state gave the county the money to establish the fund for that purpose.
Commissioner Garry Gamble said the history of the fund has been very good and he applauded Hicken for her thoroughness on the new resolutions, which the board approved of unanimously.
Also approved by the board was the recommendation of the Cook County Soil and Water Department to grant 12 weeks of maternity leave followed by 12 weeks of parental leave to Kerrie Berg.
Berg will be off from December 2015 to May 2016. While she is on parental leave she will work from 8 to 40 hours per week. Theresa Oberg will pick up some of Berg’s time by working from 20 to 30 hours per week. Oberg now works 20 hours per week. Berg will work from 30-40 hours per week from June 2016 to December 2016.
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