HomeMy WebLinkAboutReso 2025-059RESOLUTION NO. 2025-059
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING A MEMORANDUM OF
UNDERSTANDING WITH THE CITY OF SAN DIEGO FOR
THE CONTINUED OPERATION AND ULTIMATE
UNWINDING OF THE SAN DIEGO REGION REVOLVING
LOAN FUND
WHEREAS, the City of San Diego is a grantee and administrator of the San Diego Region
Revolving Loan Fund (“RLF”) first established in 2002, consisting of $1,383,308 in funding from
the U.S. Department of Commerce Economic Development Administration, $1,283,308 in
matching funds from the City of San Diego, and $100,000 in matching funds from the City of
Chula Vista; and
WHEREAS, the City of San Diego operates the RLF for the benefit of businesses in the
City of Chula Vista and the City of San Diego under a memorandum of understanding dated
January 2, 2003; and
WHEREAS, the City of Chula Vista recognizes that its original grant match of $100,000
has been expended in administrative costs over the 22-year period of the program; and
WHEREAS, the City of San Diego and the City of Chula Vista desire to enter into a new
memorandum of understanding to unwind the combined RLF.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Chula Vista,
that it approves a memorandum of understanding for the operation and ultimate unwinding of the
San Diego Region Revolving Loan Fund, between the City of Chula Vista and the City of San
Diego, in the form presented, with such minor modifications as may be required or approved by
the City Attorney, a copy of which shall be kept on file in the Office of the City Clerk, and
authorizes and directs the Mayor or the City Manager to execute same.
[SIGNATURES ON THE FOLLOWING PAGE]
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Resolution No. 2025-059
Page No. 2
Presented by Approved as to form by
Tiffany Allen Marco A. Verdugo
Assistant City Manager City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 6th day of May 2025 by the following vote:
AYES: Councilmembers: Chavez, Fernandez, Inzunza, Preciado, and McCann
NAYS: Councilmembers: None
ABSENT: Councilmembers: None
John McCann, Mayor
ATTEST:
Kerry K. Bigelow, MMC, City Clerk
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Kerry K. Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 2025-059 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 6th day of May 2025.
Executed this 6th day of May 2025.
Kerry K. Bigelow, MMC, City Clerk
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