PSA - Development and Execution Emergency Small Business Loan Program - Accion Serving Illinois and Indiana

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GRANT AGREEMENT This Grant Agreement (this "Agreement") is made as of the 14th day of April 2020 by and between the City of South Bend, Indiana, an Indiana municipal corporation, acting by and through its Board of Public Works (the "City") and Accion/Chicago, Inc. DBA Accion Serving Illinois and Indiana DBA Accion, an Illinios nonprofit corporation (the "CDFI"). WHEREAS, on March 6, 2020, Governor Holcomb declared a public health emergency due to the spread of COVID-19 within the State of Indiana; on March 11, 2020, the World Health Organization declared COVID-19 a global pandemic; and on March 13, 2020, President Trump declared a national emergency due to COVID-19; and WHEREAS, locally, on March 11, 2020, the first confirmed case of COVID-19 was announced in St. Joseph County, Indiana, and on March 19, 2020 Mayor Mueller issued Executive Order 01-2020 declaring a local disaster emergency and instituting a travel advisory; and WHEREAS, on March 23, 2020 the City's Common Council passed Resolution 4846-20, extending Mayor Mueller's emergency declaration; and WHEREAS, on March 23, 2020, Governor Holcomb issued Executive Order 20-08, which requires Hoosiers to remain at home except for performing certain essential functions and which was extended through April 20, 2020 by Executive Order 20-18 (the "Stay at Home Orders"); and WHEREAS, the Stay at Home Orders have had a negative effect on local small businesses; and WHEREAS, the City's administration has determined that assisting small businesses in the City will be essential to their continuing survival during and after the COVID-19 crisis; and WHEREAS, the CDFI is a Community Development Financial Institution that serves Indiana and is willing to provide loans to small businesses located within the City; and WHEREAS, the City desires to provide a grant of funds to the CDFI, and the CDFI desires to accept the grant, in order to facilitate such loans as more specifically set forth herein. NOW, THEREFORE, in consideration of the foregoing and of the terms and conditions set forth herein, the parties hereto agree as follows: