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PART 11 <br />ATTACHMENTS FOR REVOLVING LOAN FUND <br />OPERATIONAL PROCEDURES <br />A. ORGANIZATION STRUCTURE <br />1. Critical Operational Functions <br />The IRF is directly overseen by a Board of Direetorsi made up of no less than (6) <br />six and no more than (9) nine members from the public and private sectors. They <br />must approve all loans, loan modifications, foreclosures, etc. as well as changes in <br />the IRF Plan. They also review loan performance and the biennial performance <br />assessment. Due to the specialized nature of the high technology projects that may <br />be presented for loan consideration, the Board will call upon one or more experts <br />in the chosen field to provide advice as to technical feasibility and market need. <br />The number of experts called will depend on the size, type of technology and <br />complexity of the proposed project. <br />1. 1. Marketing the IRF <br />Identification of opportunities may be done by IRF Board members, staff and <br />other members of the Community Investment Department of the City, financial <br />institutions, Chamber of Commerce, or any other organizations and <br />individuals familiar with the IRF loan program. Staff will bear the primary <br />responsibility for determining the appropriateness of each financing <br />opportunity along with the IRF Board. Staff will also bear the responsibility <br />for development of each appropriate financing opportunity. <br />1.2,Business assistance and advisory services <br />The IRF staff will not directly provide these services. It may provide financing <br />to obtain business advisory services, and it will make referrals to local, state <br />and federal organizations which provide business assistance and advisory <br />services. <br />1.3.Environmental reviews <br />The City of South Bend's Department of Community Investment will provide <br />environmental reviews for IRF loans. Staff performing this function will have <br />experience in performing environmental reviews for other Federal ly-funded <br />projects, or will be supervised by someone with such experience. <br />i The Board of Directors was initially established pursuant to the IndUstrial Revolving Fund of South Bend, Indiana Trust Agreement <br />dated June 10, 1975, which (he City of South Bend tenninatcd effective March 30, 2017, in consultation with the Economic <br />Development Administration. Notwithstanding the City's termination of the Trust Agreement, the Board of Directors continues its <br />work in accordance with the terms of this Plan and the ordinary practices adopted by the Board from time to time. <br />21 <br />