CPI discusses NAP funds loans

Loan application requirements for the Neighborhood Assistance Program (NAP) loans were discussed at the regular meeting of California Progress, Inc. (CPI) on Thursday, July 17.

The loan committee is working together with Ann Albertson, NAP administrator, to develop basic guidelines for the application process. The CPI board agreed that a credit report will be the first step for anyone seeking one of the facade improvement loans. The minimum acceptable credit report number has not been determined. Other criteria discussed includes no bankruptcies within the previous five years. An artist's rendering, paid for by the borrower, will be necessary for approval of the loan if a full facade is being considered. If less, such as a sidewalk replacement, a rendering is probably not necessary.

No NAP funds will be loaned for roof work. The maximum loan amount will be $15,000. There will be two people, preferably with contractor experience, appointed by the board to monitor progress on construction. Funds for the work will be paid to the contractor after the work is approved. Money will not be paid to the borrower. About $40,000 is already on hand for the NAP loans, once a loan application is in place.

In other business, the need for new board members to serve California Progress, Inc. (CPI) was discussed. It is desirous to have the new board members from all facets of the population. The CPI is looking for an broad range of prospective members of both CPI in general and the board specifically.

In other business, the board decided to have the "Wine, Dine and Win" fundraiser in 2015. Dates not in conflict with other major events are being sought. There is still some question as to where the event will be held. The California Event Center on the Courthouse Square is expected to be open in time for the event. The board plans to check it out at a future meeting. The next regular board meeting is set for noon, Aug. 21, at the library.