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City of San Leandro <br />Meeting Date: October 21, 2013 <br />Resolution - Council <br />Agenda Section:File Number:13-454 CONSENT CALENDAR <br />Agenda Number: <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW:Not Applicable <br />TITLE:ADOPT: Resolution Authorizing the City Manager to Transmit a Trustee <br />Application to Kiva Microfunds, a California Non-Profit Public Benefit <br />Corporation (“Kiva”), to Identify and Recommend Small businesses in San <br />Leandro for Kiva Zip’s Micro -Lending Platform (provides a financial incentives <br />tool to attract and support businesses in San Leandro) <br />WHEREAS, a Trustee application from the City of San Leandro to Kiva has been <br />presented to this City Council; and <br />WHEREAS, the City Council is familiar with the contents thereof; and <br />WHEREAS, the City Manager has recommended approval of said application; and <br />WHEREAS, the City of San Leandro desires to encourage and spur economic <br />development and job creation, and support local businesses in an era of limited financial <br />resources; and <br />WHEREAS, at the end of 2011, Kiva launched a pilot program called Kiva Zip in the <br />U.S. (and Kenya) to directly connect Kiva lenders to small businesses focused on economic <br />and social need and thereby spur local economic development and job creation; and <br />WHEREAS, Kiva Zip relies on “Trustees” to identify and recommend small businesses <br />to the Kiva Zip website where small businesses with an economic need are eligible to raise up <br />to $5,000 or $10,000 in crowdfunded capital with zero percent interest; and <br />WHEREAS, such “Trustees” identify and recommend small businesses for the Kiva Zip <br />platform, and do not finance, guaranty or have any fiduciary duty to these small businesses; <br />and <br />WHEREAS, “Trustees” do not have any contractual obligation with any Kiva lender or <br />borrower; and <br />Page 1 City of San Leandro Printed on 10/15/2013