(a) Establishment. The Finance Director is hereby authorized to establish a Loan Review Advisory Committee, to advise the Director and City staff, as needed, on the granting of a loan under any loan program established by the City Council. Such Committee shall consist of three (3) members, to be appointed by the Finance Director, who shall have banking or other relevant financial expertise and preference shall be given to persons who are either residents of the City or who work in the City but no member shall hold elective office or employment with the City. Other City staff members may participate at the Finance Director's request in Committee meetings in a nonvoting advisory capacity.
(b) Functions. The Loan Review Advisory Committee shall review all applications for economic development loans including, but not limited to, industrial loans, commercial loans, and micro-loans submitted to the City and make recommendations on whether to grant or deny the requested loan.
(c) Confidentiality. The Loan Review Advisory Committee shall not be subject to the Ohio Open Meetings Act, and due to the sensitive and personal financial information reviewed by the Committee, the Committee's meetings shall not be open to the public. The Finance Director shall assure that all information of a sensitive or personal financial nature presented to the Committee is appropriately safeguarded and retained by the Finance Department.
(Ord. 2022-35. Adopted 09/22/22)