4.20 16-1311 Subject: Authorize An Allocation Of $20 Million In New Market Tax Credits From: Economic And Workforce Development Department Recommendation: Adopt A Resolution 1) Authorizing Oakland Renaissance New Market Tax Credit, Inc. (ORNMTC), An Affiliate Of The City, To Accept An Allocation Of Tax Credit Authority In An Amount Not To Exceed $20 Million Pursuant To The New Markets Tax Credit Program, And To Enter Into An Allocation Agreement And Related Documents With The Community Development Financial Institutions Fund For This Tax Credit Authority. 2) Authorizing An Allocation Of $14 Million In New Market Tax Credits By ORNMTC, To Neighborhood Assets LLC, Or Its Affiliates For The Development Of A Grocery Store At 3103 Myrtle Street; And Authorizing An Allocation Of $6 Million In New Market Tax Credits To A Commercial Loan Pool, To Be Administered By ORNMTC And Other Partners, For The Purpose Of Providing Small Business Loans To Commercial Businesses In Eligible Sections Of Oakland; And 3) Authorizing Appropriation Of $2,630,059 To The Revolving Commercial Loan Funds And A Leveraged Loan To ORNTMC Or A Related Entity For $4,500,000 From Revolving Commercial Loan Funds For The Commercial Loan Pool Program; On The July 11, 2017 Community And Economic Devevlopment Committee Agenda