Title
A RESOLUTION AUTHORIZING THE SUBMISSION OF SUPPORT DOCUMENTATION FOR A CASH MATCH TO THE U.S. TREASURY'S COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION PROGRAM FOR THE CHEROKEE NATION ECONOMIC DEVELOPMENT TRUST AUTHORITY'S NATIVE AMERICAN CDFI ASSISTANCE GRANT APPLICATION
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WHEREAS, the Cherokee Nation since time immemorial has exercised the sovereign rights of self-government in behalf of the Cherokee people;
WHEREAS, the Cherokee Nation is a federally recognized Indian Nation with a historic and continual government to government relationship with the United States of America;
WHEREAS, the Cherokee Nation has a responsibility to promote the well-being of its tribal citizens and employees, including through responsible and appropriate financial education and affordable financing;
WHEREAS, the Cherokee Nation Economic Development Trust Authority (CNEDTA) has applied to the Community Development Financial Institution's (CDFI) Native American CDFI Assistance (NACA) program for funding to meet growing consumer demand by strengthening its lending capacity;
WHEREAS, CNEDTA has administered consumer and business lending programs for many years and has extensive experience in providing these services to Cherokee Nation citizens and Cherokee Nation, Cherokee Nation Businesses (CNB), and CNB subsidiaries employees;
WHEREAS, the Cherokee Nation Businesses Board of Directors has agreed to provide these matching funds through a direct contribution to the Cherokee Nation, based on CNB, and it subsidiaries employees participation in the CNEDTA Consumer Loan Fund and Financial Education services;
BE IT RESOLVED BY THE CHEROKEE NATION, the Tribal Council hereby authorizes the provision of a cash match in the amount of $650,000 in support of CNEDTA's CDFI NACA grant application to capitalize and strengthen its lending programs; and certifies that CNEDTA has met the requirements of the CDFI NACA funding and policy requirements.