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CITY OF PLEASANTON NOTES TO BASIC FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2022 Note 3: Notes Receivable (Continued)  Sewer Connection Fee Loans – Loans are granted to restaurant owners to finance sewer connection fees. The loan program was adopted in 1989 to encourage restaurants to locate in the downtown area. In 1997, the City expanded the loan program to restaurants outside downtown Pleasanton. The outstanding amount as of June 30, 2022, was $15,007.  Hacienda Business Park LED Project Loan – In 2015, the City loaned $251,668 to the Hacienda Business Park Owners Association (HBPOA) for their share of the City LED Street Light Retrofit Capital Improvement Project. There are twenty-one (21) semi-annual payments due on the loan; each payment is due by June 22 and December 22 of each year. The interest rate adjusts annually based on the Local Agency Investment Fund interest calculated each January 2. The outstanding amount as of June 30, 2022, was $52,149.  Business Support Program Loans – Due to the COVID-19 pandemic, in 2020, the City established a program to provide loans to local small businesses. Eligible businesses included those that are independently or locally owned, have a physical location in Pleasanton, were in good standing with the City and employ between 2-25 employees. Loan amounts were $2,900 for businesses located in the downtown district, and $2,500 for those outside of the downtown area. In 2021, the City increased the eligible loan amounts to $10,000 ($10,800 for downtown) for micro-enterprise businesses employing 2-10 employees and $20,000 ($21,600 for downtown) for businesses employing 11-25 employees. The loans are interest free. Repayment will commence once the local emergency has been lifted by action of the City Council and will be payable over 36 months. During FY 2019/20, the City provided 61 loans totaling $161,700. With the additional funding in FY 2020/21, the City provided 54 new loans and increased the funding for 46 of the previously 61 funded loans. During FY 2021/22, an additional $20,000 loan was provided. The total outstanding amount as of June 30, 2022, was $1,292,900.  Hacienda Business Park Owners Association Landscape Renovation Loan – In 2019, the City loaned $732,548 to the Hacienda Business Park Owners Association (HBPOA) for a landscape renovation project on the 833-acre property known as Hacienda Business Park. There are one hundred twenty (120) monthly payments due the first of each month commencing January 1, 2020. The interest rate on the loan is set at an annual rate of compounded interest of 2.72 percent. The outstanding amount as of June 30, 2022, was $566,504. 75