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Council Member Brewer inquires about interest payments burdening nonprofits
0:52:58
ยท
88 sec
Council Member Brewer raises concerns about the significant interest payments nonprofits are facing due to delayed city payments, citing an example of an organization paying $20,000 a month in interest. She asks Director Flores about the total amount of interest being paid and which organizations are affected.
- Brewer emphasizes the severity of the issue, stating that the interest payments 'take your breath away'
- She inquires if MOCS is aware of the total amount of interest being paid by organizations
- Brewer questions whether certain city agencies are responsible for the delays in payments
Gale A. Brewer
0:52:58
Thank you very much.
0:52:59
We know how great you are and how your staff is.
0:53:02
One question that I get along the same lines, because we're just looking at the big picture, is the, interest they have to pay because they're not getting paid.
0:53:13
And of course, then the Washington situation hovers.
0:53:15
Do you have a sense of I mean, one organization is paying $20,000 a month for interest.
0:53:21
That's not you can't recoup that.
0:53:23
So it almost takes your breath away.
0:53:27
What can, I just, we all wanna help?
0:53:29
We all want this, you do.
0:53:30
But, I'm sorry, thank you.
0:53:32
What, is there something, are you aware of some total amount that people are paying in terms of interest?
0:53:39
Do you know which organizations are paying interest?
0:53:44
And is it the agencies, like you said, you're not responsible for, I would say, crossing the t's and dotting the i's.
0:53:49
That's the ACLs, I assume, in
Lisa Flores
0:53:51
the
Gale A. Brewer
0:53:51
agencies.
0:53:52
But are some agencies, I'm sure you can't list them here, are screwing up?
0:53:57
I mean, you know, we all just can't really believe.
0:54:01
I think you caught up a lot maybe in some of the backlog, as you suggest.
0:54:06
But then you get a new backlog.
0:54:08
So I don't know.
0:54:09
I I just wanna get a sense, maybe first about the interest rates, and then second, what else we can do, I guess, dotting the i's and crossing the t's, but not make it so that every dot and every t has to be crossed.
0:54:21
I I don't know.
0:54:22
I know it's public money, but my god.
0:54:25
Go ahead.