ECONOMIC DEVELOPMENT COMMITTEE
MINUTES
THURSDAY, AUGUST 20, 2026, 3:00 P.M.
ART PICK COUNCIL CHAMBER
3900 MAIN STREET
EDC-90
PRESENT: Chair Robillard, Vice Ch air Cervantes, and Member Hemenway
ABSENT: None
STAFF PRESENT: Gil Hernandez, Miranda Ev ans, Desi Messai, Anthony Beaumon, Jeff McLaughlin, Jessica Gonzales, Laurel Reimer, Matthew Taylor, Sol Garay, Rakel Engles, Diana Alegria, Melanie Bruns (virtual), and Lizeth Vega (virtual)
ALSO PRESENT: Thomas Fryer and Chris Gray
Chair Robillard called meeting to order at 3:00 P.M.
ORAL COMMUNICATION FROM THE AUDIENCE
There was no one wishing to address the Committee.
DISCUSSION CALENDAR
POURING RIGHTS PROPOSAL FOR PRIMARY BEVERAGE DISTRIBUTION AND SALES
PARTNER FOR THE CITY OF RIVERSIDE
Following discussion, it was moved by Vice Chair Cervantes and seconded by Member Hemenway to recommend negotiations of a pouring rights agreement between Pepsi, Inc., and the City led by the City Manager, or designee, and adhering to the parameters outlined in the staff report, to be considered by the City Council at a future meeting. The motion carried unanimously.
AGREEMENT TO ADMINISTER AND MANAGE CITY OF RIVERSIDE REVOLVING LOAN FUND Following discussion, it was moved by Vice Chair Cervantes and seconded by Member Hemenway to recommend that the City Council (1) approve the Program Administration Agreement with First Co mmunity Capital Inc., (FCCI) Riverside, California, to administer and manage the Ci ty of Riverside Revolving Loan Fund (RLF) for a five-year term, for an agreement amount that includes $40,000 in administrative payments and authorizes First Community Capital, Inc., to manage the administration of the City’s $135,000 contribution to the Loan Fund; (2) authorize the City Manager, or designee, to execute the Agreement, including minor non-substantive changes; and (3) direct staff to proceed with program launch and implementation in coordination with First Community Capital Inc. The motion carried unanimously.