Special Meeting: Mountain Community Capital Fund Operating Committee (Virtual) (Aug 25, 2026)

Meeting Overview On August 25, 2026, the Mountain Community Capital Fund (MCCF) Operating Committee held a special virtual meeting facilitated by the Buncombe County Strategy Innovation Team. The primary objective of the session was to review the fund’s strategic direction and determine next steps for its future operations. The committee focused on four key themes derived from previous feedback: governance and rules, lender relationships, data and performance metrics, and long-term sustainability. The discussion emphasized the need to balance current lending operations with structural reforms, including potential transitions from a public committee structure and securing additional funding sources.

Key Discussions and Strategic Priorities A significant portion of the meeting was dedicated to debating the order of operations for restructuring the fund. Committee member Carl argued that engaging with lenders and partners must precede any changes to the operating agreement, stating, "we can't create a solution that they can't live with." He noted that current anonymity issues stem from the committee’s structure rather than lender intent. Other members highlighted the need for clear "non-negotiable boundaries" and a strategic plan to guide decision-making. Regarding the fund’s financial structure, Karen Omansky of Self-Help clarified that the City and County do not own a bank account for the MCCF; instead, funds are held in a Self-Help account. She explained that because previous loans from the City and County have been repaid, there are no current funds owned by them, which is why standard bank statements are not issued to the committee.

Community Input and Member Feedback During the public comment and internal discussion phase, committee members offered specific suggestions for the fund’s development. One member emphasized the importance of marketing and promotion, arguing that greater community awareness is necessary to help businesses succeed. This member suggested adding a "number three" priority focused on promotion, alongside existing governance and collaboration goals. Another member proposed a "three-step" process for tracking proposed changes to governing documents, such as the operating agreement, to ensure organized oversight. These comments were integrated into the broader discussion on operational clarity and strategic planning.

Follow-Ups and Next Steps The committee agreed on several specific action items to advance the fund’s operations. The next meeting is tentatively scheduled for September 11, with Rachel Taylor coordinating the invitation. The committee will hold a preparatory meeting to determine questions and proposals for Community Development Financial Institutions (CDFIs), including Mountain BizWorks, Carolina Small Business, and ICAP, before inviting them to strategic discussions. Staff and members agreed to research whether the City or County can hold a bank account, potentially requiring a Tax ID, to manage the transition of the custodian role. Additionally, Karen Omansky agreed to provide an update on the current fund balance before the September meeting, and the committee agreed to include Self-Help in future CDFI strategic meetings. Carl agreed to lead scheduling efforts, potentially using a tool like Doodle, to organize a smaller working group for discussing strategic changes.

Impact on Residents This meeting marks a critical juncture for the Mountain Community Capital Fund as it seeks to redefine its operational model to better serve local businesses. By prioritizing lender collaboration and clarifying the fund’s financial structure, the committee aims to create a more sustainable and transparent system for small business lending. The focus on marketing and community awareness suggests an intent to increase the visibility of available resources, potentially aiding business success in the Mountain Community. The planned engagement with CDFIs and the research into custodial transitions are tactical steps designed to ensure the fund remains viable and accessible to the community it serves.