Item Coversheet
City of Independence
AGENDA ITEM COVER SHEET
BILL NO. 21-0091R.
Agenda Title:

21-009 - 1R.  An ordinance authorizing a contract with Community Capital Fund for the administration of a small business assistance program for small businesses recovery utilizing Community Development Block Grant (CDBG-CV) funds in an amount not to exceed $125,000.00.
Recommendations:

Staff recommends approval of this item.
Executive Summary:

Due to the increased financial hardships placed on businesses as a result of COVID 19, staff is seeking authorization to allocate $125,000.00 of CDBG funds to Community Capital Fund for the administration of a Small Business Assistance Program to provide grants and/or loans to small businesses that meet the qualification guidelines established by the Federal Department of Housing & Urban Development (HUD).
Background:

On behalf of the Community Development Department, the Procurement Division issued a Request for Proposals (RFP) for FY 2019-20 CDBG Small Business Assistance Program in January, 2021. The RFP was published through the Public Purchase e-procurement website, which notified thirty (30) potential respondents; (3) accessed the RFP. One firm responded to the RFP: Community Capital Fund.

 

Staff reviewed the proposal based on established criteria which included:

· Organizational Capacity and Experience to implement a rental assistance program utilizing federal funds,

· Conformance with the City’s 5-year Consolidated Plan,

· Fiscal Capacity and Agency Management System,

· Methodology for Accessing Client Eligibility and Tracking those served,

· Performance Measurable,

· Leveraging Resources and

· Achieving Results & Program Evaluation.

 

Community Capital Fund is being recommended to utilize $125,000.00 to implement a Small Business Assistance Program will provide grants and/or loans to small businesses in the City of Independence. Business with between one (1) and fifty (50) employees will be eligible to receive $5000 minimum up to $20,000 from the Small Business Assistance Program The immediate financial assistance will help businesses to pay leases, to provide commercial mortgage assistance, keep residents employed, and to assist recipients to stay in business.


Fiscal Impact:

The City has $125,000 of CDBG FY 19-20 funds that will be used for this program.
Department:          Community DevelopmentContact Person:          Tom Scannell

REVIEWERS:
DepartmentAction
Community Development DepartmentApproved
Finance DepartmentApproved
City Managers OfficeApproved
City Clerk DepartmentApproved
Council Action:          Council Action:         
ATTACHMENTS:
DescriptionType
OrdinanceOrdinance
ContractContract