Explanation
BACKGROUND: On August 20, 2005, the Department of Development entered into an agreement with the Economic and Community Development Institute EL 005566 for $133,000.00, expiring June 30, 2006.
ECDI provides a network of comprehensive support services to build the economic and social capacities of individuals, families, enterprises and communities. One of the services provided by ECDI is micro-loans for small businesses. ECDI has become a leader in the field of micro lending, providing microenterprise training to an underserved population including minorities, immigrants, refugees, asylees, low-income recipients and the working poor. ECDI provides microenterprise training, technical assistance and loan funds to assist the applicants with successfully starting or expanding their small business.
Additional time is needed to allow ECDI to complete this contract. Currently $45,776 remains unspent from the contract for loans that are currently in process. It is the desire of ECDI and the Department of Development to extend this agreement to allow all loans in process to be completed. This legislation will extend the term of the agreement from June 30, 2006 to September 30, 2006.
Emergency action is requested so that the contract with the Economic and Community Development Institute can continue uninterrupted.
FISCAL IMPACT: No additional funds are needed for this modification.
Title
To authorize the Director of the Department of Development to amend the agreement with the Economic and Community Development Institute by extending the expiration date of the agreement to September 30, 2006; and to declare an emergency.
Body
WHEREAS, the Department of Development entered into an agreement with the Economic and Community Development Institute for micro lending services in the City of Columbus; and
WHEREAS, additional time is needed to carry out the above activities; and
WHEREAS, no additional funds are needed to complete this agreement; and
WHEREAS, emergency action is requested to allow ECDI to continue the Microenterprise Revolving Loan Program in the City of Columbus uninterrupted; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to amend the agreement with the Economic and Community Development Institute all for the immediate preservation of the public health, peace, property, safety and welfare; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized and directed to amend Agreement EL005566 with the Economic and Community Development Institute by extending the term of the agreement to September 30, 2006.
Section 2. That this modification is made pursuant to Section 329.16 of the Columbus City Codes, 1959, as amended.
Section 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.