Explanation
BACKGROUND: This legislation authorizes the Director of Development to modify contract EL011376 with the Economic and Community Development Institute by increasing the contract amount by $100,000 and extending the contract termination date from January 31, 2012 to January 31, 2013.
The City has contracted with ECDI since 2005 to provide Columbus residents with an avenue for training and working capital for start-up businesses. During this time ECDI has closed over 140 microenterprise loans to Columbus based businesses. ECDI also provides a network of comprehensive support to build the economic and social capacities of individuals, families, enterprises and communities. 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.
Emergency action is requested to avoid the interruption of vital program services.
FISCAL: $100,000.00 is available from the CDBG Fund for this purpose.
Title
To authorize the Director of Development to amend the Microenterprise Revolving Loan Program agreement with the Economic and Community Development Institute; to authorize the expenditure of $100,000.00 from the Community Block Grant Fund; and to declare an emergency. ($100,000.00)
Body
WHEREAS, the Director of the Department of Development desires to modify contract EL011376 with the Economic and Community Development Institute by increasing the contract amount by $100,000 and extending the contract from January 31, 2012 to January 31, 2013; and
WHEREAS, this modification will allow ECDI to complete loans currently in process and to continue funding new microenterprise loans in the City of Columbus; and
WHEREAS, funding for this increase is from Community Development Block Grant funding; and
WHEREAS, emergency action is requested to allow ECDI to continue to administer the microenterprise loan fund 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 contract with the Economic and Community Development Institute for administration of the Microenterprise Revolving Loan Program, all for the 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 to amend Agreement EL011376 with the Economic and Community Development Institute by increasing the contract amount by $100,000 for the purpose of adding additional funds for microenterprise loans.
Section 2. That the Director of the Department of Development is hereby authorized to amend Agreement EL011376 with the Economic and Community Development Institute by extending the time of the agreement to January 31, 2013.
Section 3. That for the purpose stated in Section 1, the expenditure of $100,000 or so much thereof as may be necessary, be and is hereby authorized to be expended from the CDGB Fund, Fund 248, Department of Development, Economic Development Division, Division 44-02, Object Level One 03, Object Level Three 3336, OCA Code 410021.
Section 4. That this modification is made pursuant to Section 329.16 of the Columbus City Code.
Section 5. 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.