Explanation
BACKGROUND: The Central Ohio Minority Business Association (COMBA) is a non-profit agency founded in 1978. Through its programs and services, entrepreneurial development assistance and high-end business consulting to start-up and emerging business owners is provided. Services are provided at "no cost" to the client and all services are provided on a non-discriminatory basis.
During the last two years COMBA has provided one-to-one consulting services to over 2,700 existing and potential business persons. From these businesses over 216 jobs were created and 481 jobs retained. The business owners were also awarded contracts in the amount of $14,491,831; and awarded loans in the amount of $3,814,690. Over 150 conferences and workshops were facilitated with attendance in excess of 5,100.
This legislation authorizes the appropriation and expenditure of $50,000 from the Urban Site Acquisition Fund and authorizes the Director of the Department of Development to enter into an agreement with the Central Ohio Minority Business Association for administrative costs associated with increased employment opportunities and business growth in the City of Columbus.
Emergency action is requested to allow COMBA to continue providing services to start-up and emerging businesses in a timely manner.
FISCAL IMPACT: The $50,000 for the administrative costs will come from the Urban Site Acquisition Loan Fund. This legislation authorizes the transfer, appropriation and expenditure of funds.
Title
To authorize the transfer of $50,000 between subfunds within the Urban Site Acquisition Loan Fund; to authorize the appropriation of $50,000 within the Urban Site Acquisition Loan Fund to the Department of Development; to authorize the Director of the Department of Development to enter into an agreement with the Central Ohio Minority Business Association for administrative costs; to authorize the expenditure of $50,000 from the Urban Site Acquisition Loan Fund; and to declare an emergency. ($50,000)
Body
WHEREAS, the Central Ohio Minority Business Association (COMBA) is a non-profit agency founded in 1978; and
WHEREAS, COMBA provides entrepreneurial development assistance and high-end business consulting to start-up and emerging business through its programs and services; and
WHEREAS, COMBA services are provided at "no cost" to the client and all services are provided on a non-discriminatory basis; and
WHEREAS, $50,000 is available from the Urban Site Acquisition Loan Fund for administrative costs for COMBA; and
WHEREAS, COMBA desires to enter into an agreement with the City for administrative costs associated with programs and services for start-up and emerging businesses; and
WHEREAS, emergency action is requested to allow COMBA to continue providing services to start-up and emerging businesses in a timely manner; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to transfer, appropriate and expend funds for administrative costs associated with COMBA, 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. The City Auditor is hereby authorized to establish a subfund within the Urban Site Acquisition Fund, Fund 292, to provide for administrative costs associated with COMBA programs and services for start-up and emerging businesses.
Section 2. The City Auditor is hereby authorized to transfer $50,000 in cash from the Urban Site Acquisition Fund, Fund 292, subfund 003 to the subfund created by Section 1 of this ordinance.
Section 3. That the City Auditor be and is hereby authorized to appropriate $50,000 for the Urban Site Acquisition Loan Fund, Fund 292, to the Department of Development, Economic Development Division, Division 44-02, Object Level One 03, Object Level Three 3336 for administrative costs associated with COMBA programs and services for start-up and emerging businesses.
OCA Codes and subfund numbers will be issued by the City Auditor upon establishment of the subfund.
Section 4. That the Director of the Department of Development is hereby authorized to enter into an agreement with the Central Ohio Minority Business Association for administrative costs associated with start-up and emerging businesses.
Section 5. That for the purpose stated in Section 4, the expenditure of $50,000 or so much as may be necessary be and is hereby authorized to be expended from the Urban Site Acquisition Loan Fund, Fund 292, Department of Development, Economic Development Division, Division 44-02, Object Level One 03, Object Level Three 3336.
OCA Codes and subfund numbers will be issued by the City Auditor upon establishment of the subfund.
Section 6. That for the reason 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 form and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.