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 three years COMBA has provided one-to-one consulting services to over 3000 existing and potential business persons. From these businesses over 240 jobs were created and 481 jobs retained. The business owners were also awarded contracts in the amount of $18,757,748.00 and awarded loans in the amount of $5,414,690.00 Over 175 conferences and workshops were facilitated with attendance in excess of 5500.
This legislation authorizes the Director of the Department of Development to enter into an agreement with the Central Ohio Minority Business Association for $30,000.00 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 without interruption.
FISCAL IMPACT: $30,000.00 has been allocated from the 2010 General Fund for this initiative.
Title
To authorize the Director of the Department of Development to enter into an agreement with the Central Ohio Minority Business Association for administrative costs associated with start-up and emerging businesses; to authorize the expenditure of $30,000 from the General Fund; and to declare an emergency. ($30,000.00)
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 service...
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