Explanation
BACHGROUND: 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 3,166 existing and potential business persons. From these businesses, over 265 jobs were created and 493 jobs retained. The businesses were also awarded contracts in the amount of $23,447,185 and awarded loans in the amount of $7,219,586. Over 268 conferences and workshops were facilitated with over 7,333 participants in attendance.
This legislation authorizes the Director of the Department of Development to enter into an agreement with the Central Ohio Minority Business Association for $37,500 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: $37,500 has been allocated from the 2011 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 programs and services for start-up and emerging businesses; to authorize the expenditure of $37,500.00 from the General Fund; and to declare an emergency. ($37,500.00)
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 services a...
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