Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to modify a grant agreement with the Tony R. Wells Foundation to extend the end date from February 28, 2025 to December 31, 2025 to prevent a disruption in services, to provide fiscal management and other services as a partner in the City of Columbus Small Business Capacity-Building Micro Grants Program.
Original Agreement $500,000.00 Ordinance 2499-2023 PO412619
Amendment $ 0.00 Ordinance 2827-2023 change to grant agreement
Modification No. 1 amount $ 0.00
Total contract amount $500,000.00
In accordance with C.C. 329.09(a):
1. No additional funds are required by this ordinance.
2. The need for additional services was unforeseen at the time the initial contract was awarded, but a legislative modification is required by operation of C.C. 329.09(a).
3. It is in the City’s best interest to continue with the Tony R. Wells Foundation current contract as they provide fiscal management and other services as a partner in the City of Columbus Small Business Capacity-Building Micro Grants Program.
The Department of Development and Tony R. Wells Foundation entered into a grant agreement in October 2023 with an award of $500,000.00 to assist the City of Columbus with creating the Small Business Capacity-Building Micro Grants Program, a pilot grant program to support small businesses at a stage of growth. The program is designed to target businesses who need cash assistance to support the purchase of one or more tangible, durable assets that will further them on the path to elevating their business to the next level. To be eligible, businesses must:
· Be in good standing with the City of Columbus;
· Have a physical presence (business address) in the City of Columbus;
· Have no more than five (5) employees, including the business owner(s);
· Be positioned for or in a stage of gr...
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