City of Columbus - File #: 1704-2006

• File #: 1704-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/26/2006
• In control: Jobs and Economic Development Committee
• On agenda: 10/16/2006
• Final action: 10/18/2006
• Title: To authorize the transfer of $100,000 within the CDBG Fund; to authorize the Director of the Department of Development to enter into a contract with the Economic and Community Development Institute for administration of the Microenterprise Revolving Loan Program; to authorize the expenditure of $100,000 from the CDBG Fund; and to declare an emergency. ($100,000.00)

Date	Ver.	Action By	Action	Result
10/18/2006	1	MAYOR	Signed
10/18/2006	1	ACTING CITY CLERK	Attest
10/16/2006	1	Columbus City Council	Approved	Pass
10/16/2006	1	COUNCIL PRESIDENT	Signed
10/5/2006	1	CITY ATTORNEY	Reviewed and Approved
10/5/2006	1	Dev Drafter	Sent to Clerk's Office for Council
10/4/2006	1	Dev Drafter	Sent for Approval
10/4/2006	1	Auditor Reviewer	Reviewed and Approved
10/4/2006	1	CITY AUDITOR	Reviewed and Approved
10/4/2006	1	Dev Drafter	Sent for Approval
10/3/2006	1	Dev Drafter	Sent for Approval
10/3/2006	1	Finance Reviewer	Reviewed and Approved
10/3/2006	1	Finance Reviewer	Reviewed and Approved
10/3/2006	1	FINANCE DIRECTOR	Reviewed and Approved
10/2/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
9/29/2006	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND:
This legislation authorizes the transfer of $100,000 within the CDBG Fund and authorizes the Director of the Department of Development to enter into contract with the Economic and Community Development Institute (ECDI) for administration of the Microenterprise Revolving Loan Program. ECDI administered the economic development microenterprise loan program from July 1, 2005 through June 30, 2006.

ECDI 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 so that the contract with the Economic and Community Development Institute can be executed immediately.

FISCAL IMPACT:
This legislation authorizes the transfer and expenditure of $100,000 within the CDBG Fund.



Title

To authorize the transfer of $100,000 within the CDBG Fund; to authorize the Director of the Department of Development to enter into a contract with the Economic and Community Development Institute for administration of the Microenterprise Revolving Loan Program; to authorize the expenditure of $100,000 from the CDBG Fund; and to declare an emergency. ($100,000.00)



Body

WHEREAS; small businesses are essential to the growth of Columbus; and

WHEREAS, micro lending is an opportunity for individuals to start or expand their small businesses in the City of Columbus; and

WHEREAS, the Economic and Community Development Institute has over eight (8) years experience administering micro-loan programs in other localities; and

WHEREAS, ECDI will partner with non-profit groups to assist with the training and technical assistance portion of the Microenterprise Revolving Loan Program; and

WHEREAS, emergency act...