Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to amend contract EL014322 with the Economic and Community Development Institute (ECDI) by extending the term of the contract to January, 31, 2015, an additional 12 months. The amendment will allow ECDI to continue providing the Microenterprise Loan Program.
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, low-income recipients and the working poor.
Emergency action is requested to ensure the uninterrupted continuation of the Microenterprise Revolving Loan Program with the Economic and Community Development Institute.
FISCAL IMPACT: No additional funding is required for this legislation.
Title
To authorize the Director of the Department of Development to amend the Microenterprise Loan Program contract with the Economic and Community Development Institute for the purpose of extending the contract for an additional year; and to declare an emergency.
Body
WHEREAS, this legislation authorizes the Director of the Department of Development to amend contract EL014322 with the Economic and Community Development Institute by extending the term of the contract to January, 31, 2015, an additional 12 months; and
WHEREAS, the amendment will allow the Economic and Community Development Institute to continue the operation of the Microenterprise Loan Program; and
WHEREAS, 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, low-income recipients and the...
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