Explanation
BACKGROUND:
The Department of Development seeks to renew a contract, Renewal No. 1, with Columbus Compact Corporation in an amount not to exceed $178,501.87 to administer small business advising services for the Downtown Ground Floor Growth Initiative (formerly the Downtown Commercial Marketplace program).
Original Contract $150,000.00 Ord. 2044-2023 PO406378
Renewal No. 1 $178,501.87
Total Contract Amount $328,501.87
The City of Columbus has successfully launched the Downtown Ground Floor Growth Initiative to support existing businesses relocating or expanding to downtown Columbus to stimulate downtown commercial activity. The business advisor assists the selected business in achieving financial success, measured through profit and loss statements through planning, counseling, and connecting businesses with other business development resources. The advisor is also be responsible for reaching out to neighboring small businesses to offer business counseling and to offer to connect the businesses to business development resources.
The Department utilized the Request for Proposals (RFP) process in accordance with City procurements standards to solicit proposals. Proposals were submitted in response to RFQ024861 in accordance with the relevant provisions of Chapter 329 of the Columbus City Codes. After careful review, the Proposal Evaluation Committee selected Columbus Compact Corporation to administer advising services to small businesses participating in the Downtown Commercial Marketplace Program. RFQ024861 authorized up to two renewals. This legislation seeks to renew this contract for the first time.
Columbus Compact aims to support businesses and economic development by creating assets. Currently, by providing small business development services for local business owners; and supporting central city revitalization by investing in the stabilization of real estate. Our overall objective is to assist in the capacity of Small Businesses (D...
Click here for full text