Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into contract with The Central Ohio Minority Business Association (COMBA). COMBA is a non-profit agency founded in 1978. Through its programs and services, entrepreneurial development assistance and high-end business consulting is available to start-up and emerging, businesses. Services are provided at “no cost” to the client and all services are provided on a non-discriminatory basis.
During the last four years, COMBA has provided one-to-one consulting services to over 3500 existing and potential business persons. From these businesses, over 350 jobs were created and 650 jobs retained. The business owners were also awarded contracts in the amount of $25,000,000; and awarded loans in the amount of $8,644,087. Over 375 conferences and workshops were facilitated with over 8,014 participants in attendance.
This legislation authorizes the Director of the Department of Development to enter into contract with the Central Ohio Minority Business Association for $50,000.00 for administrative costs associated with increased employment opportunities and business growth in the City of Columbus.
FISCAL IMPACT: $50,000.00 has been allocated from the 2013 Jobs Growth Fund for this initiative.
Title
To authorize the Director of the Department of Development to enter into contract with the Central Ohio Minority Business Association for programs and services assisting start-up and emerging businesses; to authorize the appropriation of $50,000.00 from the 2013 Jobs Growth Fund to the Department of Development; to authorize the expenditure of $50,000.00 from the 2013 Jobs Growth Fund; and to declare an emergency. ($50,000.00)
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 ...
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