Explanation
BACKGROUND: This legislation authorizes the Director of Development to enter into contract with the Economic and Community Development Institute (ECDI) for the creation and implementation of the Workplace Incubator Network (WIN) Program. This program is designed for entrepreneurs in the ideation or start-up phase of their business. The program will also add value to established entrepreneurs seeking physical space for business expansion. Shared incubator space and shared services results in less overhead cost for the incubator member. The Workplace Incubator Network (WIN) will provide members access to the following types of services:
● shared, affordable office space with shared office amenities, such as wireless internet access,
Copy machines, printers, and fax machines (members would use their own computers and cell
phones
● opportunities to network and/or collaborate with other entrepreneurs
● access to affordable professional services, such as bookkeeping, human resources, graphic
design, web design, and social networking assistance, marketing and public relations, legal
services, real estate services
● an assigned business mentor who would provide personalized, one-on-one assistance
● unlimited access to ECDI's online classes and reduced rates on ECDI's in-person classes
● assess to a fast track business incubation loan product
● assistance accessing markets for procurement assistance or other channels
The Workplace Incubator Network (WIN) Program will be a two-phased program. The first phase will include facility space for a small number of start-up and existing businesses. This phase will function as a pilot program and allow the Economic and Community Development Institute to survey the needs of potential incubator tenants. The second phase will include a larger facility for entrepreneurs and a training facility.
FISCAL IMPACT: $125,000.00 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 a contract with the Economic and Community Development Institute (ECDI) for the purpose of implementing the Workplace Incubator Network (WIN) Program; to authorize the appropriation of $125,000.00 from the 2013 Jobs Growth Fund to the Department of Development; to authorize the expenditure of $125,000.00 from the 2013 Jobs Growth Fund; and to declare an emergency. ($125,000.00)
Body
WHEREAS, the Economic and Community Development Institute (ECDI) is a 501©(3) nonprofit economic development organization, a U.S. Small Business Administration intermediary micro lender, and U.S. Treasury designated Community Development Financial Institution (CDFI); and
WHEREAS, since 2004, ECDI has made $12.3 million in loans to over 500 local, small businesses in Ohio, creating or retaining over 3000 jobs; and
WHEREAS, ECDI partnered with the Department of Development, in 2005, to administer a microloan fund and provide technical assistance to the small business community; and
WHEREAS, ECDI continues to partner with the Department of Development in the administration of the microloan program; and
WHEREAS, ECDI plans to create the Workplace Incubator Network (WIN) Program to provide assistance to entrepreneurs in the ideation or start-up phase of their business; and
WHEREAS, the Workplace Incubator Network (WIN) Program will provide network and support services to entrepreneur and small business; and
WHEREAS, the City of Columbus and the Department of Development desires to assist the Economic and Community Development Institute in the implementation of the Workplace Incubator Network (WIN) Program; and
WHEREAS, emergency action is requested to allow the Economic Community Development Institute to implement the necessary programs and procedures for the Workplace Incubator Network (WIN) Program without delay; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to enter into contract with the Economic and Community Development Institute to allow program services to begin in a timely manner, thereby preserving the public health, peace, property, safety and welfare; Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Development Director is hereby authorized to enter into contract with the Economic and Community Development Institute for the purpose of supporting the Workplace Incubator Network (WIN) Program.
Section 2. That from the unappropriated monies in the Job Growth Fund, Fund 015, and from all monies estimated to come into said Fund from any and all sources for the period ending December 31, 2013, the sum of $125,000.00 is hereby appropriated to the Department of Development, Division No. 44-02, Object Level One 03, Object Level Three 3337, OCA Code 440215.
Section 3. That for the purpose stated in Section 1, the expenditure of $125,000.00 or so much thereof as may be necessary, be and is hereby authorized to be expended from the Development Department, Economic Development Division, Division No. 44-02, Jobs Growth Fund, Fund 015, Object Level One-03, Object Level Three-3337, OCA Code 440215.
Section 4. That this contract is awarded pursuant to Section 329.15 of the Columbus City Codes, 1959 as amended.
Section 5. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
Section 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.