Explanation
BACHGROUND: 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 to start-up and emerging businesses are provided to interested participants. Services are provided at “no cost” to the client and all services are provided on a non-discriminatory basis.
During the last five years, COMBA has provided one-to-one consulting services to over 4060 existing and potential business persons. From these businesses, over 432 jobs were created and 797 jobs retained. The business owners were also awarded contracts in the amount of $27,963,129; and awarded loans in the amount of $9,730,487. Over 480 conferences and workshops were facilitated with over 8,794 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 for administrative costs associated with increased employment opportunities and business growth in the City of Columbus.
FISCAL IMPACT: $50,000 has been allocated from the 2014 General Fund budget for this initiative.
Title
To authorize the Director of the Department of Development to enter into contract with the Central Ohio Minority Business Association; to authorize the expenditure of $50,000.00 from the General 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 businesses through its programs and services; and
WHEREAS, COMBA services are provided at “no cost” to the client and all services are provided on a non-discriminatory basis...
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