Explanation
BACKGROUND
This legislation authorizes the Director of Development to modify the contract with Next Street Financial LLC for Professional Economic Development Consultancy Services and authorizes an expenditure up to $155,000.00.
The modification shall add $155,000.00 to the original contract and modifications number 1 & number 2 to amend the scope of work and extend the original contract completion date.
Original contract amount $130,000 Ord. 2947-2018, PO149715
Modification No. 1 amount $ 60,000 Ord. 0177-2019, PO158542
Modification No. 2 amount $175,800 Ord. 1525-2019, PO180871
Modification No. 3 amount $155,000
Total contract amount $365,800
During Phase 1, the Economic Development Division worked with Next Street, local entrepreneurs, small business owners, and Entrepreneur Support Organizations (ESOs) to conduct research to assess the local small business ecosystem. The work spanned three distinct tracks of services that included: 1) Strategic Alignment and Engagement with a multi-stakeholder Advisory Committee; 2) Small Business and Entrepreneurial Ecosystem Analysis and Assessment; and 3) Capital Support Analysis. The Consultant provided baseline read-outs of each track thereby summarizing gaps, opportunities, insights, and observations gained from data analysis, interviews, and focus group meetings.
Phase 2 developed and finalized a formal “City-Sponsored” “Small Business Agenda, Framework, and Multi-Year Action and Implementation Plan” based on the findings and recommendations received from the Small Business Ecosystem Assessment in Phase 1.
During Phase 3, the Consultant, serving as a primary partner to the City of Columbus, will assist in implementing and executing on the Columbus Small Business Agenda via the Small Business Agenda Framework, strategy alignment and coordination, and other services. Additionally the Consultant, working with the City and its stakeholders, will assist in operationalizing the Small Business Agend...
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