Explanation
This legislation authorizes the Director of the Department of Development to enter into a grant agreement with the North Market Development Authority (NMDA) to provide operating support to the organization due to lost revenue as a result of COVID-19.
City Council approved Ordinance 2538-2020 to provide assistance to small businesses and to utilize technology to re-imagine the point of sale of goods at the market beginning on March 1, 2020, and ending November 30, 2020 in an amount up to $500,000.00 as a result of COVID-19. It was determined during the agreement writing process that because the agreement is funded with CARES Act funds and CARES Act funds must be expended on services or goods ordered by December 30, 2020, the NMDA would not be able to implement the programs as originally planned.
Instead, the Department wishes to provide funding for CARES Act eligible operating support expenses beginning March 1, 2020.
Emergency legislation is requested in order to encumber funds in a timely manner so the NMDA can expend the funds before the end of the year.
Contract Compliance: the vendor number is 034112 and valid through 11/17/2022.
Fiscal Impact: Funding is provided to the City of Columbus from the Coronavirus Aid, Relief and Economic Security (CARES) Act passed by Congress and signed into law March 27, 2020, and available in the Department of Development’s CARES Act budget (fund 2207, subfund 220703).
Title
To authorize the Director of Development to execute a grant agreement with the North Market Development Authority for the purpose of providing operating support to the organization due to lost revenue as a result of COVID-19; to authorize an expenditure up to $500,000.00 from the CARES Act Fund; to authorize the payment of expenses starting March 1, 2020; and to declare an emergency. ($500,000.00)
Body
WHEREAS, the North Market is a long standing public market in Columbus that is an incubator and innovator of small businesses whil...
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