Special Notice / Hearing: None__
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Update on San Mateo County Strong Fund and Agreement with Renaissance Entrepreneurship Center to Administer Grants to Benefit San Mateo County Small Businesses Adversely Impacted by COVID-19
RECOMMENDATION:
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Recommendation to:
A) Receive an update on the San Mateo County Strong Fund from:
- Peggy Jensen, Deputy County Manager
- Rosanne Foust, SAMCEDA
- Don Cecil, SAMCEDA
B) Adopt a resolution authorizing and directing the County Manager, or the County Manager's designee, to execute an agreement for and on behalf of San Mateo County with Renaissance Entrepreneurship Center for administration and distribution of $200,000 in SMC Strong Funds to benefit small business owners who reside in certain target areas of the County and who are lower-income and adversely impacted by COVID-19.
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BACKGROUND:
On March 24, 2020, the Board of Supervisors approved the allocation of $3 million in Measure K funds to seed the "San Mateo County Strong Fund" ("SMC Strong Fund") a COVID-19 recovery fund. At that meeting, the Board dedicated $1 million of these SMC Strong funds to assist small businesses affected by COVID-19.
On April 14, 2020, staff presented to the Board a plan for the distribution of these funds as small business assistance grants. The plan included partnering with the SMCU Community Fund, a non-profit established by the San Mateo Credit Union, to provide grants to small businesses throughout San Mateo County that have been impacted by COVID-19. Through this program, a total of $3.5 million in SMC Strong funds, which included funds contributed by cities and foundations, was distributed to 350 small businesses.
While the program administered in coordination with the SMCU Community Fund was broadly successful, a review of program data revealed that relatively few small businesses in ce...
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