San Mateo County Logo
Share to Facebook Share to Twitter Bookmark and Share
File #: 20-656    Version: 1 Name:
Type: Resolution Status: Passed
File created: 9/10/2020 Departments: COUNTY MANAGER
On agenda: 9/15/2020 Final action: 9/15/2020
Title: Adopt a resolution authorizing an agreement with Renaissance Entrepreneurship Center for administration and distribution of 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.
Attachments: 1. 20200915_r_Revised Renaissance, 2. 20200915_a_Revised Renaissance.pdf
Special Notice / Hearing: None__
Vote Required: Majority

To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Agreement with Renaissance Entrepreneurship Center to Administer Grants to Benefit San Mateo County Small Businesses Adversely Impacted by COVID-19

RECOMMENDATION:
title
Adopt a resolution authorizing an agreement with Renaissance Entrepreneurship Center for administration and distribution of 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.

body
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 certain areas of the County, including East Palo Alto, North Fair Oaks, and Daly City, applied for SMC Strong small business grants.

Further, although the initial SMC Strong small business grant fund program included extensive outreach throughout the County and the application and informational materials were made available in multiple lan...

Click here for full text