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 Directly and Adversely Impacted by COVID-19
RECOMMENDATION:
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Adopt a resolution:
A) Approving an allocation of $2,500,000 in Coronavirus Aid, Relief, and Economic Security (CARES) Act funds to Renaissance Entrepreneurship Center for administration and distribution to benefit small business owners who reside in certain target areas of the County and who are lower-income and directly and adversely impacted by the COVID-19 public health emergency; and
B) Authorizing directing the County Manager, or designee, to negotiate an agreement with Renaissance Entrepreneurship Center for administration and distribution of $2,500,000 in CARES Act funds to benefit small business owners who reside in certain target areas of the County and who are lower-income and directly and adversely impacted by the COVID-19 public health emergency, and providing for a fee to Renaissance Entrepreneurship Center not to exceed $500,000 for administration and expenses related to the grant program, for a term of October 20, 2020 through December 30, 2020.
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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...
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