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File #: 20-837    Version: 1 Name:
Type: Resolution Status: Passed
File created: 11/3/2020 Departments: COUNTY MANAGER
On agenda: 11/10/2020 Final action: 11/10/2020
Title: Adopt a resolution: A) Approving an allocation of $1,000,000 in Coronavirus Aid, Relief, and Economic Security (CARES) Act funds to SMCU Community Fund for administration and distribution to benefit small businesses located in San Mateo County that have been directly and adversely impacted by the COVID-19 public health emergency; and B) Authorizing and directing the County Manager, or designee, to negotiate and enter into, on behalf of the County, an agreement with the SMCU Community Fund for the administration and distribution of $1,000,000 in CARES Act Funds to benefit small businesses located in San Mateo County that have been directly and adversely impacted by the COVID-19 public health emergency and providing for a fee to the SMCU Community Fund not to exceed $75,000 for administration and expenses related to the grant program, for a term of November 10, 2020 through December 30, 2020.
Attachments: 1. 20201110_r_Small Business Grants Resolution November 2020.pdf, 2. PRESENTATION
Special Notice / Hearing: None__
Vote Required: Majority

To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Agreement with the SMCU Community Fund to Administer and Distribute $1,000,000 in CARES Act Funds to Assist Small Businesses Directly and Adversely Impacted by COVID-19

RECOMMENDATION:
title
Adopt a resolution:

A) Approving an allocation of $1,000,000 in Coronavirus Aid, Relief, and Economic Security (CARES) Act funds to SMCU Community Fund for administration and distribution to benefit small businesses located in San Mateo County that have been directly and adversely impacted by the COVID-19 public health emergency; and

B) Authorizing and directing the County Manager, or designee, to negotiate and enter into, on behalf of the County, an agreement with the SMCU Community Fund for the administration and distribution of $1,000,000 in CARES Act Funds to benefit small businesses located in San Mateo County that have been directly and adversely impacted by the COVID-19 public health emergency and providing for a fee to the SMCU Community Fund not to exceed $75,000 for administration and expenses related to the grant program, for a term of November 10, 2020 through December 30, 2020.

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BACKGROUND:
On March 24, 2020, the Board of Supervisors approved the allocation of $3,000,000 to seed the "San Mateo County Strong Fund" ("SMC Strong Fund") a COVID-19 recovery fund. At that meeting, the Board directed that $1,000,000 of these SMC Strong Funds would be used to assist San Mateo County small businesses adversely affected by COVID-19.

On April 14, 2020, the Board approved a countywide small business assistance program ("Small Business Assistance Program"). The program included partnering with the SMCU Community Fund ("Community Fund"), a non-profit entity established by the San Mateo Credit Union, to distribute $10,000 grants to small businesses located throughout San Mateo County that have been im...

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