HomeMy WebLinkAboutSummary FormDate: 4/27/2006
AGENDA ITEM SUMMARY FORM
FILE ID: b ti dal 0
Requesting Department: Community Development
Commission Meeting Date: 5/212006 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: TRANSFERRING FUNDS FROM NANA
Purpose of Item:
AUTHORIZING THE TRANSFER OF COMMUNITY DEVELOPMENT GRANT ("CDBG") FUNDS, IN
THE TOTAL AMOUNT OF $100,000, FROM NEIGHBORS AND NEIGHBORS ASSOCIATION, INC.
("NANA"); ALLOCATING SAID FUNDS, TO THE BUSINESSES/BUSINESS OWNERS
("ENTITIES"), SPECIFIED IN "ATTACHMENT A", ATTACHED AND INCORPORATED, TO
PROVIDE ECONOMIC DEVELOPMENT ACTIVITIES UNDER THE MICRO- ENTERPRISE
ASSISTANCE GRANT PROGRAM; AUTHORIZING THE CITY MANAGER TO EXECUTE THE
NECESSARY DOCUMENT(S), IN SUBSTANTIALLY THE ATTACHED FORM(S), WITH SAID
ENTITIES, FOR SAID PURPOSES
Background Information:
Pursuant to Resolution No. 03-0713, adopted June 24, 2003, the City Commission approved
allocating the amount of $100,000 to NANA to assist twenty small businesses
NANA has qualified via the Small Business Loan applications the entities specified in Attachment "A"
The Administration is recommending the transfer of funds in the amount of $100,000 from NANA to
those entities specified is said attachment
Each entity will be awarded a grant in the amount of $5,000 to provide economic development
activities
Said funds will be utilized for working capital, equipment, inventory, fixtures and salaries
Budqet Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Dept. D;
Chief
City anag
Final Approvals
(SIGN AND DATE1