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Home My WebLink AboutCRA-R-06-0014 Back-upCity of Miami Marked Agenda SEOPW and OMNI Community Redevelopment Agencies Johnny L Winton, Chair Michelle Spence -Jones, Vice Chair Angel Gonzalez, Board Member Joe Sanchez, Board Member Tomas Regaled°, Board Member CRA OFRCEADDRESS: 49 NW 5th ST, SUITE 100, Miami, FL 33128 Phone: (305) 679-0800, Fax: (305) 679-6835 City Hu 3500 Pan American Drive Miami, FL 33133 www.ci.nrami.fl.us Thursday, March 9, 2006 10:00 AM CITY HALL, 3500 PAN AMERICAN DRIVE MIAMI, FLORIDA On the 9th day of March 2006, the Board of Directors of the Community Redevelopment Agency (CRA) for the Southeast Overtown/Park West and Omni Districts of the City of Miami met in regular session at the City of Miami City Hall, Miami, Florida. The meeting was called to order by Chair Winton at 10:34 a.m. and was adjourned at 11:38 a.m. ALSO PRESENT: Frank Rollason, Executive Director, CRA, City of Miami Jorge L Fernandez, General Counsel James Villacorta, Assistant General Counsel, CRA Priscilla A. Thompson, Clerk of the Board Pamela E. Burns, Assistant Clerk of the Board NON AGENDA ITEMS NA.1 0640406 CRA DISCUSSION A MOTION DIRECTING THE EXECUTIVE DIRECTOR OF THE CRA TO PREPARE A RESOLUTION, TO BE PRESENTED TO THE CRA BOARD AT THE NEXT AVAILABLE MEETING, AUTHORIZING THE EXECUTIVE DIRECTOR TO ISSUE A GRANT TO TOOLS FOR CHANGE IN AN AMOUNT NOT TO EXCEED $25,000 FOR THE PURPOSE OF TOOLS FOR CHANGE PROVIDING TECHNICAL ASSISTANCE IN THE FORM OF BUSINESS PLANS, ACCOUNTING PROCEDURES, AND BEST BUSINESS PRACTICES. MOVED: Michelle Spence.iones CilyafAaarei SECONDED: Angel Gonzalez Motion PASSED by the following vote. AYES: Board Member Angel Gonzalez, Chairman Johnny L Winton, Board Member Tomas Regaledo and Vice -Chair Michelle Spence -Jones ABSENT: Board Member Joe Sanchez Page 6 Prated ar3/IO2 6 APPROVED2/4 TOOLS FOR CHANGE 3rd AVENUE DEVELOPMENT PROJE0? TECHNICAL ASSISTANCE PROPOSAL March 2006 ORIGINAL I. EXECUTIVE SUMMARY Founded in 1989, the Black Economic Development Coalition, Inc. d/b/a Tools For Change, a non-profit 501(c) (3) organization, is committed to the economic development and empowerment of minority communities. From business development to financial and job training assistance; Tools For Change has been working for more than 15 years to provide future business men and women with the tools to create and maintain a prosperous business. Through various innovative business development programs Tools For Change aims to grow minority businesses and communities within South Florida. Tools For Change will be assisting people and businesses located within the boundaries of the Southeast Overtown/Park West CRA with technical assistance that will help them to obtain better markets for their services/products, contracts, access to loans to help the businesses to grow, with the primary goal of making the businesses successful and create employment opportunities. II. PROJECT OBJECTIVES Tools For Change will provide technical assistance in the areas of business plan preparation, accounting procedures, growth strategies, and basic best business practices for businesses existing in, relocating to or seeking to start a business within the boundaries of the Southeast Overtown/Park West CRA. The following is an outline of business development services. A. Identify Businesses • Collect "Business Owner Inquiries" • Identify businesses for best match of products/services for targeted area • Prepare feasibility summary per business type • Assist in negotiation of lease B. Assimilate and Review Organizational Documentation As Applicable • Registration of business with State and Local governments • Payment of sales tax • Payment of unemployment compensation tax (if applicable) • Workers compensation insurance • County and City (if applicable) occupational license and certificate of use • Occupational Safety and Health Act (OSHA) compliance (if applicable) • Commercial Liability Insurance • State licensure (if applicable) • Financial Statements, business and personal tax returns (where applicable), and organizational minutes of business (if applicable) (-0115 N.W. 7t11 Acciitii • ,11i.Lnhi, Florida 33127 • lcichhnnc: (.i(lii 751-ti934 i=n: i3(15 751 16]9 • uatis.iii.or_ C:\Documents and Settingslfrollason\Local Settings\Temporary Internet Files\OLK2401CRA Proposal 3rd Ave -Revised 33106.doc C. Business Plan Preparation 08/GINAL Business Plan Outline Executive Summary describing business, length of service, skills, short-term and long-term goals, and current financing or outstanding loans if any Marketing Plan description of who you will market products or services, which features and benefits will you focus on, how you arrive at pricing strategy, how much it will cost, and expected results Financing to include a current balance sheet and profit & loss statement D. Business Analysis • Overview of business infrastructure • Strategic plan to enhance product and/or services and targeted market(s) • Assist in compiling appropriate documentation for loans and/or contracts E. Internal Operating Procedures • Examine accounting procedures and provide suggestions for provider services for bookkeeping/accounting as applicable • Examine practicability of technology enhancements APPROVED 9/-- 6015 \'11. 7ih2i\cifi:� • \]i.tmi, I;:;:+:; .=!_' • 1(1c),14,i1c: I-ti')34 I1\: r3O5 751-16]9 • vrn,l.fl..nr� C:IDocuments and Settings\frollason\Local Settings\Temporary Internet Files\OLK2401CRA Proposal 3rd Ave -Revised 33106.doc ORIGINAL III. BUDGET Tools For Change (TFC) will bill at a rate of $75.00 an hour. TFC anticipates charging up to 334 hours. TFC request a deposit of $12,500. Monthly reports will be provided documenting hours used and the status of each client and the over all project. 1. BUDGET NARRATIVE FOR START-UP FUNDING Line Item Expense Amount • Identification Of Businesses • Feasibility Summary For Selection Of Business $12,500 • Collection Of Businesses Organizational Documentation 2. REQUESTED FUNDING Line Item Expense • Business Plan Preparation • Business Analysis • Contract Preparation Assistance • Loan Packaging • Accounting / Technology Assistance APPROVED j,F[uri br60'4 SUBTOTAL $12,500 Amount SUBTOTAL $12,500 TOTAL BUDGET $25,000 Of115 N.W. 71h A\CnuC • 11i,uni, ]lcni.ia 33127 * Tcicphonc: i3115i 75l 8934 1-,u: E305i 751-1619 • vk it.ttti.cor2, C:1Documents and Settings\froflason\Local Settings\Temporary Internet Files\OLK2401CRA Proposal 3rd Ave -Revised 33106.doc