Agenda

Return

C. 45

To:	Board of Supervisors
From:	Kathy Gallagher, Employment & Human Services Director
Date:	September 11, 2018

Contra

Costa

County

Subject:

Governor's Office of Business and Economic Development (GO-Biz) Grant Funding

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 09/11/2018

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Elaine Burres 608-4960

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: September 11, 2018
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE and AUTHORIZE the Employment and Human Services Director or designee, on behalf of the Workforce Development Board, Small Business Development Center, to apply for and accept grant funding from the Governor's Office of Business and Development (GO-Biz), in an amount not to exceed $62,500 for the Capital Infusion Program for the period October 1, 2018 through September 30, 2019.

FISCAL IMPACT:

County to receive an amount not to exceed $62,500 from GO-Biz. Funding is 100% from the State, with a required 1:1 County match of $62,500, which is budgeted for.

BACKGROUND:

The Workforce Development Board, Small Business Development Center, delivers and participates in Access to Capital trainings, and invests in partnerships with the community-based organizations and financial institutions to develop strong referral systems. The mission of the Small Business Development Center and GO-Biz is to bolster and strengthen the State economy and workforce.

BACKGROUND: (CONT'D)

The purpose of this grant is to assist small businesses and entrepreneurs navigate the financial landscape and successfully access funding needed to operate and/or expand their businesses. Challenges in accessing capital funding remain a barrier to growth for the State's small business base. Grant funds will be used to provide business consulting and funding infusion.

CONSEQUENCE OF NEGATIVE ACTION:

Current and aspiring business owners in Contra Costa County would not receive Small Business Development Center services and training to assist them in accessing capital funding.