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Report regarding the consideration of a resolution appropriating $1,133,732 in grant funding from the U.S. Department of Commerce's Economic Development Administration, through budget amendment number 22.054, towards services provided by Renaissance Entrepreneurship Center located at the Economic Advancement Center in South San Francisco, and authorizing the City Manager to execute the administration of the grant. (Ernesto Lucero, Economic Development Coordinator)
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RECOMMENDATION
Recommendation
Staff recommends that the City Council adopt a resolution:
1. Approving a total appropriation of $1,133,732 in grant funding from the U.S. Department of Commerce's Economic Development Administration, through budget amendment number 22.054 to fund services provided by Renaissance Entrepreneurship Center located at the Economic Advancement Center in South San Francisco; and
2. Authorizing the City Manager to execute any agreements or documents pertaining to the administration of the grant funding.
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BACKGROUND
On August 4, 2021 staff applied for grant funding from the U.S. Department of Commerce's Economic Development Administration (EDA) that would support small business technical assistance services offered by Renaissance Entrepreneurship Center (Renaissance) at the Economic Advancement Center (EAC) in South San Francisco.
The competitive grant derives from American Rescue Plan funds that were distributed to the EDA Economic Adjustment Assistance (EAA) Program.
On March 11, 2021, President Joseph R. Biden signed the American Rescue Plan into law. This legislation was designed to enable all Americans to respond to and recover from the impacts of COVID-19. Under the American Rescue Plan, EDA was allocated $3 billion in supplemental funding to assist communities nationwide in their efforts to build back better by accelerating the economic recovery from the coronavirus pandemic and building local economies that will be resilient to future economic sh...
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