To: Board of Supervisors of Sonoma County
Department or Agency Name(s): Economic Development Board
Staff Name and Phone Number: Ethan Brown 565-7589
Vote Requirement: Majority
Supervisorial District(s): Countywide
Title:
Title
Agreement Amendment with Working Solutions CDFI for Business Stabilization Grants
End
Recommended Action:
Recommended action
Authorize the Economic Development Board Department Head to execute an agreement amendment with Working Solutions CDFI, increasing the agreement amount to $2,503,057.
end
Executive Summary:
In September, 2020, the County implemented a strategy for deploying Coronavirus Aid, Relief and Economic Security (CARES) Act Relief Funds to support community needs. That month, the board allocated $2.5 million to the Economic Development Board to be used to help alleviate the economic impact COVID-19 has had on Sonoma County’s businesses.
Discussion:
To efficiently distribute the federal funds before the end of 2020, as required, the Economic Development Board contracted with Working Solutions CDFI to act as Grant Administrator. The scope of this contract included the development of criteria, an online application portal in English and Spanish, identification of awardees based on eligibility and criteria, funding of awards, and handling of all tax documents.
For this work, Working Solutions was paid a fee of $158,057 to administer and deploy the grant funds, which left an available balance of $2,341,943. This figure was not perfectly divisible by the available grant tier amounts. In order to avoid having a leftover balance of $4,443, the Economic Development Board is requesting to increase the agreement by $3,057 in non-CARES Act funds in order to cover the cost of one additional $7,500 grant, thereby reconciling the amount allotted for the program with the amount due to Working Solutions.
Prior Board Actions:
09/01/2020 - Delegated Authority to the Economic Development Board to enter into agreements necessary to utilize $2.5 million to support small businesses.
Fiscal Summary
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Expenditures |
FY 20-21 Adopted |
FY21-22 Projected |
FY 22-23 Projected |
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Budgeted Expenses |
3,057.00 |
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Additional Appropriation Requested |
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Total Expenditures |
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Funding Sources |
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General Fund/WA GF |
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State/Federal |
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Fees/Other |
3,057.00 |
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Use of Fund Balance |
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Contingencies |
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Total Sources |
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Narrative Explanation of Fiscal Impacts:
The Economic Development Board will use existing budget to cover the additional $3,057 in grants to Sonoma County small businesses.
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Staffing Impacts: |
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Position Title (Payroll Classification) |
Monthly Salary Range (A-I Step) |
Additions (Number) |
Deletions (Number) |
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Narrative Explanation of Staffing Impacts (If Required):
N/A
Attachments:
Agreement Amendment with Working Solutions CDFI
Related Items “On File” with the Clerk of the Board:
N/A