HomeMy WebLinkAboutMINUTES - 10072003 - C81 .......................................................................................................-..............................................................
..... . .............
TO: BOARD OF SUPERVISORS
FROM: Dennis M. Barry, AICD
Community Development Director
DATE: October 7, 2003
SUBJECT: Contra Costa Economic Partnership Incubator Assistance
SPECIFIC REQUEST(S) OR RECOMMENDATIONS(S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
AUTHORIZE a commitment of$50,000 to the Contra Costa Economic Partnership for the
Bio-Tech small business incubator; and AUTHORIZE the Deputy Director—
Redevelopment to execute a contract with the Contra Costa Economic Partnership in an
amount not to exceed $50,000.
FISCAL IMPACT
No general funds involved. Allocation not to exceed $50,000 would be made from Fund
#111300, sub account 1596, a Special Revenue account which are available for economic
development, community development and housing purposes. Said funds have been
derived from various financial transactions in the past where the County engaged in one
time housing bond and industrial development bond refundings, asset sales, or
defeasances.
CONTINUED ON ATTACHMENT: X YES SIGNATURE:
RECOMMENDATION OF COUNTY ADMINISTRATOR 0ECOMMENqATION OF B R5
COMMITTEE APPROVE OTHER jj
SIGNATURE(S):
ACTION OF BOARD ONOMM 7, 2003 APPROVED AS RECOMMENDED x OTHER
VOTE OF SUPERVISORS
I HEREBY CERTIFY THAT THIS IS A
X UNANIMOUS (ABSENTN 0 N E TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE BOARD OF
SUPERVISORS ON THE DATE SHOWN.
Contact: Jim Kennedy
3-1255
orifi: Redevelopment
cc: County Administrator ATTESTEDXMBM 7.,2W3
County Counsel JOHN SWEETEN, CLERK OF THE
Auditor-Controller BOARD OF SUPERVISORS
AND T E COUNTY ADMINISTRATOR
via: Community Development
Contra Costa Economic Partnership BY 7�i
\\fs-cd\users$\lnoble\Personal\Bcard Orders and Greenies\BOARD.ccecon.incubator.10.03.doc
I
BACKGROUND/REASONS FOR RECOMMENDATIONS
Contra Costs Economic Partnership has the development of small business incubators
throughout the County as one of its highest priorities. In December, 1998 the Board of
Supervisors committed up to $100,000 over two years to the Economic Partnership for
its small business incubator program. The initial $50,000 was used to implement a
software incubator in Concord. More recently the Economic Partnership has been
wonting with the City of Richmond and other West County communities on a bio-tech
incubator. A site on the campus of Contra Costa College has been chosen. A $2.1
million grant from the federal Economic Development Administration (EDA) has been
secured. The EDA funds are being matched with a contribution from the City of
Richmond of$1.7 million, while the other West County cities have contributed
$350,000. The recommended amount of$50,000 represents the contribution of the
County on behalf of the unincorporated communities in West County.