Agenda - 11-01-2000-8g - Laserfiche WebLink

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'tI ORANGE COUNTY BOARD OF COMMISSIONERS ACTION AGENDA ITEM ABSTRACT Meeting Date: November 1, 2000 Action Agen a Item No. - SUBJECT: Contract Renewal for 2000-01 with Small Business and Technology Development Center DEPARTMENT: Economic Development PUBLIC HEARING: (Y/N) No ATTACHMENT(S): INFORMATION CONTACT: SBTDC Contract Dianne Reid, ext 2325 TELEPHONE NUMBERS: Hillsborough 732-8181 Chapel Hill 9fi8-4501 Durham 688-7331 Mebane 33fi-227-2031 PURP05E: The purpose of this contract is to continue support of small business development as stated in the Economic Development Strategic Plan as adopted May 14, 1996. BACKGROUND: The Orange County Economic Development Strategic Plan focuses on providing assistance to small business in the county, including establishing a small business loan program. The Small Business and Technology Development Center (SBTDC) provides significant services to local businesses. The proposed contract is for $10,000 to be paid in two installments of $5,000 each. The first is to be paid on or about November 30, 2000, and the second an or about April 30, 2001. This is a continuation of the contract Orange County has had with the SBTDC since 1990. During 1999, two hundred sixty (260) Orange County business owners and prospective business owners received business counseling from the SBTDC regional office in Chapel Hill. Clients receiving assistance included residents of Carrboro, Cedar Grove, Efland, Hillsborough and Raugement, as well as residents of Chapel Hill. In the final two quarters of 1999, the regional SBTDC assisted small business clients in obtaining over $1.47 million in financing, resulting in the creation or retention of 34 full time jobs and 52 part time jobs. With the implementation this year of the Orange County Small Business Loan Program, the SBTDC role in assisting businesses in the county will be magnified. SBTDC counselors will assist potential loan pool clients in preparing business plans and will work closely with staff of the county's Economic Development Commission to make potential borrowers and sources of referrals aware of the new program. FINANCIAL IMPACT: The annual budget for the Economic Development Commission approved for Fiscal Year 2000-01 includes $10,000 for professional contract services for this contract. RECOMMENDATION(S): The Manager recommends that the Board approve the contract and authorize the County Manager to sign subject to final review by staff and the County Attorney.