Title
Consider/Discuss/Act on a Resolution Authorizing the Creation of a Tri-City Collin County Small Business Grant Program and Authorizing the City Manager to Create an Execute a Contract with National Council for Community Development, Inc. (NCCD) to Serve as the Third-Party Administrator for the Program; and Providing for an Effective Date
Summary
COUNCIL GOAL: Direction for Strategic & Economic Growth
MEETING DATE: June 23, 2020
DEPARTMENTS: City Manager's Office
McKinney Economic Development Corporation (MEDC)
CONTACT: Kim Flom, Assistant City Manager
Peter Tokar, MEDC Executive Director
REQUESTED ACTION: Resolution approval.
PROPOSED MOTION
"I move to approve the Resolution Authorizing the creation of a Tri-City Collin County Small Business Grant program and authorizing the City Manager to create a execute a contract with National Council for Community Development Council, Inc. (NCCDC) to serve as the third-party administrator for the program; and providing for an effective date."
ITEM SUMMARY:
* Consider a resolution authorizing the creation of the 'Allen, Frisco, McKinney/Tri-City Collin County Small Business Grant Program' and utilizing National Council for Community Development, Inc. (NCCD) as the third-party administrator to administer the program.
* Program proposed to utilize $5,000,000 of the $10,098,347.55 Collin County CARES Act Direct Allocation funds (50%).
BACKGROUND INFORMATION:
* Collin County received $171.4M in CARES Act Funding from the Department of the Treasury to provide ready funding to address unforeseen financial needs and risks created by the COVID-19 public health emergency.
o $50M Direct Cost Program allocated to cities based on Census population from COVID related costs ($10,098,347.55 allocated to McKinney).
o $45M - Emergency Housing and Living Program for the entire County, distributed through the cities of McKinney, Plano, Frisco and Allen ($30M initial funding with $15M in reserve)
o $5M for C...
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