Palm Beach County agenda details small-business support agreements
Three agenda items cover TED Center, InclusiFi and the 1909 Foundation, with different approval statuses.
Key Takeaways
- •An executed $250,000 TED Center agreement is on the agenda for receipt and filing.
- •Staff recommends approval of $150,000 for InclusiFi services.
- •An executed $125,000 agreement with the 1909 Foundation is also presented for receipt and filing.
Palm Beach County commissioners will review three small-business support agreements on Nov. 10, including a proposed $150,000 award for InclusiFi and two agreements already executed under delegated authority.
According to the county agenda, the items list $250,000 for the TED Center, $150,000 for InclusiFi and $125,000 for the 1909 Foundation. The amounts support the organizations’ services and operating expenses; they are not promises of direct cash grants to every business seeking help.
The TED Center agreement uses federal Community Development Block Grant funds and is presented for receipt and filing. The county says it was executed by the deputy county administrator under delegated authority. Its requirements include 17 full-time equivalent jobs, assistance to 62 unduplicated businesses or entrepreneurs and 45 workshops. These are contractual targets, not reported results.
For InclusiFi, the county is asking commissioners to approve an agreement combining $100,000 in federal block grant funds with $50,000 in county ad valorem funds. The proposed funding would support consulting and financial assistance for existing and startup businesses and entrepreneurs.
The agenda requires InclusiFi to serve 150 unduplicated clients and obtain eight financial-institution loan approvals totaling at least $750,000. Businesses receiving assistance are to create 15 permanent full-time equivalent jobs.
The 1909 Foundation’s $125,000 federal block grant agreement has also been executed under delegated authority and is presented for receipt and filing. Its targets include eight full-time equivalent jobs, assistance and mentorship for 31 unduplicated clients, and 12 workshops.
The county says the 1909 program provides education, training, mentorship and workspace for small businesses and microenterprises. Its agenda defines a microenterprise for that item as a commercial enterprise with five or fewer employees.
Commissioners are scheduled to meet at 9:30 a.m. Nov. 10.
