HomeMy WebLinkAbout2010-003-1185 - Small Business Incentive Program Application Day
City of Miami Gardens Agenda Cover Memo Council Meeting Date: January 13, 2010 Item Type: (Enter X in box) Resolution Ordinance Other X Fiscal Impact: (Enter X in box) Yes No Ordinance
Reading: (Enter X in box) 1st Reading 2nd Reading X Public Hearing: (Enter X in box) Yes No Yes No Funding Source: N/A Advertising Requirement: (Enter X in box) Yes No X Contract/P.O.
Required: (Enter X in box) Yes No RFP/RFQ/Bid #: X Sponsor Name Councilman Andre Williams Department: Mayor and Council Short Title: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI
GARDENS, FLORIDA, SUPPORTING A “SMALL BUSINESS INCENTIVE PROGRAM” APPLICATION DRIVE IN THE CITY OF MIAMI GARDENS; PROVIDING FOR THE ADOPTION OF REPRESENTATIONS; PROVIDING AN EFFECTIVE
DATE Staff Summary: Many businesses are suffering due to the economic downturn. Small businesses have been hardest hit due to their inability to obtain bank loans for operational needs.
The City of Miami Gardens Business Incentive Program was established by Council on July 23, 2008 2008 and to date the City has received forty (40) applications for assistance. Because
of these applications, the Community Development Department disbursed $349,000 worth of assistance to projects large in scope. While the program thus far has been utilized for high dollar
value façade improvements, the incentive program also provides for smaller financing amounts ($10,000 and under) for businesses with five employees for less. Funds received under this
program can be used for aesthetic improvements, new signage, space expansion, working capital, and inventory. To be eligible, the business must: · Meet financial underwriting criteria
· Be a for profit business · Be located in eligible census tract ITEM J-4) CONSENT AGENDA RESOLUTION Small Business Incentive Program
1515 NW 167 Street, Building 5 Suite 200 Miami Gardens, Florida 33169 · Hire low‐income individuals · Meet all applicable HUD Guidelines In an effort to promote, the availability of
“micro loans” under the existing program, Councilman Andre Williams is proposing a Small Business Incentive Program Application Day in the City of Miami Gardens. The event will be held
in the City Hall Council Chamber on Tuesday, January 26, 2010, from 8:00 AM – 12:00 PM. The purpose of this event will be to educate City of Miami Gardens small businesses about the
existence of the program and boost participation from smaller business owners in the City. Proposed Action: Councilman Andre Williams recommends approval of the attached resolution supporting
a Small Business Incentive Program Application day in the City of Miami Gardens. Attachment: Attachment A: Small Business Program Flyer
Are you a small business with 5 employees or less? Many businesses are suffering due to the economic downturn. Small businesses have been hardest hit due to their inability to obtain
bank loans for their operational needs. The City wants to help! If you are a small business* located in Miami Gardens, the City wants to help you during these difficult economic times.
Hiring local residents can now put dollars in your pocket! Funds received under this program can be used for: façade improvements, new signage, space expansion, working capital, and
inventory. CITY OF MIAMI GARDENS Financial assistance to small businesses BUSINESS INCENTIVE PROGRAM Eligible businesses may receive up to $10,000! *to be eligible, the business must:
• Meet financial underwriting criteria • Be a for profit business • Be located in eligible census tract • Hire low-income individuals • Meet all applicable HUD guidelines 1515 N.W. 167
Street Bldg. 5; Ste. # 200 Miami Gardens, FL. 33169 Antranette Pierre Phone: 305-622-8033 E-mail: apierre2@miamigardens-fl.gov CITY OF MIAMI GARDENS-COMMUNITY DEVELOPMENT DEPARTMENT
SMALL BUSINESS LOAN WORKSHOP & APPLICATION DRIVE TUESDAY, JANUARY 26, 2010 8:30 A.M. COUNCIL CHAMBERS To Register for the Workshop Please Contact