Title
Corridors of Opportunity Business Opportunity Hubs
Action
Action:
A. Approve additional funding to implement recommendations associated with the Employment Study for the City's Corridors of Opportunity, comprised of $500,000 in project savings and $1,000,000 in interest earned on funds from the American Rescue Plan Act Fund,
B. Authorize the City Manager, or his designee, to negotiate and execute contracts with the following nonprofit organizations to provide workforce development and small business support through the Corridors of Opportunity Business Opportunity Hub Program:
- Latin American Chamber of Commerce of Charlotte (Albemarle) ($1,500,000)
- Hispanic Contractors Association of the Carolinas (North Graham/ North Tryon) ($730,000)
- Freedom Communities (Freedom-Wilkinson) ($599,506)
- LISC Charlotte (Beatties Ford) ($499,500)
- She Built This City (Sugar Creek) ($302,267)
- The NEO Foundation (West Boulevard) ($300,000), and
C. Authorize the City Manager, or his designee, to amend the contracts consistent with the purpose for which the contracts were approved,
D. Authorize the City Manager to negotiate and execute a contract with Schermbeck Consulting LLC dba Schermco for cohort project management for a term of three years, and
E. Adopt a budget ordinance appropriating $1,000,000 in interest income from the American Rescue Plan Act Fund to the General Capital Projects Fund.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Monica Holmes, Planning, Design & Development
Explanation
* The Corridors of Opportunity Business Opportunity Hub Program contracts local nonprofits to establish a physical office and/or training spaces to increase access to and utilization of the city's existing network of workforce development, career readiness, small business technical assistance, entrepreneurship support, and training resources for residents and businesses located in the six Corridors of Opportunity.
* The organizations will open and oper...
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