Allocate $300K for District 5 small business grant program

AGENDA ITEM COVER PAGE File ID: #17327 Resolution Sponsored by: Commissioner Christine King A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), ESTABLISHING THE DISTRICT 5 SMALL BUSINESS SMALL GRANT PROGRAM, ATTACHED AND INCORPORATED AS EXHIBIT "A”; AUTHORIZING THE CITY MANAGER TO ALLOCATE FUNDS IN THE AMOUNT OF THREE HUNDRED THOUSAND DOLLARS ($300,000.00) FROM THE DISTRICT 5 COMMISSIONER'S SHARE OF MIAMI FOR EVERYONE FUNDS FOR SAID PURPOSE; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com City of Miami Legislation Resolution File Number: 17327 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), ESTABLISHING THE DISTRICT 5 SMALL BUSINESS SMALL GRANT PROGRAM, ATTACHED AND INCORPORATED AS EXHIBIT "A”; AUTHORIZING THE CITY MANAGER TO ALLOCATE FUNDS IN THE AMOUNT OF THREE HUNDRED THOUSAND DOLLARS ($300,000.00) FROM THE DISTRICT 5 COMMISSIONER'S SHARE OF MIAMI FOR EVERYONE FUNDS FOR SAID PURPOSE; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, there are multiple sources of financial assistance to businesses throughout the City of Miami (“City”); and WHEREAS, the need for financial assistance surpasses the current available resources and many small businesses located in District 5 of the City struggle to obtain financial assistance in part due to larger businesses taking large sums of the current financial assistance available; and WHEREAS, the City Commission wishes to create a program that provides financial assistance targeted at small businesses that have not yet received public financial assistance known as the “District 5 Small Business Grant Program” (“Program”) to begin in April of 2025; and WHEREAS, the Program will provide assistance in the form of a $10,000.00 grant to eligible small businesses located within District 5 of the City that are in need of financial assistance; and WHEREAS, the City Commission recommends the establishment of the Program, described in Exhibit “A,” attached and incorporated, with funds in the amount of Three Hundred Thousand Dollars ($300,000.00) allocated from District 5 Commissioner’s share of Miami For Everyone Program funds (“MFE Funds”);

NOW, THEREFORE,

BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is authorized1 to create the Program as described in Exhibit “A,” attached and incorporated. 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable City Charter and City Code provisions. Section 3. The City Manager is authorized to allocate MFE Funds in the amount of $300,000.00 to the Program to assist eligible businesses located within District 5 of the City. Section 4. The City Manager is further authorized2 to negotiate and execute any and all necessary documents, all in forms acceptable to the City Attorney, for said purpose. Section 5. This Resolution shall become effective immediately upon its adoption. APPROVED AS TO FORM AND CORRECTNESS: 2 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable City Charter and City Code provisions.