TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., Executive Director
DATE: January 28, 2020
Title
Center For Technology Enterprise & Development, Inc. 4th Quarter and year-end FY 2018-19 Report
Body
Recommended Action:
Recommendation
Receive and file.
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Background:
The Delray Beach Community Redevelopment Agency awarded the Center for Technology Enterprise & Development, Inc. (TED Center) a one-time grant of $65,000 for FY 2018-2019. This award represents 10% of the TED Center’s $661,898 budget. As of the end of the year, the TED Center raised revenue of $661,898 and had a net income of $64,312.
The one-time grant was awarded to support three programs: Local Government Contracts/ Training, Small Business Certification, and Youth Entrepreneurship Training. Below are highlights and program snapshots along with year-end totals from the TED Center’s fourth quarter FY 2018-2019 Report for agreement ending September 30, 2019.
Program Snapshot:
Local Government Contracts/ Training Awarded: $37,500
|
Select Key Program Metrics |
Annual Total |
Year-End Totals |
|
Workshops |
4 |
6 |
|
Attendees/Participants |
45 |
93 |
Small Business Certification Awarded: $11,000
|
Select Key Program Metrics |
Annual Total |
Year-End Totals |
|
Workshops |
4 |
4 |
|
Attendees/Participants |
NO BASELINE |
100 |
|
Registered vendors and/or certified business owners |
12 |
8 (70%) |
Youth Entrepreneurship Training Awarded: $16,500
|
Select Key Program Metrics |
Annual Total |
Year-End Totals |
|
Workshops |
6 |
6 |
|
Attendees/Participants |
20 |
22 |
|
Youth Businesses Created |
NO BASELINE |
1 |
Attachments: Exhibit A: 4Q Report Package
CRA Attorney Review:
N/A
Finance Review:
Lori Hayward, Finance & Operations Director
Funding Source/Financial Impact:
Funding was allocated from CRA G/L# 7415 - Economic Development Incentives