Share to Facebook Share to Twitter Bookmark and Share
File #: 18-0518 CRA    Version: 1 Name:
Type: CRA Report Status: Agenda Ready
File created: 1/3/2020 In control: Community Redevelopment Agency
On agenda: 1/28/2020 Final action:
Title: Center For Technology Enterprise & Development, Inc. 4th Quarter and year-end FY 2018-19 Report
Attachments: 1. Agenda Cover Report, 2. Exhibit A - 4Q Report Package
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.

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.

 

Body

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