TO: CRA Board of Commissioners
FROM: Alexina Jeannite, Grant Manager
THROUGH: Renée A. Jadusingh, Esq., CRA Executive Director
DATE: September 29, 2020
Title
FISCAL YEAR 2020-2021 CRA A-GUIDE FUNDING AGREEMENT - DELRAY BEACH CHAMBER OF COMMERCE
Body
Recommended Action:
Recommendation
Approve the A-GUIDE Funding Agreement with the Greater Delray Beach Chamber of Commerce in the amount of $40,000 for Fiscal Year 2020-2021.
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Background:
The Greater Delray Beach Chamber of Commerce (Chamber) applied for A-GUIDE Funding for Economic Development in the amount of $40,000 for fiscal year 2020-2021 for the Small Business Development Center Program. This represents 5% of the Chamber’s proposed budget of $860,926.
At the August 25, 2020 CRA Regular Board meeting, and the subsequent Workshop Meeting on September 14, 2020, the Board considered the funding request from the Chamber and supported the funding request in the amount of $40,000 for Program A.
Attached is the Funding Agreement outlining the Chamber’s reporting requirements and other responsibilities with regard to the funding provided. The Chamber will submit quarterly reports documenting the expenditure of funds and the progress towards the outcomes projected in the Goals and Outcomes Report and Budget for FY 2020-2021. Funds will be disbursed quarterly based on submittal of the associated quarterly reports.
Based on the Board’s feedback at the September 14, 2020 Workshop, regarding the A-GUIDE Grant Program, the following language was added to satisfy the board’s requirements.
In the event the CHAMBER does not expend funds in accordance with its approved A-GUIDE funding application, attached as Exhibit “B”, the CRA shall provide written notice to the CHAMBER of such deficiency(ies), and the CHAMBER shall have fourteen (14) days from receipt of the notice to cure the deficiency(ies) to the satisfaction of the CRA. Should the CHAMBER fail to cure such deficiency(ies) to the satisfaction of the CRA, the CRA shall be entitled to recoup the portion of the Funding Amount allocated and/or already disbursed to the CHAMBER, under the terms of this Agreement. The CRA shall have sole and absolute discretion with respect to the determination as to whether CHAMBER is expending funds in accordance with its approved A-GUIDE funding application.
Attachment(s): Exhibit A - FY 2020-2021 - Chamber A-GUIDE Funding Agreement
CRA Attorney Review:
The CRA Attorney has reviewed the Chamber Funding Agreement as to form and determined it to be acceptable.
Finance Review:
N/A
Funding Source/Financial Impact:
$40,000 allocated from General Ledger #7376 - A-GUIDE Funding.