title
PROPOSED CONTRACT
Department(s): Bureau of Economic Development
Vendor: Women’s Business Development Center, Chicago, Illinois
Request: Authorization for the Chief Procurement Officer to enter into and execute
Good(s) or Service(s): Cook County Cannabis Business Development Fund - Pilot Program Administrator
Contract Value: $338,757.46
Contract period: 3/1 /2024 - 5/31/2025 with two (2) one (1) year renewals
Potential Fiscal Year Budget Impact: FY 2024 $338,757.46
Accounts: 11287.1027.39007.520830.00000.00000
Contract Number(s): 2419-01041
Concurrences:
The Contract Specific Goal set on this contract is Zero.
The Chief Procurement Officer concurs.
Summary: The Bureau of Economic Development requests authorization for the Chief Procurement Officer to enter into and execute a contract with the Women’s Business Development Center as a Pilot Program Administrator for the Cook County Cannabis Business Development Fund.
In October 2021, The Cook County Board of Commissioners passed Resolution 21-5542, creating a special purpose fund for Equity and Inclusion (“Equity Fund”) dedicated to addressing historical disparities and disinvestment in communities that are marginalized or have experienced other social and economic disparities. Cook County has allocated four (4) million dollars in Equity Funds to launch and operate a grant program for cannabis-related businesses owned and operated by Social Equity Applicants, as defined under the Illinois Cannabis Regulation and Tax Act.
The Cook County Bureau of Economic Development (“BED”) will use the funds to establish and administer the Cook County Cannabis Business Development Fund - Pilot Program (“CBD Fund”). The grant funds will be available to Social Equity Applicants who are licensed to own and operate a cannabis craft grow, infuser, transportation and/or dispensary business in Cook County. Social Equity Applicants can apply for a grant up to $100,000 or an alternative amount subject to market conditions, that Cook County approves, which may be used for the purpose of owning and operating a cannabis-related business, including as a craft grower, infuser, transportation and/or dispensary business.
The Bureau of Economic Development does not currently have the expertise or capacity to administer a grant program related to cannabis and has identified the Women’s Business Development Center (“WBDC:) to serve as the fiscal agent, project manager and Grant Administrator for this program at the direction of BED. WBDC’s responsibilities will include the following:
• Select, manage, compensate, and ensure the performance of any partners or subcontractors that it engages to deliver the services that are core to this initiative.
• Create an application, application review process, and applicant selection process.
• Manage application submissions, review applicants for eligibility, evaluate applications based on approved criteria, and recommend grant awardees for approval and sign-off by BED.
• Administer distribution of funds to grant recipients.
• Lead program development, management, and grant administration meetings with BED to:
• Discuss eligibility verification, selection, and prioritization of the applicant pool and operate as the primary administrator of the grant program for County stakeholders and small businesses.
• Communicate and document key information on program milestones, implementation, finances, recordkeeping, and compliance with State of Illinois regulations and requirements.
This is a Sole Source Procurement pursuant to Section 34-139 of the Cook County Procurement Code.
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