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PROPOSED RESOLUTION
INCREASE THE COOK COUNTY SMALL BUSINESS SOURCE BUDGET TO SUPPORT CONTINUED PROGRAM OPERATION IN 2025 AND 2026
WHEREAS, on March 11, 2021, the federal government authorized the American Rescue Plan Act of 2021 (“ARPA”) which includes $1.9 trillion in federal stimulus funds to hasten the United States’ recovery from the economic and health effects caused by the COVID-19 pandemic; and
WHEREAS, specifically, the federal government has authorized and allocated a federal award of approximately $1,000,372,385B of ARPA funding to Cook County to assist the County in its recovery from the economic and health effects of COVID-19; and
WHEREAS, on June 24, 2021, the Cook County American Rescue Plan Act Framework (the “ARPA Framework”) was presented to the Cook County Board of Commissioners; and
WHEREAS, to effectuate the approach outlined in the ARPA Framework, the Cook County Board of Commissioners authorized the Chief Financial Officer and the Budget Director to expend a limited amount of ARPA funding via Resolution 21-3657 for the purpose of continuing and expanding existing County programs and initiatives, including any created under CRF, as well as for the purpose of building operational support capacity within County departments and offices to assist with managing the ARPA funded initiatives; and
WHEREAS, Resolution 22-0637 authorized the Chief Financial Officer, Budget Director, Chief Procurement Officer and applicable using agencies to issue grants, contracts and agreements for up to $100M in ARPA funding for Vital Community programs approved via Resolution 22-0637; and
WHEREAS, to further the Policy Roadmap Goal to pursue inclusive economic and community growth by supporting residents, growing businesses, attracting investment and nurturing talent, the Bureau of Economic Development (BED) has developed a menu of Vital Community programs and initiatives which have undergone review and approval through the Project Management Office process to utilize ARPA funding for such programs and initiatives pursuant to the issuance of grants, contracts and agreements; and
WHEREAS Resolution 22-2807 authorized the Chief of the Bureau of Economic Development to negotiate and enter into the various agreements that outline the specific metric and impact data, and compliance with all ARPA reporting and monitoring requirements related to launching seven (7) specific ARPA programs, including one with the Women’s Business Development Center to develop Cook County’s Small Business Agenda, which includes the Cook County Small Business Source (formerly the Small Business Assistance Program) in an aggregate amount of up to $15,700,000 for FY2022, FY2023 and FY 2024.
WHEREAS, Resolution 22-2807 outlined that the Cook County Small Business Source will support a coordinated network of business service organizations that provide one-on-one business advising, webinars and outreach activities for small businesses with less than 20 employees. The program will also include the equivalent of a one-stop shop” for businesses, development of parameters and guidelines for the forthcoming Small Business Grant Program(s), development of inclusive procurement strategies and other activities to assist businesses to continue to recover from COVID and foster resiliency in the post pandemic economy; and
WHEREAS, since September 2020 through May of 2024, The Source has served 21,000 businesses directly through one-on-one business advising and events; and
WHEREAS, The Source utilizes a network of 10-12 of the region’s leading business support organizations coupled annually with a cohort of an additional 20-40 small non-profit business-facing organizations to conduct outreach about the resources available; and
WHEREAS, program data shows that 94% of clients are microbusinesses (less than 10 employees), 60% identify as being owned by women and 79% identify as being owned by people of color; and
WHEREAS, the initial budget of up to $15,700,000 of ARPA supported the program in FY2022, FY2023 and FY2024; and
WHEREAS, to continue program operations through 2025 and 2026, BED seeks to provide up to $10,000,000 million of available ARPA funds; and
NOW, THEREFORE, BE IT RESOLVED, that the Cook County Board of Commissioners does hereby authorizes the Bureau Chief of BED or its designee to increase the budget of the Subrecipient Agreement with the Women’s Business Development Center in the amount of $10,000,000 to support one-on-one business advising, webinars and outreach activities for small businesses; continued program coordination, marketing, data management, development of parameters and guidelines for several initiatives, including any future grant programs, and development of an access to capital initiative to support supplier businesses, development of inclusive procurement strategies and other activities related to the Cook County Small Business Agenda and to support small business resiliency in the post COVID economic landscape; and
BE IT FURTHER RESOLVED, that funding for BED’s small business program shall be subject to the availability of funds from the United States Government and appropriation of funding by the Cook County Board of Commissioners.
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