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PROPOSED CONTRACT AMENDMENT
Department(s): Bureau of Economic Development
Vendor: Women's Business Development Center, Chicago Illinois
Request: Authorization for the Chief Procurement Officer to renew and increase contract
Good(s) or Service(s): Grant Administrator for Cook County Cannabis Development Fund
Original Contract Period: 3/1/2024 - 5/31/2025, [with two (2), one (1) year renewal options
Proposed Amendment Type: Renewal and Increase
Proposed Contract Period: 6/1/2025 - 5/31/2026
Total Current Contract Amount Authority: $4,000,000.00
Original Approval (Board or Procurement): Board, 3/14/2024, $338,757.46
Increase Requested: $1,500,000
Previous Board Increase(s): 6/13/24, 3,661,242.54
Previous Chief Procurement Officer Increase(s): N/A
Previous Board Renewals: N/A
Previous Chief Procurement Officer Renewals: N/A
Previous Board Extension(s): N/A
Previous Chief Procurement Officer Extension(s): N/A
Contract Utilization: The Contract Specific goal set on this Contract is Zero.
Potential Fiscal Impact: FY 2025 $1,300,000, FY 2026 $200,000
Accounts: 11287.1027.39007.520830.00000.00000
Contract Number(s): 2419-01041
Summary: This increase and first of two (2), one (1) year renewal options will allow the Bureau of Economic Development to continue to receive services from the Grant Administrator for Cook County Cannabis Development Fund.
Exhibit 1, item G in the original contract states "If additional funding is allocated to the CBD Fund in future years, WBDC's services agreement with Cook County may be renewed. The scope of work for the renewal will build off of this scope of work for the pilot round of CBD Fund grants and be scaled according to the specific parameters of the new round of grants to be awarded."
The fund received $1.5M in additional funds from the Cook County Equity Fund for FY25. There are two elements of the revised scope. The majority of funds will be award...
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