File #: 24-4654    Version: 1 Name: Increase to BED Small Business Budget for FY2025-26
Type: Resolution Status: Approved
File created: 8/18/2024 In control: Finance Committee
On agenda: 9/19/2024 Final action: 10/24/2024
Title: 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 ...
Sponsors: TONI PRECKWINKLE (President), FRANK J. AGUILAR, ALMA E. ANAYA, SCOTT R. BRITTON, JOHN P. DALEY, BRIDGET DEGNEN, BRIDGET GAINER, Monica Gordon, BILL LOWRY, DONNA MILLER, STANLEY MOORE, KEVIN B. MORRISON, ANTHONY J. QUEZADA, MICHAEL SCOTT JR., TARA S. STAMPS, MAGGIE TREVOR, JOSINA MORITA, SEAN M. MORRISON
Attachments: 1. 2024 year to date summary 7.2024
title
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 proce...

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