Economic Vitality Committee Agenda and Packet 2021 10 22

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SUBJECT: ENGAGING SERVICES FOR BUSINESS SUPPORT WITH THE BOULDER SMALL BUSINESS DEVELOPMENT CENTER DATE: OCTOBER 22, 2021 PAGE 3 OF 3 • Provide a dedicated lead SBDC representative, who will assist the cities in crafting programming and directing business outreach and who will attend city events to promote the SBDC's services. • Conduct marketing and outreach through the SBDC channels as well as develop materials that can be sent through City business channels. • Implement programs and events in each satellite community, which will include total coordination by SBDC staff. • Facilitate specialized workshops and series for Louisville and Lafayette businesses, based on direction from the cities and assessment of needs based on business consulting. The cities would be able to annually program these dollars as new needs arise. Staff envisions that a service agreement would be developed, including this scope of work, as well as performance metrics the SBDC would be required to meet and report on annually. Each year a review would be conducted before the service agreement could be renewed to ensure the metrics are met and to incorporate any input on specific programming for the following year. The SBDC has proposed the scope of work would be performed for $50,000 each year, per community. Although staff recommends an annual agreement structure, it is also likely the establishment and impact of these services will take several years. It is recommended that the City would intend to fund this project for three years —totaling a $150,000 investment for Louisville. As City Council discussions around ARPA funding continue, staff also continues to review potential eligibility of projects for funding. At this time, staff believes a service agreement with the SBDC structured around business support and technical assistance would be an ARPA-eligible expense. However, if ARPA funding were invested elsewhere, staff still recommends determining an appropriate funding source that would allow the City to facilitate these identified business needs through SBDC services. If there is support of this initiative, the next step is for staff from Louisville and Lafayette to develop the form of an agreement for services, which would draw upon arrangements already in place with Boulder and Longmont but outline the priorities from our proposal. If an agreement for services is approved in 2021, it is feasible for Louisville businesses to begin benefitting from this programming in 2022. RECOMMENDATION: In support of small business needs resulting from the COVID-19 pandemic, staff recommends advancing a proposal from the Boulder Small Business Development Center into a service agreement for City Council consideration. Staff also seeks input from the Committee about the potential funding source for this arrangement. ATTACHMENTS: Attachment #1: Proposal, Boulder Small Business Development Center (SBDC) Louisville and Lafayette Satellite Support (dated September 8, 2021) Agenda Packet P. 19