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Resolution 2024-31
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Resolution 2024-31
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Last modified
4/2/2025 1:48:06 PM
Creation date
8/21/2024 11:48:31 AM
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Template:
City Council Records
Also Known As (aka)
Economic Development Services Amended and Restated Agreement with Boulder SBDC Foundation for Services to Benefit the Louisville Business Community.
Meeting Date
8/6/2024
Doc Type
Resolution
Ord/Res - Year
2024
Ord/Res - Number
31
Cross-Reference
Boulder SBDC
Boulder Small Business Development Center
Quality Check
8/21/2024
Supplemental fields
Parties Involved
Boulder SBDC Foundation
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EXHIBIT A <br />SCOPE OF SERVICES <br />In cooperation, the City of Lafayette and City of Louisville seek to establish satellite support <br />programs with the Boulder Small Business Development Center (SBDC). The Boulder SBDC will <br />provide programs and services that enhance and supplement the cities' current economic <br />development efforts and goals without duplicating existing efforts. The satellite support programs <br />defined in this Scope of Services include: 1) one-on-one consulting, 2) outreach & marketing, 3) <br />workshops and training programs, and 4) management and implementation. Services will be <br />provided on an annual basis (January 1 — December 31), subject to consideration and renewal of <br />the Professional Services Agreement by each community. <br />Satellite Support Programs Defined: <br />One -on -One Consulting: For each City, the SBDC will provide 300 hours of consulting per <br />satellite program operated. At an average of 25 hours/month, that would include Initial <br />(Discovery) Meetings to assess the business' needs and preferences and match -up relevant <br />expertise, as well as follow-on sessions to deliver targeted assistance that helps the businesses to <br />move forward. <br />Consulting topics may consist of, but are not limited to, start-up issues; development of a business <br />plan (or other planning format) for start-up, growth, and financing; development of marketing <br />strategies and action plans; development and understanding of financial projections and access to <br />capital; and development of business management skills and processes. For businesses in the <br />advanced industries, on a limited basis, assistance may include strategic research & analysis, <br />technology commercialization, support for innovation grants and contract opportunities as well as <br />access to other capital. For Latinx entrepreneurs and businesses, bilingual assistance may include <br />business planning, access to capital, and all of the other topics previously listed. <br />The SBDC has built a network of professional service providers, entrepreneurs, and other business <br />assistance and government contacts that further assist our small businesses, especially when the <br />scope of the request is outside the SBDC mission or resource constraints. Our network of <br />commercial banks and other financing sources such as micro lending institutions (Colorado <br />Enterprise Fund, Colorado Lending Source and others) leads to warm introductions for financial <br />accessibility. SBDC specialists, in collaboration with lender representatives, meet with our small <br />business clients to explain the financing landscape, and if appropriate, provide an introduction for <br />further conversation. <br />The Boulder SBDC will not establish a permanent office in either Lafayette or Louisville to <br />provide these services. Consultants will use a combination of virtual and in -person sessions; the <br />Cities, at no -cost to the SBDC, will provide short-term, temporary meeting space at city facilities <br />on an as -needed basis so that the SBDC can have a community presence. <br />Annual cost per satellite program: $22,500 <br />6 <br />2025 SBDC Economic Development Contract <br />
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