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1 RESOLUTION NO. i p' '1zn
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4 A RESOLUTION AUTHORIZING THE CITY MANAGER TO
5 SUBMIT AN APPLICATION ON BEHALF OF MINORITY
6 ECONOMIC DEVELOPMENT TO THE DEPARTMENT OF
7 COMMERCE AND THE AGENCY OF MINORITY BUSINESS
8 DEVELOPMENT FOR GRANT FUNDS TO OPERATE THE
9 MINORITY BUSINESS OPPORTUNITY COMMITTEE (MBOC)
10 PROGRAM.
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12 WHEREAS, the Department of Commerce, Minority Business Development
13 Agency (MDA), provides business development services to minority entrepreneurs through
14 different types of programs; and
15 WHEREAS, each program is designed to focus on the unique business problems of
16 a specific market; and
17 WHEREAS, Minority Business Development Agency programs form a national
18 business delivery network that addresses needs of minority entrepreneurs throughout the
19 United States; and
20 WHEREAS, the Minority Business Opportunity Committee is designed to provide
21 minority business owners with enhanced access to the marketplace by identifying marketing
22 and sales opportunities, financing resources, potential joint venture partners, and otherwise
23 assisting minority firms to position themselves for long -term growth; and
24 WHEREAS, non -profit organizations as well as state and local government entities,
25 American Indian Tribes, Colleges and Universities are eligible to operate Minority Business
26 Opportunity Committees.
27 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
28 OF THE CITY OF LITTLE ROCK, ARKANSAS:
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SECTION 1. The City Manager is authorized to apply for a grant to operate Minority
Business Opportunity Committee (MBOC) — Executive Order 11625 and 15 U.S.C. § 1512.
SECTION 2. Funding for a Minority Business Opportunity Committee is in the
range of $100,000 to $250,000 per year with the total project period for awards being three
(3) years.
SECTION 3. A matching requirement of 30% is required which will come from the
City's matching fund account 100 -8560.
SECTION 4. This resolution shall be in full force and effect from and after its
adoption.
Adopted: October 6, 1998
Attest:
o D .; RdoLaacAre
Robbie Hancock, City Clerk
Approved As To Form:
m
Thomas M. Carpenter, ' Attorney
Approved:
J Dailey, Mayor