Label
Minority Assistance Business Center
Office of Diversity & Inclusion
Tyrome Alexander/Lacy DeBerry (x1031)
Revised
Title
Authorizing the Mayor to enter into a funding agreement for the provision of the City's portion in participation in the Toledo Minority Business Assistance Center (MBAC) programming; authorizing the expenditure of $20,000 from the General Fund; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance requests authorization for the provision of the city's portion for providing support to the Toledo Minority Business Assistance Center. The support from the City has included active participation and advertisement on minority business technical assistance boards, working as a partner on economic development outreach program, creating supplier diversity program and financial support for program development.
The Toledo MBAC is charged with servicing minority and disadvantaged businesses with free professional consulting, addressing financial literacy and assisting small business obtain contract opportunities. A primary objective of the program is to identify emerging businesses and cultivate their growth and sustainability ultimately strengthening the minority business community, support job creation and further economic growth in Ohio. Professional MBAC staff work with owners of existing businesses, start-ups, certified Minority Business Enterprises (MBEs), certified Encouraging Diversity Growth and Equity (EDGE) and socially and economically-disadvantaged businesses. MBEs are defined as businesses that are at least 51 percent or more owned and managed by those individuals who are African American, Hispanic, Native American or Asian American. EDGE certified businesses are defined as enterprises that are owned by economically and socially disadvantaged entrepreneurs.
Over the last 10 years, the program has been housed at different host sites that have had a variety of programs, some which have had a minority business focu...
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