Title
RESOLUTION NO. 24R-08-167: A RESOLUTION OF THE CITY OF LAUDERHILL APPROVING THE MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN THE NATIONAL LEAGUE OF CITIES INSTITUTE AND THE CITY OF LAUDERHILL PROVIDING FOR A $15,000.00 GRANT FROM THE CITY INCLUSIVE ENTREPRENEURSHIP (CIE) PROGRAM TO SUPPORT THE IMPLEMENTATION OF ITS MICROLENDING COMMITMENT; APPROVING THE EXTENSION OF TIME FOR THE GRANT PERIOD; PROVIDING TERMS AND CONDITIONS; PROVIDING FOR AN EFFECTIVE DATE (REQUESTED BY COMMISSIONER MELISSA P. DUNN).
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Request Action:
Approve receipt of $15,000 grant from NLC for a microlending program retroactively and approve the extension of the grant time frame.
Need Summary Explanation/ Background:
It is anticipated that a Kiva Hub can be established to provide microlending and The Urban League has agreed to work with the City of Lauderhill Health and Prosperity Partnership (LHPP) to establish a KIVA Hub to assist in providing micro loans to small businesses. This grant could be sued for that purpose if the KIVA hub is approved and established. This also extends the grant time frame.
Cost Summary/ Fiscal Impact:
Accept receipt of grant in the amount of $15,000 and approve extension of grant time frame.
Attachments:
MOU with NLC for grant monies and extension.