DATE: July 18, 2023
TO: Board of Supervisors
SUBMITTED BY: Paul Nerland, County Administrative Officer
SUBJECT: State Local Fiscal Recovery Funds, Subrecipient Agreement with Fresno Community Development Financial Institution DBA Access Plus Capital
RECOMMENDED ACTION(S):
TITLE
Approve and authorize the Chairman to execute Subrecipient Agreement for American Rescue Plan Act - State Local Fiscal Recovery Funds (ARPA-SLFRF) with Fresno Community Development Financial Institution, DBA Access Plus Capital, to fund technical and financial assistance for small businesses and startups in rural communities that faced a disproportionate negative impact due to the COVID-19 pandemic, total not to exceed $200,000.
REPORT
Approval of the recommended action will allocate $200,000 of ARPA-SLFRF to Fresno Community Development Financial Institution DBA Access Plus Capital (Access Plus Capital) to fund the provision of technical assistance and subsequent grants for at least 35 small business start-ups and emerging businesses. This item is countywide.
ALTERNATIVE ACTION(S):
Should your Board not approve the recommended action, SLFRF would not become available to Access Plus Capital to fund financial and technical assistance to small businesses and startups in rural communities of Fresno County.
FISCAL IMPACT:
There is no increase in Net County Cost associated with recommended action. Costs for the recommended action will be fully funded with ARPA-SLFRF. Sufficient appropriations are included in the Auditor-Controller/Treasurer-Tax Collector's FY 2023-24 Recommended Budget Org. 1033 - Disaster Claiming, Fund 0026, Subclass 91021, Account 7845.
DISCUSSION:
The United States Department of the Treasury's (Treasury) Title 31, Code of Federal Regulations, Part 35 Coronavirus SLFRF Interim Final Rule ("Interim Final Rule") and Final Rule ("Final Rule") establish a framework for determining the types of programs and services that are eligible under the ARPA. SLFRF may be used ...
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