NOVEMBER 21, 2019 - Denver

[Pages:21]BUSINESS IMPACT OPPORTUNITY FUND BIDDERS CONFERENCE

NOVEMBER 21, 2019

WELCOME

TURID NAGEL-CASEBOLT Business Development

MEET THE TEAM

JOANNE GREEK | BUSINESS DEVELOPMENT REPRESENTATIVE MATTHEW KARNES| FINANCE DIRECTOR LISA VALDEZ | CONTRACT ADMINISTRATOR LISA RATHER | CONTRACT ADMINISTRATOR

RFP OVERVIEW

JOANNE GREEK Business Development Representative

RFP OVERVIEW

? Piloted BIO Fund program in 2019 in Globeville, Elyria, Swansea, Northeast Park Hill, Cole and Clayton neighborhoods

? Construction impact mitigation (Central 70, 39th Ave Greenway, Park Hill Detention) as our initial focus for grant assistance where businesses were experiencing greater than 20% revenue decline

? Awarded $33,000; 8 businesses awarded; Average grant award: $4,125

? BIO Fund will expand in 2020 to three statistical neighborhoods: East Colfax, Sun Valley and Valverde

? In this expansion, will consider supporting other non-construction related impacts such as the following:

Influx of higher-income residents for whom long-standing businesses have difficulty adjusting to new products/services demanded by these residents

Upward rent pressures and unstable leasing conditions such as month-to-month leases, increases >10% YOY

RFP OVERVIEW

? The Working Guide details the policy and procedures for the expansion program.

? "Infrastructure" in place but open to your proposed ideas

? Eligibility factors such as for-profit; activities legal under both state and federal law (no cannabis); 36 mos. operating in the neighborhood; 20% revenue decline YOY comparing previous year's quarter and current year's quarter; businesses earning less than $1m

? Priority factors such as construction adjacent; retail, hospitality, F&B or small manufacturing; legacy, neighborhood-serving business; $500k or less in annual revenue; 25 or fewer employees

? Factors that contribute to higher-ranked applications such as longevity & placemaking/neighborhood-serving, minority, women and/or vet owned, imminent construction impacts, lease instability

RFP OVERVIEW

? The BIO Fund program is turnkey and is an opportunity for the selected Contractor to incorporate the grant program into their existing business support programs as an additional tool

? Preference will go to proposers who can match with 100% in-kind grant administration and provide technical assistance and referrals to wrap-around services This will allow the City-provided portion of $100,000 to go directly to business grants Under this model, the preferred proposer will administer the BIO Fund grants as part of its existing business advisory and technical assistance services

? Greater preference will go to proposers who can grow the BIO Fund "corpus"

? The contract term will be March 1, 2020, through February 28, 2021

? Seeking partners with experience providing culturally relevant services to businesses in the identified neighborhoods

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