The Hispanic Business Initiative Fund of Florida, Inc. (HBIF) was established in 1995. The program provides bilingual business technical assistance to Hispanic-American operated and owned businesses in the City of Orlando. The implementation of this initiative enhances opportunities for Hispanic entrepreneurs by providing them with the necessary tools to build successful enterprises. HBIF accomplishes this by matching Hispanic businesses with existing private and public technical programs and by providing technical assistance services not currently accessible due to cultural and language barriers.

HBIF continues to service the needs of entrepreneurs in all stages of their growth and development. In FY 2013-2014, HBIF provided more than 35 work hours to Hispanic owned businesses in the City limits, offered more than 40 business seminars, workshops and orientations and provided technical assistance to more than 50 Hispanic owned businesses in the City. The City's contribution of $100,000 will assist the HBIF in achieving their goals as defined in Exhibit "A" of the attached agreement.

The Hispanic Business Initiative Fund of Florida, Inc. will receive additional funding ranging from $15,000 - $1.5 million from Orange County, Miami-Dade County, Hillsborough County and the State of Florida this fiscal year.

Approval of the 2014-2015 Hispanic Business Initiative Fund of Florida, Inc. Funding Agreement and authorization for the Mayor to execute the funding agreement subject to the review and approval by the City Attorney's Office.