CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Economic Development 		For Meeting of:
August 28, 2017
District: ALL From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Funding Agreement Between the City of Orlando and Central Florida Foundation, Inc. for the benefit of the Central Florida Social Enterprise Accelerator
Summary:

The Central Florida Foundation, Inc. (CFF) has launched a new Central Florida Social Enterprise Accelerator (CFSEA), a six-month accelerator program to support the startup and growth of social enterprise companies. Social enterprises, by definition, are companies that exist to solve social, environmental and economic challenges by helping to develop new business models aimed at correcting or reversing those issues, ultimately improving quality of life for residents.

The CFF will host the inaugural six-month class of the CFSEA at Rollins College from September 2017 to approximately March 2018 and will provide support, programming, mentorship, legal, marketing and accounting advice to social entrepreneurs in the early stages of developing their product or business into self-sustainable ventures within our community.

CFSEA graduate companies will have received the guidance and tools to grow their companies in the City of Orlando and throughout Central Florida, creating new jobs and opportunities for residents.

The CFSEA is unique in that it provides the programming and mentorship for these very specific types of social enterprise companies which other accelerators currently do not offer.

The City’s contribution of $7,500 will assist the CFF in hosting the inaugural class of the CFSEA.  In exchange for this contribution the City will receive sponsorship benefits as outlined in Exhibit “A”.
Fiscal & Efficiency Data: Fiscal Impact Statement Attached 
Recommended Action:
Approval of the Funding Agreement Between the City of Orlando and Central Florida Foundation, Inc. and authorization for the Mayor or Mayor Pro Tem to execute the funding agreement subject to the review and approval by the City Attorney's Office.


Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Kathy DeVault/ext 3109 Lillian Scott Payne ext 3648
Approved By:

Department Date and Time
Planning and Environmental Attorney 8/17/2017 12:22 PM
Budget Outside Routing Approval 8/17/2017 2:03 PM
City Clerk 8/17/2017 2:06 PM
ATTACHMENTS:
Name: Description: Type:
Fiscal_Impact_Statement_(1).doc Fiscal Impact Statement Backup Material
2017-2018_Central_Florida_Foundation_-_Enterprise_Accelerator_Program_-_final_#2.pdf 2017-2018 CF Foundation Enterprise Accelerator Program Backup Material
"Enhance the quality of life in the City by delivering public services in a knowledgeable, responsive and financially responsible manner."