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RESOLUTION APPROVING DEDA RESOLUTION 20D-41 AUTHORIZING AN AGREEMENT WITH THE NORTHEAST ENTREPRENEUR FUND, INC.TO IMPLEMENT THE DULUTH SMALL BUSINESS EMERGENCY FUND IN THE AMOUNT OF $443,000.
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CITY PROPOSAL:
RESOLVED, that pursuant to Resolution 10-0229, the city council hereby approves Resolution No. 20D-41 of the Duluth economic development authority (“DEDA”) authorizing an agreement with the Northeast Entrepreneur Fund, Inc., to implement the Duluth Small Business Emergency Fund in the amount of $443,000.
Statement of Purpose
STATEMENT OF PURPOSE: This resolution approves DEDA’s agreement with Northeast Entrepreneur Fund, Inc., to implement the Duluth Small Business Emergency Fund in the amount of $443,000. Pursuant to Resolution 10-0229, the city council must approval DEDA expenditures over $100,000. DEDA resolution no. 20D-41 and the agreement are attached hereto as Exhibit A.