CITY of ALBUQUERQUE
TWENTY-SIXTH COUNCIL
COUNCIL BILL NO. R-24-6 ENACTMENT NO. ___________________
SPONSORED BY: Klarissa J. Pe?a, by request
RESOLUTION
title Approving And Authorizing The Acceptance Of Rural Supplemental Grant Funds From The Department Of Commerce Minority Business Development Agency And Providing An Appropriation To The Economic Development Department For Fiscal Year 2024 (Pe?a, by request)
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APPROVING AND AUTHORIZING THE ACCEPTANCE OF RURAL SUPPLEMENTAL GRANT FUNDS FROM THE DEPARTMENT OF COMMERCE MINORITY BUSINESS DEVELOPMENT AGENCY AND PROVIDING AN APPROPRIATION TO THE ECONOMIC DEVELOPMENT DEPARTMENT FOR FISCAL YEAR 2024.
WHEREAS, the Albuquerque Economic Development Department, in partnership with the Minority Business Development Agency and the New Mexico MBDA Business Center will benefit from additional funding appropriated of the Rural Supplement Federal Award number MB21OBD8050197 for the purpose of assisting Rural Minority Business Enterprise ("RMBEs") in Albuquerque, in the state, and across the United States; and
WHEREAS, this non-competitive funding is for assisting the New Mexico MBDA Business Center to expand the reach in proving technical assistance to RMBEs in New Mexico and expanding to Northern Rural New Mexico; and
WHEREAS, strong empirical evidence shows that promotion of diversity, equity, and inclusion is an effective strategy for improving profitability, creativity, governance, and problem-solving outcomes in the private sector; and
WHEREAS, the Department of Commerce Minority Business Development Agency promotes the growth of minority-owned businesses through public and private sector programs, policy, and research, operating through a national network of MBDA Business Centers; and
WHEREAS, the additional funding would be used to assist smaller and non-employer MBEs under the MBDA New Mexico Business Center; and
WHEREAS, the City applied for non-competitive grant fr...
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