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Type:
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Contract
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Status:
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Agenda Ready
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On agenda:
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2/21/2019
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Final action:
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Title:
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AUTHORIZE the Chief Executive Officer (CEO) to:
A. AWARD a two-year base period, firm fixed price Contract No. PS56079000 with Pacific Coast Regional Small Business Development Corporation (PCR) to serve as the fund administrator for Metro's Pilot Business Interruption Fund (BIF) in the amount of $1,585,246 with two, one-year options, in the amounts of $720,882 and $650,306, respectively, with an optional start-up of $391,576 for the inclusion of future new rail lines in this pilot, for a total amount of $3,348,010;
B. EXPAND the Pilot Business Interruption Fund to include eligible small "mom and pop" businesses directly impacted by construction of the Purple Line Extension, Section 3; and
C. RECEIVE AND FILE the status report of the Pilot Business Interruption Fund (BIF).
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Indexes:
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Airport Metro Connector (AMC) Station Project, Audit, Budgeting, Business Interruption Fund, Business Solution Center, Construction, Contracts, Crenshaw/LAX Transit Corridor Project, Evaluation and assessment, Grant Aid, Guidelines, Little Tokyo, Los Angeles International Airport, Measure R, Metro Blue Line, Metro Crenshaw Line, Metro Exposition Line, Metro Gold Line, Metro Green Line, Metro Purple Line, Metro Rail A Line, Metro Rail C Line, Metro Rail D Line, Metro Rail E Line, Metro Rail K Line, Metro Rail L Line, Metro Vision 2028 Plan, Motion / Motion Response, Outreach, Payment, Pilot studies, Procurement, Professional Services, Program, Project, Rail transit, Regional Connector Transit Corridor Project, Regional development, Research management, Strategic planning, Street closure, Twenty-eight by '28 Initiative, Westside Subway Extension/Purple Line Extension Phase 1, Westside Subway Extension/Purple Line Extension Phase 2, Westside Subway Extension/Purple Line Extension Phase 3, Westside/Central Service Sector
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Meeting_Body CONSTRUCTION COMMITTEE FEBRUARY 21, 2019 Subject SUBJECT: METRO PILOT BUSINESS INTERRUPTION FUND (BIF) Action ACTION: APPROVE RECOMMENDATIONS Heading RECOMMENDATION Title AUTHORIZE the Chief Executive Officer (CEO) to: A. AWARD a two-year base period, firm fixed price Contract No. PS56079000 with Pacific Coast Regional Small Business Development Corporation (PCR) to serve as the fund administrator for Metro's Pilot Business Interruption Fund (BIF) in the amount of $1,585,246 with two, one-year options, in the amounts of $720,882 and $650,306, respectively, with an optional start-up of $391,576 for the inclusion of future new rail lines in this pilot, for a total amount of $3,348,010; B. EXPAND the Pilot Business Interruption Fund to include eligible small "mom and pop" businesses directly impacted by construction of the Purple Line Extension, Section 3; and C. RECEIVE AND FILE the status report of the Pilot Business Interruption Fund (BIF). Issue ISSUE In October 2014, Metro's Board issued Motion 57 (Attachment A) that authorized the CEO to establish a pilot program for a special Business Interruption Fund (BIF) for "mom and pop businesses" located along the Crenshaw Line, the Little Tokyo area along the Regional Connector and Phase I of the Purple Line Extension. Since the adoption of the Motion and the implementation of the BIF, Metro has expanded the program to include "mom and pop" businesses within the 2nd/Broadway segment of Regional Connector including Section 2 of the Purple Line Extension. Metro has continued to provide financial assistance to directly impacted eligible businesses through the contracted professional services of Pacific Coast Regional Small Business Development Corporation (PCR), a Community Development Financial Institution (CDFI) and Small Business Development Center (SBDC) serving as the BIF fund administrator. The authorization of the professional services contract supports the ongoing implementation o... Click here for full text
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