Meeting_Body
PLANNING AND PROGRAMMING COMMITTEE
MARCH 20, 2024
CONSTRUCTION COMMITTEE
MARCH 21, 2024
Subject
SUBJECT: METRO BUSINESS INTERRUPTION FUND (BIF)
Action
ACTION: APPROVE RECOMMENDATION
Heading
RECOMMENDATION
Title
CONSIDER:
A. AUTHORIZING the Chief Executive Officer to award a firm fixed price Contract No. PS109347-2000 to Pacific Coast Regional Small Business Development Corporation (PCR) to serve as the fund administrator for Metro's Business Interruption Fund (BIF) in the amount of $5,168,773 for the three-year base term, with two, one-year options in the amounts of $1,699,722 and $1,761,758 respectively, for a total amount of $8,630,253, subject to the resolution of any properly submitted protest(s), if any; and
B. RECEIVING AND FILING the status update on Motion 17 which directed Metro staff to provide a program update that considers, but is not limited to, resources necessary to maintain a permanent Business Interruption Fund and culturally competent outreach and inclusive technical assistance to adequately support affected businesses.
Issue
ISSUE
As Metro continues to build the future of transportation in LA County, the Business Interruption Fund (BIF) continues to be an important and successful program for the adjacent impacted businesses. The BIF Fund Administrator serves a pivotal role in the delivery of Metro's Business Interruption Fund.
The current contract for the BIF Fund Administrator expires April 30, 2024. The authorization of this professional services contract supports the ongoing administration of the BIF.
The recommendation also provides a status update as directed by Motion 17, by Directors Horvath, Dupont-Walker, Solis, Barger, Krekorian, and Dutra that directed the Chief Executive Officer (CEO) to establish a permanent Business Interruption Fund and provide a program update that considers but is not limited to, the following: A. Resources necessary to maintain a permanent Business Interruption Fund; and B....
Click here for full text