TO: BOARD OF SUPERVISORS
FROM: Executive Office
MEETING DATE: June 4, 2024
DEPARTMENT CONTACT:
Darcie Antle
PHONE:
707-463-4441
DEPARTMENT CONTACT:
Kelly Hansen
PHONE:
707-463-4441
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Ratification of a Letter of Opposition for Proposed 50% Budget Cut to Small Business Technical Assistance Program (TAP) and Capital Infusion Program (CIP) at GO-Biz
End
RECOMMENDED ACTION/MOTION:
recommendation
Ratify letter of opposition for proposed 50% budget cut to Small Business Technical Assistance Program (TAP) and Capital Infusion Program (CIP) at GO-Biz.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
No previous action.
SUMMARY OF REQUEST:
Governor Gavin Newsom released the May Revision to his proposed 2023-24 California state budget (projecting a $31.5 billion shortfall, up from a projected $22.5 billion shortfall in January) and a proposal for the anticipated $28.4 billion 2024-2025 fiscal year shortfall on May 12. The administration proposes to resolve the projected shortfalls through a series of spending reductions, trigger cuts, delays or deferrals of spending authorized in earlier years, and through internal borrowing and fund shifts.
Included in the Governor's May Revisions is a $13 million (50% program) reduction in the Small Business Technical Assistance Expansion Program (TAP) and Capital Infusion Program (CIP) in 24-25 and 25-26 at the Governor's Office of Business and Economic Development (GO-Biz). These programs help fund the technical assistance provided at Small Business Development Centers (SBDCx) like West Business Development Center, which has, since 2019, supported by these funds, facilitated the launch of 160 new businesses, supported the creation of 772 new jobs, and enabled the infusion of over $32 million dollars of capital into our community.
ALTERNATIVE ACTION/MOTION:
Do not ratify letter of opposition and support.
STRATEGIC PLAN PRIORITY D...
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