City of Madison - File #: 43228

• File #: 43228
• Version: 1
• Name: Cooperative Enterprise Development Contracts
• Type: Resolution
• Status: Passed
• File created: 6/1/2016
• In control: ECONOMIC DEVELOPMENT COMMITTEE
• On agenda: 7/5/2016
• Final action: 7/5/2016
• Enactment date: 7/6/2016
• Enactment #: RES-16-00502
• Title: Resolution accepting the staff recommendation to select Madison Development Corporation to act as the loan manager and Cooperative Network to oversee the technical assistance providers for the Cooperative Enterprise Development Program; and, authorizing the Mayor and City Clerk to execute contracts with each organization.
• Sponsors: Paul R. Soglin, Rebecca Kemble

Date	Ver.	Action By	Action	Result
7/5/2016	1	COMMON COUNCIL	Adopt	Pass
6/27/2016	1	BOARD OF ESTIMATES (ended 4/2017)	RECOMMEND TO COUNCIL TO ADOPT - REPORT OF OFFICER	Pass
6/15/2016	1	ECONOMIC DEVELOPMENT COMMITTEE	Return to Lead with the Recommendation for Approval	Pass
6/8/2016	1	BOARD OF ESTIMATES (ended 4/2017)	Referred
6/7/2016	1	COMMON COUNCIL	Refer	Pass
6/1/2016	1	Economic Development Division	Referred for Introduction

Fiscal Note
The 2016 Adopted Capital Budget includes $600,000 for Co-operative Enterprise Development (MUNIS Project 17073). The proposed resolution authorizes a contract with Madison Development Corporation for $300,000 to oversee implementation of the revolving loan program and a contract with Cooperative Network for $300,000 to oversee implementation of the technical assistance programming and network. These agreements are part of a five year program as outlined in the 2016 Adopted Capital Improvement Plan.
Title
Resolution accepting the staff recommendation to select Madison Development Corporation to act as the loan manager and Cooperative Network to oversee the technical assistance providers for the Cooperative Enterprise Development Program; and, authorizing the Mayor and City Clerk to execute contracts with each organization.
Body
WHEREAS, the City of Madison is a national leader in the Worker Cooperative (aka business cooperative and worker-owned cooperative) movement; and,

WHEREAS, business cooperatives can play an important role in maintaining and growing jobs within the community; and,

WHEREAS, business cooperatives economically empower workers and help address community needs; and,

WHEREAS, the City believes creating a loan fund and technical assistance services to help create new business cooperatives and convert Madison businesses interested in changing ownership into worker-owned cooperatives will help create wealth and opportunities for increased economic equity; and,

WHEREAS, the Madison Development Corporation has submitted a proposal in response to RFP 8516-0-2016RR that addresses creating a fund focused on providing loans to business cooperatives; and,

WHEREAS, the Cooperative Network also responded to RFP 8516-0-2016RR with a proposal to serve as the coordinating organization for the Madison Cooperative Development Coalition, which consists of a partnership between nineteen (19) Madison organizations that will create a network of co...