Title
Chief Administrative Office, Economic Development Division, recommending the Board approve $7,572 in 2015/16 membership dues funding for the Sierra Economic Development Corporation. (Cont. 8/11/15, Item 33)
FUNDING: General Fund. (Transient Occupancy Tax)
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DEPARTMENT RECOMMENDATION
Department recommending the Board authorize the expenditure of no more than $7,572.00 for 2015-2016 dues to Sierra Economic Development Corporation.
DISCUSSION / BACKGROUND
Formed through a joint powers agreement by the counties of El Dorado, Placer, Nevada and Sierra in 1969, the Sierra Economic Development Corporation (SEDCorp) is a private non-profit organization devoted to supporting the economic development of the rural communities north and east of Sacramento.
SEDCorp has three primary functions. First, SEDCorp supports local jurisdictions in their economic development efforts, providing expertise often lacking in small local governments. Second, SEDCorp supports local businesses with a variety of training events ranging from single-subject sessions on such topics as bookkeeping and local business resources, to intensive three-day business "boot camps" to teach the fundamentals of sound business planning from inception to retirement. A “Small Business Accelerator” workshop held in Placerville on June 25th was organized by SEDCorp. Last, SEDCorp is a small business lender who provides a number of loan products sourced from the U.S. Small Business Administration (http://www.sba.gov/) and the Department of Agriculture (http://www.cdfa.ca.gov/) to a service area that extends across all the counties touching the border with Nevada from Sacramento to Oregon. A synopsis of 2014 lending by SEDCorp is included below.
Currently, SEDCorp is working with Cal.Net, a regional broadband provider, on an application to the State California Public Utilities Commission (CPUC) to fund infrastructure for approximately 2,000 residents in predominately rural locations in El Dorado ...
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