Item Description:
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Negotiate 19 Elevate Hennepin multijurisdictional agreements with local government agencies and the HCHRA, 01/01/25-12/31/26
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Resolution:
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BE IT RESOLVED, that the County Administrator be authorized to negotiate multijurisdictional agreements with the Hennepin County Housing and Redevelopment Authority (HCHRA) and each of the following municipalities and/or affiliated entities for economic development purposes to expand small business programming, one-on-one consulting, access to financing, communications, and outreach within the Elevate Hennepin framework, during the period January 1, 2025 through December 31, 2026:
A2412664 with City of Minneapolis
A2412596 with Bloomington Port Authority
A2412599 with City of Minnetonka
A2412600 with City of Brooklyn Park Economic Development Authority
A2412601 with City of Edina
A2412602 with City of Maple Grove
A2412603 with City of Plymouth
A2412604 with St. Louis Park Economic Development Authority
A2412605 with City of Eden Prairie
A2412606 with Brooklyn Center Economic Development Authority
A2412607 with Economic Development Authority of the City of Crystal
A2412608 with City of Golden Valley
A2412609 with Hopkins Housing and Redevelopment Authority
A2412610 with Richfield Economic Development Authority
A2412611 with Robbinsdale Economic Development Authority
A2412612 with City of Rogers
A2412613 with City of New Hope
A2412614 with Dayton Economic Development Authority
A2412615 with City of Medina
that following review and approval by the County Attorney's Office, the County Administrator be authorized to sign the agreements on behalf of the county.
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Background:
The Elevate Hennepin suite of programming provides resources to develop entrepreneurs, create new businesses, and help small businesses grow and thrive. The core offering of Elevate Hennepin is professional consulting provided directly to business owners by a local network of talented and culturally competent business advisors. Elevate Hennepin’s network of business advisors provide expertise and specialized consulting services in eight areas of support, covering a wide range of “back-office” areas including accounting, human resources, legal, marketing, and more. The Elevate Hennepin brand of resources also includes a series of comprehensive, cohort-based programs that provide intensive support and training for business owners from idea to second stage.
By absorbing the cost of professional consulting and training opportunities that are typically out of reach for most aspiring entrepreneurs and small business owners, Elevate Hennepin removes barriers to entrepreneurship and addresses structural inequities faced by business owners who are Black, Indigenous, people of color, and women.
Combined, Elevate Hennepin advising and cohort programs have served over 3,200 businesses, and by a conservative estimate, have supported over 12,000 livelihoods in Hennepin County. Since 2022, business consultants and advisors in the Elevate Hennepin network helped launch 186 new businesses and helped 140 business owners access $28.4 million in capital, resulting in the retention or creation of 608 jobs.
Building on the successful partnership model established with Hennepin County municipalities in 2023, the current request to authorize 19 multijurisdictional agreements will enhance communications efforts, improve outreach, and better serve small businesses. With the additional offering of small business financing options beginning in early 2025, these multijurisdictional agreements will affirm interagency support for increased access to capital.
A companion action is pending concurrent approval by the HCHRA. Because the HCHRA is the recipient of payments received under these agreements, for a combined receivable total of $274,250, the contract amounts appear only in that board action request. Funds will be used for Elevate Hennepin programming.
Current Request: This request is for the authorization to negotiate 19 multijurisdictional agreements for economic development purposes to enhance communications efforts, improve outreach, create financing options, and better serve small businesses in each of: Minneapolis, Bloomington, Minnetonka, St. Louis Park, Brooklyn Park, Edina, Maple Grove, Plymouth, Eden Prairie, Brooklyn Center, Crystal, Golden Valley, Hopkins, New Hope, Richfield, Robbinsdale, Rogers, Dayton, and Medina during the period January 1, 2025 through December 31, 2026.
Impact/Outcomes: Authorization of these agreements will reduce barriers in access to entrepreneurship and generate inclusive economic growth through enhanced partnership for specialized consulting, cohort programs, and access to capital for small businesses in 19 Hennepin County cities.
Income Domain Disparity: Specialized consulting and technical assistance offered through Hennepin County’s Elevate Hennepin efforts help address racial gaps in business ownership. To-date, 59% of entrepreneurs and business owners accessing small business consulting, 65% of those accessing financing, and 73% of those starting a business with support from Elevate Hennepin identify as Black, Asian, Hispanic/LatinX, Indigenous, or multi-racial.
recommendation
Recommendation from County Administrator: Recommend Approval