TITLE
Recommendation to adopt Specifications No. RFP ED21-064 and award contracts to Rithya Siddhartha Tang DBA Small Business Advisory (SBA), of Whittier, CA, and 4Front Partners, LLC, of Oakland, CA, to provide eligible participants in the City’s Cannabis Social Equity Program with direct technical assistance to facilitate business ownership in the cannabis industry, in a total annual aggregate amount not to exceed $230,000, through September 30, 2022, with the option to renew for one additional one-year period, at the discretion of the City Manager; and, authorize City Manager, or designee, to execute all documents necessary to enter into the contracts, including any necessary subsequent amendments. (Citywide)
DISCUSSION
City Council approval is requested to enter into contracts with SBA and 4Front Partners, LLC, to provide eligible participants in the City of Long Beach’s (City) Cannabis Social Equity Program direct technical assistance to facilitate business ownership in the cannabis industry. SBA was selected to assist Equity Applicants in assessing their financial needs, developing business plans, and receiving financial and accounting support. 4Front Partners, LLC, was selected to focus on reviewing financial information, marketing, budgeting, action planning, site and lease negotiation, and business operations.
The City secured grant funds from the State of California, Governor’s Office of Business and Economic Development (GO-Biz) under their Cannabis Equity Grants Program for Local Jurisdictions to provide direct technical assistance to help Equity Applicants gain entry to and/or successfully operate in the regulated cannabis market. RFP ED21-064, released on May 13, 2021, requested proposals from interested vendors in the following priority areas:
· Site Location and Lease Negotiation
· Assessing Financial Need
· Finance and Accounting Support
· Regulatory Compliance Support
The Request for Proposals (RFP) was advertised in the Long Beach Press-...
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