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Fiscal/Budget Item Printout
148 KB
Extracted
AI Summary
This document outlines a recommendation from Supervisor Betty Duong to the Board of Supervisors regarding a budget item for a grant to the Latino Business Foundation Silicon Valley. The grant of $10,000 aims to support worker cooperatives and provide technical assistance and educational support. The item is set for final consideration on June 18, 2026.
Key points
- The document is from the County of Santa Clara Board of Supervisors.
- It pertains to Budget Inventory Item No. 272 for the Latino Business Foundation Silicon Valley.
- The recommended action is to approve a grant of $10,000.
- The funds will be used to stabilize worker cooperatives and provide technical assistance and educational support.
- The grant is intended to align with the Board of Supervisors' policy cap.
- The Latino Business Foundation Silicon Valley is a 501(c)(3) non-profit organization.
- The document includes a child impact assessment indicating no negative implications for children.
- The document includes a senior impact assessment indicating no negative implications for seniors.
- County staff will execute the agreement and distribute funds following approval.
Generated for convenience from extracted text using AI. Review the official source document before relying on this summary.
Extracted text preview · 3,047 chars
County of Santa Clara Board of Supervisors Supervisorial District Two Supervisor Betty Duong 128693 DATE: May 13, 2026 TO: Board of Supervisors FROM: Betty Duong, Supervisor SUBJECT: Budget Inventory Item No. 272 Latino Business Foundation Silicon Valley RECOMMENDED ACTION Approve Inventory Item No. 272 to provide a grant to Latino Business Foundation Silicon Valley in the amount of $10,000 relating to stabilizing co-ops, providing technical assistance and educational support, and refer item for final consideration and approval on June 18, 2026. (Duong) FISCAL IMPLICATIONS There is a one-time cost of $10,000. The recommended amount is less than the requested amount in order to align with the Board of Supervisors' policy cap while still funding the maximum number of requests. REASONS FOR RECOMMENDATION While the Latino Business Foundation Silicon Valley (LBFSV) normally focuses on new and emerging entrepreneurs, the grant funds will be used to stabilize worker cooperatives with membership from low-wage sectors. In the co-op business model, the enterprise is owned and democratically controlled by its members. The grant funds will allow LBFSV to increase capacity to deliver this...