20250326-029 Establishment of Entrepreneuriual Grants for LGBTQIA+ Businesses — original pdf

Recommendation

COMMISSION RECOMMENDATION Joint Inclusion Committee Recommendation Number: (20250326-029): Establishment of Entrepreneurial Grants for LGBTQIA+ Businesses WHEREAS, local LGBTQIA+ businesses contribute significantly to the cultural richness and economic vitality of Austin; and WHEREAS, similar initiatives for minority business owners have demonstrated success in fostering entrepreneurial spirit and business growth within underserved communities; and WHEREAS, no-interest loans can provide essential financial support to emerging LGBTQIA+ businesses, enabling them to thrive without the burden of debt accumulation; and WHEREAS, supporting LGBTQIA+ entrepreneurs aligns with the city's commitment to diversity and economic inclusion; and WHEREAS, establishing a dedicated grant program for LGBTQIA+ business owners would address specific challenges faced by this group and promote a more inclusive business environment; NOW, THEREFORE, BE IT RESOLVED that the Joint Inclusion Committee recommends that the Austin City Council create and fund an entrepreneurial grant program for local LGBTQIA+ businesses, allocating $180,000 to offer no-interest loans. This funding will support the establishment and growth of these businesses, ensuring they have the resources necessary to succeed. Date of Approval: _____________________________ Record of the vote: Attest: _____________________________________________ Commissioner Bondi, Vice Chair Page 1 of 1 March 26, 202510-0, Motion Commissioner Ortega, Second Commssioner Benson