CITY OF POMONA
COUNCIL REPORT
February 26, 2024
To: Honorable Mayor and Members of the City Council
From: Anita D. Gutierrez, City Manager
Submitted by: Kirk Pelser, Economic Development Director Subject: APPROVING FUNDING OF $75,000 TO THE POMONA ECONOMIC OPPORTUNITY CENTER (PEOC) IN ACCORDANCE WITH THE DEFINED DISBURSEMENT SCHEDULE RECOMMENDATION:
It is recommended that the City Council approve funding for the Pomona Economic Opportunity (the “PEOC”) for FY 2023-2024 in the amount of $75,000 to be disbursed in four equal payments of $18,750 at the end of each quarter after receipt of the respective Quarterly Reports.
EXECUTIVE SUMMARY:
The recommended action is for the City Council to authorize the expenditure of $75,000 from the 2023-2024 Fiscal Year Budget to fund the Pomona Economic Opportunity Center for the purposes of maintaining and operating a centralized day labor center at 1682 W. Mission Boulevard.
FISCAL IMPACT:
Funding for PEOC is available in the City’s FY 2023-2024 Operating Budget account number 101-0101-52189-00000.
PREVIOUS COUNCIL ACTION:
The City Council has, in past years, provided financial assistance to the PEOC. In FY 2022-2023, the City Council also approved funding to the PEOC in the amount of $75,000.
BACKGROUND:
Following the dissolution of the Redevelopment Agency in 2012, the City began funding the PEOC with General Fund revenues. In each of the most recent several fiscal years, the City Council approved $75,000 to the PEOC.
DISCUSSION:
The PEOC has presented a Budget for FY 2023-2024 (Attachment 1) with a Budget Narrative outlining their revenue and expenditures sources. As described in the PEOC’s Budget, their proposed FY 2023-2024 expenditures are $1,820,194. PEOC is seeking City assistance in the amount of $75,000. The remaining $1,745,194 is anticipated to be funded by various other public and private contributors (see attached PEOC 2023-2024 Proposed Budget). The PEOC proposes to use the City’s contribution of $75,000 towards salary costs for the full-time Day Labor Center Coordinator position, a portion of the Executive Director position, and various other operational expenses as detailed in Attachment 1.
ATTACHMENT:
1. PEOC Fiscal Year 2023-2024 Budget & Budget Narrative PEOC Funding FY 2023-24
February 26, 2024
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