Agmt22 CDBG Renaissance Entrepreneurship Center FY22-23

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REV: 07-14-22 SK A G R E E M E N T RENAISSANCE ENTREPRENEURSHIP CENTER (Creating Economic Opportunity for Low-Income Redwood City, City of San Mateo, and County of San Mateo Women and Men) THIS AGREEMENT, made and entered into this day of __________ 2022, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California (“City”) and RENAISSANCE ENTREPRENEURSHIP CENTER, a California nonprofit organization (“Subrecipient”; collectively the “Parties”). W I T N E S S E T H: WHEREAS, the United States Department of Housing and Urban Development (“HUD”) Community Development Block Grant Program (“CDBG”), authorized pursuant to Title I of the Housing and Community Development Act of 1974 (P.L. 93-383), as amended (the “Act”), provides the City with federal entitlement grant funds to finance a continuum of activities ranging from public services to economic development and the preservation and production of affordable housing; and WHEREAS, Subrecipient provides certain services through programs, including the Project described in Exhibits “A” (“Program & Quantitative Goals”), and “B” (“Program Budget”), attached hereto and made a part hereof; and WHEREAS, Subrecipient has requested financial assistance from CDBG funds in order to conduct the Project described in Exhibit “A” for residents of the City during the fiscal year commencing July 1, 2022, and ending June 30, 2023 (the “Fiscal Year”). NOW, THEREFORE, the Parties hereby agree as follows: 1. FINANCIAL ASSISTANCE. City will allocate to Subrecipient the sum of Fifty Thousand Dollars ($50,000) (the “Subaward”) for exclusive use by Subrecipient during the fiscal year commencing July 1, 2022, and ending June 30, 2023, solely for the purposes described in Paragraph 3. ATTY/AGR.2022.183/RENAISSANCE ENTREPRENEURSHIP CENTER (Creating Economic Opportunity) (Page 1 of 20) August10th