2019 -- S 0894

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LC002661

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2019

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J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $140,000 TO URBAN VENTURES

     Introduced By: Senators Ciccone, Lombardo, Lombardi, and Nesselbush

     Date Introduced: May 22, 2019

     Referred To: Senate Finance

     WHEREAS, Urban Ventures was created in 1999 under RIGL § 42-64-13.1 "Assistance

to Urban Communities for Economic Revitalization" as a 501(c)3 nonprofit organization

dedicated to helping small/micro businesses finance investments, start-up, and grow; and

     WHEREAS, Since its inception, Urban Ventures has assisted hundreds of

entrepreneurs/businesses of diverse ethnic backgrounds in a wide variety of industries; and

     WHEREAS, Currently, Urban Ventures has two full-time paid staff and a nine person

volunteer board of directors who lend their extensive expertise in working with clients as needed;

and

     WHEREAS, To accomplish its goals, Urban Ventures utilizes technology, the E-

Incubator concept, to leverage its work with clients on their businesses, including providing

dedicated online spaces for clients to think through and develop their ideas and online presence,

and to make it easy for these businesses to stay in meaningful communication with Urban

Ventures, sometimes seven days a week. This E-Incubator concept helped Rhode Island win a

$4.5 million Federal Broadband Grant in 2010; and

     WHEREAS, In addition, Urban Ventures co-authored Rhode Island’s historic Micro

Business Law in 2016, and in 2018, introduced UV Launch Pads, in order to allow clients to learn

first-hand how easy it is to develop a website that they can use to showcase their business,

products and services to the world; and

     WHEREAS, Urban Ventures also collaborates with other partners in the community

whenever it can in order to assist with areas of entrepreneurship/business development with

individuals with which it is working; and

     WHEREAS, The initial funding appropriation for Urban Ventures was $250,000. In

recent years, the organization's funding has dropped to $140,000 annually; now, therefore be it

     RESOLVED, That there is hereby appropriated, out of any money in the treasury not

otherwise appropriated for the fiscal year 2019-2020, from sums appropriated to the Rhode Island

Commerce Corporation, the sum of one hundred forty thousand dollars ($140,000), which shall

be granted to Urban Ventures to implement activities assisting small businesses within the State

of Rhode Island; and the state controller is hereby authorized and directed to draw orders upon

the general treasurer for the payment of said sum, upon receipt of properly authenticated

vouchers.

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

J O I N T   R E S O L U T I O N

MAKING AN APPROPRIATION OF $140,000 TO URBAN VENTURES

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     This resolution would authorize the appropriation of the sum of $140,000, from sums

appropriated to the Rhode Island Commerce Corporation, to Urban Ventures.

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