Council of the District of Columbia

Committee of the Whole

1350 Pennsylvania Avenue, NW

Washington, DC 20004

 

 

TO:                 Nyasha Smith, Secretary to the Council

              

FROM:            Phil Mendelson, Chairman

                                               

DATE:             July 3, 2024

 

 

This memorandum is to request that the following measures be placed on the agenda for the July 9, 2024 Additional Legislative Meeting:

 

▪            Deputy Mayor for Planning and Economic Development Technology Incubator Grant Emergency Declaration Resolution of 2024

▪            Deputy Mayor for Planning and Economic Development Technology Incubator Grant Emergency Act of 2024

▪            Deputy Mayor for Planning and Economic Development Technology Incubator Grant Emergency Act of 2024

 

            This legislation authorizes the Deputy Mayor for Planning and Economic Development (DMPED) to issue a grant, starting in Fiscal Year 2024, to Capital Factory for the purpose of supporting a technology incubator in the District. Capital Factory is a technology incubator that originated in Austin, Texas which seeks to expand to Washington, D.C.

 

            Funding for a $500,000 grant to Capital Factory was included in budget for the Deputy Mayor for Planning and Economic Development in the Fiscal Year 2024 Local Budget Emergency Act of 2024 (Bill 25-787) and funding for an additional $1 million grant to Capital Factory was included in budget for the Deputy Mayor for Planning and Economic Development in the Fiscal Year 2025 Local Budget Act of 2024 (Bill 25-785). However, a subtitle was not included in the Fiscal Year 2025 Budget Support Emergency Act of 2024 (Bill 25-875). Without this emergency measure, the Deputy Mayor would be unable to issue the grants timely, causing unnecessary delays.

 

The draft measures are attached.  Please call me or Blaine Stum if you have any questions at (202) 724-8092. 

 

 

cc:       All Councilmembers

            Council Officers