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Local Business Preference Ordinance <br />March 5, 2012 <br />Page 6 <br />Based on 2010 contract information, a 25 percent increase in local vendors being awarded City <br />contracts would have resulted in approximately $280,000 additional dollars circulating in the local <br />economy as a direct effect, with additional money entering the local economy through indirect <br />and induced effects as discussed above. <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />a . Trevino <br />Executive Director <br />Planning & Building Agency <br />M F:rb <br />rbVeportslocal Business Preference Ordinance 03-05-12.cc <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />Exhibits 1. Charter Excerpt <br />2. Local Preference Contract Value Restrictions <br />3. Department of General Services Eligibility Requirements for Small Business Certification <br />4. Letter of support from Orange County Business Council <br />5. Fiscal Impact Calculations <br />6. Fiscal Impact Comparisons <br />75B-6