TITLE
The Mayor and City Council shall discuss and possibly take action on approving an updated agreement between the City of Maricopa and the Maricopa Economic Development Alliance for FY2016- 2017 in an amount not to exceed $119,500. $44,500 will be funded from General Fund, Non-Departmental, Program Awards (10010000-53380) and $75,000 will be funded from General CIP Fund, Economic Development, Improvements Other Than Buildings (35011616-67730-31004). Discussion and Action.
AGENDA ITEM DESCRIPTION
The mission of Maricopa Economic Development Agreement (MEDA) is to champion strategies and solutions that foster economic growth and prosperity in the City of Maricopa.
MEDA is Maricopa’s private-public partnership for economic development. As a 501(c)3 corporation, the organization champions strategies and solutions that foster economic growth and prosperity in the City of Maricopa by bringing together the business, government, education and civic sectors to identify and advance forward-looking policies that facilitate investment, growth and workforce development. MEDA’s board is comprised of executives from Maricopa’s major business sectors, representing expertise and experience in utilities, finance, development, health care, government, and infrastructure development.
The funds awarded per this contract are contingent upon a dollar-for-dollar raise of matching funds from the private sector for operations and a three-for-one raise of matching funds for a Public-Private-Partnership (P3) marketing campaign . Under no circumstance is the City obligated to expended funds in excess of $44,500 per the contract for operations and $75,000 for marketing efforts. Council direction for the initiation of a P3 marketing campaign was given at during the November 1, 2013 Strategic Planning Retreat.
The services to be performed by MEDA per this contract are detailed in Exhibit A and Exhibit B.
This item will be presented by Economic Development Director Denyse Airhear...
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