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The Mayor and City Council shall discuss and possibly take action on approving an amended month to month Professional Services Agreement between the City of Maricopa and Northern Arizona Center for Entrepreneurship and for contract services of the Maricopa Center for Entrepreneurship (MCE). The month to month agreement is for a minimum of 6 months with a maximum of 12 months. Funding for this agreement was approved in FY17-18 General Fund, Non-Departmental, Professional and Occupational (10010000-53320). Discussion and Action.
AGENDA ITEM DESCRIPTION
The Council approved Economic Development Strategic Plan was created to guide the City's short and long-term economic development efforts. The plan established four key goals to achieving economic development success as well as accompanying strategies and actions needed to realize those goals. Goal 1: Strategy C, specifically calls out the need to support local entrepreneurs in the start-up of new business.
Across the nation communities have embraced entrepreneurship as a means of promoting economic diversification, local innovation, and stimulating growth. The reason is two-fold: 1) an economic transition in the U.S. that has created more market opportunities for entrepreneurs and 2) the recognition that entrepreneurs can be more deeply rooted in their communities, which increases both their economic and social impacts.
To fulfill this goal the Economic Development Department issued a Request for Statement of Qualifications in the winter of 2012 seeking partnership opportunities with interested organizations for the implementation and operational management of the Maricopa Center for Entrepreneurship (MCE) incubator. February 5, 2013 City Council approved a Professional Services Agreement with the Northern Arizona Technology & Business Incubator for the creation and operational management of the MCE incubator and renewed an expanded agreement again September 3, 2013.
Business incubators nurture the development of entrepreneurial companies, helping them survive and grow during the start-up period which is often when they are most vulnerable. These programs provide client companies with business support services and resources tailored to young firms. The MCE goals are to:
• create jobs in a community,
• enhance the community's entrepreneurial climate,
• retain businesses in a community,
• build or accelerate growth in the local economy,
• diversify the local economy.
The most recent draft of the City's Economic Development Strategic Plan outlines in Goal 2: Invest in infrastructure, quality of life and other improvements that will assure Maricopa's ability to successfully compete for and retain, recruit, and grow firms, and quality jobs, in the targeted economic sectors; Item C: Explore resources to elevate and strengtheb the Maricopa Center for Entrepreneurship.
The month to month Professional Services Agreement extends the contract term for a minimum of six months to 12 months, the scope of services include 1.1. Personnel, Training, Creation and Operations, 1.2. Outreach and Recruitment, 1.3 Educational Programs, 1.4 Budget/Performance Metrics and the Revolving Loan Fund. Economic Development Director Airheart will provide a monthly written memo to City Manager Rose reporting on MCE progress.
This item will be presented by Economic Development Director Denyse Airheart.
CITY MANAGER'S RECOMMENDATION
City Manager recommends the Mayor and Council approve the month to month Professional Services Agreement between the City of Maricopa and the Northern Arizona Center for Entrepreneurship and Technology in the amount of $12,500 per month. Funding for this agreement was approved in FY17-18 General Fund, Non-Departmental, Professional and Occupational (10010000-53320).