TITLE
The Mayor and City Council shall discuss and possibly take action on approving an Economic Development Services Agreement with the Maricopa Economic Development Alliance (MEDA) to provide a comprehensive economic development program focused on building jobs and capital investment in the City. 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.
MEDA agrees to be the lead and serve as the single point of contact and information source on behalf of the City of Maricopa to prospective employers, investors and other groups such as real estate brokers and developers and site location consultants interested in investing and/or establishing job-producing operations in the City. MEDA will provide direct assistance to the City in establishing and executing a marketing plan positioning Maricopa as a location for business operations through business development activities. MEDA will be providing regular updates to the City Manager and Economic Development Manager as well as City Council twice annually. MEDA will be hiring a full-time economic development professional to fulfill MEDA’s scope of work, especially related to business development and qualified administrative staff.
This Agreement will be for five (5) years with automatic renewal after the contract period in five-year increments. At any time, either party may provide written notice at least twelve (12) months in advance of its intention to cancel this Agreement with or without cause. In accordance with the terms and conditions of this Agreement, City shall compensate MEDA for its services as follows: $435,000 For Fiscal Year 2019-2020 (July 1, 2019 through June 30, 2020). MEDA has received $125,000 so far in FY19-20 which will be applied. For the remainder of the term of this Agreement, MEDA shall present a proposed budget to the City Manager no later than March 1 of each year beginning March 1, 2020, which will be reviewed, adjusted and approved by City Council as part of the City’s annual budget process. MEDA will continue to be responsible for developing funds from private sources in a similar manner to what it has been doing.
MEDA will establish an annual plan of work (Annual Action Plan) that includes a budget, staffing, tasks and the programs and actions to be taken by MEDA during the forthcoming fiscal year, including goals, action items, and performance metrics to be used to manage and measure progress in implementing the Annual Action Plan commensurate with the amount being paid by the City. The Annual Action Plan and Performance Metrics shall be approved by the MEDA Board and the City Manager each year. The Annual Plan and Performance Metrics may be adjusted periodically by mutual consent of the MEDA Board and the City. The Annual Action Plans will be completed and provided to the City no later than May 1st of each year of this Agreement and will be incorporated into this Agreement as performance metrics for MEDA.
A detailed description of the services to be performed by MEDA per this contract are detailed in Exhibit A.
This item will be presented by City Manager Rick Horst.
STAFF RECOMMENDATION
Staff recommends the Mayor and City Council approve the Economic Development Services Agreement between the City of Maricopa and the Maricopa Economic Development Alliance.