Agenda Item Wording:
title
Service Agreement - Authorization to execute annual service agreement with Visalia Economic Development Corporation for $60,000 for FY 2024/25 with the option of four annual extensions.
body
Deadline for Action: 6/3/2024
Submitting Department: Community Development
Contact Name and Phone Number:
Devon Jones, Economic Development Manager, devon.jones@visalia.city <mailto:devon.jones@visalia.city>, (559) 713-4190
Department Recommendation:
Authorize execution of an annual service agreement with the Visalia Economic Development Corporation for $60,000 for FY 2024/25 with the option of four annual extensions.
Background Discussion:
The City has partnered with the Visalia Economic Development Corporation (VEDC) for economic development services since its inception in 1996. The formation of the VEDC was originally in response to a need for economic development services for the city specifically and was driven by support from the private sector. The VEDC was instrumental in the development of the industrial park. Today, services focus on marketing the industrial park, coordination with key stakeholders, and outreach assistance to local existing industrial employers to help retain and expand jobs in the industrial park. The partnership helps with ongoing business retention, expansion and attraction efforts and most importantly, helps to maintain an open line of communication with local economic development stakeholders and private sector leaders in the Visalia Industrial Park (VIP). The organization continues to focus on the industrial sector primarily and is an essential partner for the continued vitality of the VIP.
Major elements of the service agreement include continued coordination of the monthly industrial park roundtables, supporting workforce development, and ongoing outreach to the local companies in the VIP. Service also includes maintenance of an industrial park directory, the www.visaliaedc.com <http://www.visaliaedc.com> website, and ongoing social media marketing outreach as well. The proposed service contract amount is the same as it was this past budget cycle, but instead of one annual contract extension option, staff is seeking four annual extension options as is common with many service agreements.
Attached is the proposed service agreement and an activity report outlining general activity for the prior two fiscal years.
Fiscal Impact:
$60,000 from Economic Development Division budget. This is included in the proposed division budget.
Prior Council Action:
On June 20, 2022, the City Council authorized a service agreement with VEDC in amount of $60,000 for Fiscal Year 22/23 and option for Fiscal Year 23/24.
Other: N/A
Alternatives: Per Council direction.
Recommended Motion (and Alternative Motions if expected):
recommendation
I move to authorize staff to execute an annual service agreement with the Visalia Economic Development Corporation for $60,000 for FY 2024/25 with the option of four annual extensions.
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Environmental Assessment Status: N/A
CEQA Review: N/A
Attachments:
1. VEDC service agreement
2. VEDC report June 2024