Agenda Item Wording:
title
Authorization to execute annual service agreement with Visalia Economic Development Corporation (VEDC) for $60,000 and appropriate $40,000 ($20,000 for FY 22/23 and $20,000 for FY 23/24) from the General Fund to fund the increase in requested services.
body
Deadline for Action: 6/20/2022
Submitting Department: Community Development
Contact Name and Phone Number: Devon Jones, 4190
Department Recommendation:
Authorize staff to execute the annual service agreement with Visalia Economic Development Corporation (VEDC) for $60,000 for FY 2022/23 services. This contract includes a one year extension. The agreement for service includes a $20,000 annual increase due to increased service deliverables requested by the City of the VEDC, outlined in more detail below, in addition to service expectations that may impact VEDC's ability to generate private memberships. It has been more than a decade since the City has increased it's payment to the VEDC.
Background Discussion:
The City has partnered with the Visalia Economic Development Corporation (VEDC) for economic development services since its inception in 1996. The VEDC was instrumental in the development of the industrial park and services today focus more on marketing of 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 VEDC is currently in a period of transition as they are going to bring on a new Executive Director with the upcoming retirement of Nancy Lockwood from this post. The VEDChas selected Bruce Nicotero, former General Manager of JoAnn's Distribution Center in the Visalia Industrial Park (VIP), as the new Executive Director. Staff has worked with Mr. Nicotero for many years and is confident that he will effectively lead the VEDC and deliver requested services in this city service agreement. In ...
Click here for full text