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Agenda Request |
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Agenda Of: |
10/18/06 |
Agenda Request No: |
IV A |
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Initiated By: |
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Responsible Department: |
economic development |
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Presented By: |
director of economic development |
Department Head: |
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Additional Department. Head (s): |
Jennifer Brown Asst. Fiscal Svcs Director |
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Subject / Proceeding: |
consideration and action on the contract between the |
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Exhibits: |
contract between the |
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Clearances |
Approval |
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Legal: |
Joe morris, city attorney |
Executive Director: |
joseph esch, business & intergovernmental relations |
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Budget |
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Expenditure Required: $ |
30,000 |
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Amount Budgeted/Reallocation: $ |
30,000 |
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Additional Appropriation: $ |
n/a |
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Recommended Action |
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Approve contract. |
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Executive Summary |
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Attached for the Board’s consideration and action is a contract between the Greater Fort Bend Economic Development Council (GFBEDC) and the Sugar Land Economic 4B Corporation. The contract with the GFBEDC is renewed annually and the amount has been budgeted and approved for in the Corporation’s budget. This contract is not substantially different from the agreement approved last year by the Board, but does address changes in the operations of the GFBEDC. The Business Incentive Committee has reviewed the changes in concept and concurs with staff’s recommendation. |
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Exhibits |
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CONTRACT
BETWEEN THE
AND
THE GREATER FORT BEND ECONOMIC DEVELOPMENT COUNCIL
This
Contract is made between the
Recitals:
The
City has adopted an economic development sales tax and created the Sugar Land
4B Corporation to use the proceeds thereof to fund projects and promote
economic development activities as authorized by section 4B of the Development
Corporation Act of 1979 (Tex. Rev. Civ. Stat. art. 5190.6). The
Agreement:
In
consideration of the mutual promises of each, the
A. Definitions. In this Contract:
City means the City of Sugar Land.
Economic Development Funds means the funds paid by the SL4B to the GFBEDC under this Contract.
GFBEDC means the Greater Fort Bend Economic Development Council.
Primary
Sector means any manufacturer, assembler or service business where the
primary source of revenue is generated from activities that create revenues
beyond the
SL4B
means the
B. Appointments to the GFBEDC Board of Directors. The GFBEDC will allocate two seats on the GFBEDC Board of Directors to the City. One seat will be allocated to the City Manager and the other seat will be filled by appointment of the City Council. The City’s Executive Director of Business Development and Intergovernmental Relations or his or her designee may also attend the Board of Directors Meeting. In the absence of either or both of the City appointees, the City’s Executive Director of Business Development and Intergovernmental Relations may represent the City at the GFBEDC Board of Director meetings.
C. SL4B to Pay Economic Development Funds. The SL4B will pay $30,000 annually to the GFBEDC for the services rendered by the GFBEDC under this Contract. The GFBEDC will use the Economic Development Funds for day-to-day operations, supplies, salaries, office rental, travel expenses, and other administrative costs that are directly related to the promotion of economic development activities as set forth in this Contract. The GFBEDC will maintain complete and accurate financial records regarding all expenditures made by the GFBEDC. The City and the SL4B have the right to inspect the financial records and expenditures made by GFBEDC. The City and the SL4B shall receive copies of the monthly financial statements submitted to the board of directors of the GFBEDC. The GFBEDC will make regular reports to SL4B through periodic meetings with the City’s economic development department relating to the activities performed under this Contract. The annual payment to be made herein will be made in one installment of $30,000 in November, 2006.
D. Services to be provided by GFBEDC. In consideration of the SL4B’s payment of Economic Development Funds, GFBEDC will:
1. Undertake activities, as directed by the City, that are intended to retain and expand existing primary sector businesses and commercial activity in the area and to promote and advertise the benefits of locating selected new primary sector business and commercial activities in Sugar Land to achieve one or more of the following:
a.
The
retention of existing jobs and the creation of new jobs with a primary focus on
jobs with wages at or above the average prevailing wage in the City.
b.
Increase
the commercial ad valorem tax base of the City by attracting new businesses in
primary sector industries with a primary focus on projects that offer jobs at
or above the average prevailing wage in the City.
c.
Encourage the diversification of the local economy
to make it more impervious to state and national economic recession.
d. Promote planning for and construction of necessary
infrastructure to promote economic development.
e.
Assist in the coordination of economic development
activities and efforts among and between political subdivisions, organizations,
institutions, and companies in the area.
f.
Coordinate tax abatement procedures between
taxing entities including the preparation of economic impact statements for
projects to be considered for abatement by the City.
- Meet periodically with the City’s economic development department to coordinate activities undertaken by the GFBEDC related to projects or programs, which may locate or impact the City of Sugar Land as well as other issues such as press release development and distribution that may impact the City to ensure a positive and consistent outcome.
3.
Upon request from the City Manager or Economic
Development Department, present project impact statements and recommendations
to the City’s Business Incentive Committee on tax abatement applications for
projects seeking to locate in
E. Reports Provided to the City by GFBEDC. GFBEDC will provide the SL4B through the City of Sugar Land with:
1. Monthly Business Recruitment Prospect Reports in the format mutually agreed by the City and GFBEDC on projects which impact the City of Sugar Land and where the GFBEDC is involved.
2. A copy of the annual summary report to the membership detailing the activities the GFBEDC has undertaken during the term of the contract.
F. Term and Termination. This Contract is effective on the last date of the dates executed by the parties and will continue in effect until the following September 30. Either party may terminate this Contract by giving the other party at least 60 days written notice of the termination
G. Contact Person. The GFBEDC, its officers, employees, agents and representatives will direct all information, inquires, and communications relating to the activities addressed or provided for in this Contract or other development matters which relate to the City to the City Manager or his or her designee.
H. Notice.
Any notice provided pursuant
to this Contract is effective when deposited in the
To the SL4B c/o: City Manager
City of
To the GFBEDC: President
Greater
One Fluor Drive
I. Assignment. This Contract may not be assigned by the GFBEDC.
DEVELOPMENT COUNCIL
________________________ By:_________________________
President Title: _______________________
Date: ___________________ Date:________________________
ATTEST/SEAL:
________________________
Glenda Gundermann, City Secretary
Reviewed for Legal Compliance:
