Placement: Consent Agenda
Action Requested: Motion / Vote
title
Approve an Agreement Between the City of Port St. Lucie and the Economic Development Council of St. Lucie County to Facilitate Economic Development and Related Services in the City of Port St. Lucie.
body
Submitted By: Elijah Wooten, Business Navigator.
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Melany Crawford, Chief Assistant City Attorney.
2. Parties: City of Port St. Lucie and the Economic Development Council of St. Lucie County (EDC).
3. Purpose: To expand the EDC’s operational capacity and partially fund an EDC staff position.
4. New/Renewal/Modified: New.
5. Duration: The Agreement with the EDC covers a period of three years commencing on October 1, 2021 and terminating on September 30, 2024.
6. Benefits to Port St. Lucie: Attracting and retaining capital investment and high-wage jobs in Port St. Lucie.
7. Cost to Port St. Lucie (Annual and Potential): The City will provide $150,000, annually, for three years ($450,000 total) through the City’s budget process.
Presentation Information: N/A
Staff Recommendation: Move that the Council EDC.
Alternate Recommendations:
1. Move that the Council amend the recommendation and EDC.
2. Move that the Council not approve the Agreement with the EDC and provide staff direction.
Background: The EDC is a private 501C 6 not-for-profit corporation that attracts new business, supports the expansion and retention of existing businesses and advances community and economic development in the region.
Issues/Analysis: The EDC has experienced an increase in business attraction efforts and requirements for ongoing project management for companies that are expanding and relocating to Port St. Lucie. The EDC needs to expand their operational capacity and hire an additional professional staff to accommodate the growth and demand for services.
Financial Information: The EDC is requesting their annual allocation of $80,000 be increased to $150,000 to expand their operational capacity. The term of the agreement is a three-year period commencing on October 1, 2021 and terminating on September 30, 2024.
Special Consideration: During the 2021 Summer Retreat, the City Council approved increasing the EDC’s funding from $80,000 to $150,000. The EDC has experienced an increase in business retention and attraction activity in Port St. Lucie and will need to hire additional professional staff to accommodate the increased workload.
Location of Project: Port St. Lucie citywide.
Attachments:
1. EDC request letter.
2. Proposed EDC Agreement.
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: 6930
Legal Sufficiency Review:
Reviewed by Melany K. Crawford, Chief Assistant City Attorney. Approved as to Legal form and sufficiency by James D. Stokes, City Attorney.