Placement: Consent Agenda
Action Requested: Motion / Vote
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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.
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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.
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