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AGENDA ITEM REVIEW FORM |
2.B.
Work Session
- Meeting Date:
- 07/01/2020
- Department Head:
- Tadeo A. De La Hoya
- Submitted By:
- Francia Alonso, Assistant to Council/PIO, Administration
Action Requested:
Discussion Item - No Action to be Taken
ITEM:
Discussion and possible directions to staff on any and all matters regarding the agreement with Greater Yuma Economic Development Corporation for Fiscal Year 2020-2021. (Tadeo A. De La Hoya, City Manager and Francia Alonso, Assistant to Council/PIO)
SUMMARY:
Service: The Greater Yuma Economic Development Corporation (GYEDC) is a non-profit corporation which provides services focused on attracting commerce and industry to the region, and on assisting in developing the region's existing industry to its fullest potential. The agreement sets out the city's goals for GYEDC and how GYEDC will meet those goals. Some of the specifics are: identifying 10 qualified business prospects to locate in San Luis; a marketing plan and implementation of it; promotion of the incubator; and expanding systems of a collection of demographic statistics and indicators needed by manufacturers, distributors, retailers, and developers.
Amount: The city has entered into an agreement with GYEDC for economic development services in the past and has already budgeted $51,254.00 for services to continue until the end of the Fiscal Year 2020-2021. While the letter reflects a different amount, during the budget meeting held May 6, 2020, GYEDC requested the amount to remain the same as the previous fiscal year due to COVID-19 impacts.
Amount: The city has entered into an agreement with GYEDC for economic development services in the past and has already budgeted $51,254.00 for services to continue until the end of the Fiscal Year 2020-2021. While the letter reflects a different amount, during the budget meeting held May 6, 2020, GYEDC requested the amount to remain the same as the previous fiscal year due to COVID-19 impacts.
RECOMMENDATION / SUGGESTED MOTION:
Discussion and possible directions to staff only, no action.
Fiscal Impact
- IS THERE FISCAL IMPACT ASSOCIATED WITH THIS ITEM:
- Yes
- CITY/STATE/FEDERAL FUNDS:
- City
- TOTAL:
- $51,254.00
- BUDGETED AMOUNT:
- NA
- AVAILABLE AMOUNT TO TRANSFER:
- No transfer required
- ACCT NAME & GL#/REMAINING BALANCE BEFORE PURCHASE:
- 100-110-80000 CONTRACTUAL SERVICES/ $395,146.42
FISCAL IMPACT STATEMENT (IF THIS IS A BUDGET TRANSFER, YOU MUST ATTACH THE BUDGET ADJUSTMENT FORM):
These funds are budgeted in FY 2020-21.