O-2007-3024-F - Laserfiche WebLink

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REQUEST FOR LPEDC BOARD AGENDA ITEM Agenda Date Requested: 2/25/2008 Bude:et ( Requested By: Gretchen Rlack Source of Funds: EDe Report: Resolution: Ordinance: Account Number: 038-6030-565-7001 (2) (4) & (5)* Amount Budgeted: $0 Department: Cit;" MaDllgerlEDC Exhibits: Amount Requested: $8.333 SUMMARY & RECOMMENDATION Attached you will find a copy of a revised lease agreement between the City and the Economic Alliance Houston Port Region which was approved by the City Council at the meeting of February 11th. As a part of the revised lease agreement staff recommended to the Council that funds for the payment of utilities be budgeted as an economic development activity and placed in the ED budget. The Council was also informed that a budget adjustment in an amount not to exceed $8,333 would be requested at the next LPEDC meeting_ on February 25, 2008. ( The Alliance is required as a part of the agreement to provide specific deliverables to the City as referenced in the attached exhibits to the agreement. In addition to the deliverables, they are also making improvements to the building at 908 and bringing to the partnership fayade enhancements at 912 through Project Stars and other building improvements to the 912 location. In order to compensate them for the monies expended for our buildings and to be able to budget for and control the yearly reimbursement amounts we recommend that we continue to pay the utilities in an amount noliD exceed $8,333 per year. Any amounts in excess of $8,333 paid for the utilities will be a credit to the City to off-set expenses for any additional deliverables, building improvements to 908 and/or for improvements and fayade enhancements to the 912 location. Normally the sequence of approvals would have been through the Board first and then, if- necessary, to the City Council. However, we needed to seek Council approval for the lease agreement in order to move forward with the RFP for the strategic plan. The Alliance staff will be providing the preliminary SWOT analysis and facilitating the initial meetings necessary for the kick-off of the project. The budget adjustments requested are as follows: 038-6030-565-70.01 038-6030-565-70.02 038-6030-565-70.04 038-6030-565-70.05 $ 7,000 $ 700 $ 333 $ 300 $ 8,333 ) TOTAL (- --- r;