Agenda Information Sheet
DEPARTMENT: Development Services/Economic Development Division
CM/ ACM: Jon Fortune
Date: August 23, 2016
SUBJECT
Title
Receive a report, hold a discussion, and give staff direction regarding the agreement between the City of Denton and the Denton Chamber of Commerce providing for a program to promote economic development through joint efforts.
Body
BACKGROUND
The City Council and the Denton Chamber of Commerce first entered into an economic development partnership agreement in 1986. The City provides General Fund and Utility Fund dollars to the Chamber for the administration and operations budget of its Office of Economic Development, which uses the funds for:
* Prospect generation activities
* Marketing activities, i.e. trade shows, publishing/printing, website administration, marketing materials
* Economic Development Partnership Board support
* Small Business Development Center support
In addition to City funds, the Chamber of Commerce solicits private sector funding to enhance marketing and allies development efforts. Private sector funding has been budgeted for the current FY 15/16 year in the amount of $63,875.
On June 28, 2016, the City Council received a report regarding Novaces Consulting Firm's Agile Economic Development Report. The report was a result of a holistic review of the development process from first contact with a prospect to issuance of a Certificate of Occupancy. Several recommendations were made as a result of the report, including a proposal to bring prospect RFP responses into the City for efficiency and quality control. Additionally, the report recommended the implementation of a Marketing Scorecard by the Chamber of Commerce, to measure the effectiveness of economic development marketing efforts. The City Council gave direction to staff during the Work Session to proceed with implementation. In order to implement these recommendations, some changes will be required to the annual Economic Developmen...
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