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 Development Program Agreement between the City and the Chamber of Commerce.
PRIOR ACTION/REVIEW (Council, Boards, Commissions)
An Economic Development Program Agreement is adopted annually commencing October 1st, in conjunction with the adoption of the Chamber’s proposed budget as funding allocation from the City’s annual budget adoption.
The Economic Development Partnership Board considered the Chamber’s proposed FY 16/17 Budget on May 12, 2016 and recommends approval.
The City Council held a Work Session on June 28, 2016 and gave staff direction to implement the Agile Economic Development Report recommendations.
FISCAL INFORMATION
The Chamber’s Office of Economic Development requests $62,182 from the General Fund and $176,654 from the Utility Fund. The Chamber’s Economic Development Annual Budget is attached, providing details from 2012 to present.
STRATEGIC PLAN RELATIONSHIP
The City of Denton’s Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Economic Development
Related Goal: 3.1 Develop targeted policies and incentives to achieve desired economic growth
EXHIBITS
Exhibit 1 - Ordinance 2015-297 Economic Development Program Agreement
Exhibit 2 - Chamber Economic Development Budget
Exhibit 3 - Presentation
Respectfully submitted:
Aimee Bissett
Director of Development Services
Prepared by:
Aimee Bissett
Director of Development Services