TITLE
Consider a memorandum/resolution approving an agreement with the Greater Killeen Chamber of Commerce to provide economic development services.
SUMMARY
AGENDA ITEM
Agreement with Greater Killeen Chamber of Commerce
ORIGINATING DEPARTMENT
City Manager
BACKGROUND INFORMATION
On September 29, 1987, the City of Killeen entered into an agreement with the Greater Killeen Chamber of Commerce (GKCC) providing for economic development services and appropriating funds accordingly; the agreement has continued to be in place since that time. The agreement sets forth the means by which funds will be paid and the projects for which the City's funds may be spent.
DISCUSSION/CONCLUSION
For many years the City Council has identified economic development as one of the highest priorities for the City. The agreements with the GKCC and the Killeen Economic Development Corporation have demonstrated the City's continuing commitment to economic development. The proposed agreement is for a two-year term, and funding in an amount up to $677,400 is included in the proposed budget. A consensus among City Council members was reached at the September 6, 2016 workshop to reduce the FY 2017 GKCC allocation by 50% which equates to $338,700. The City determines each year’s allocation in consultation with the Chamber and sets out the responsibilities of the City and the GKCC, including provisions for the use of funds and financial reporting requirements.
RECOMMENDATION
That the City Council authorize the Interim City Manager to execute the attached agreement on behalf of the City and set the FY 2017 allocation for GKCC at $338,700.