TITLE
Consider a memorandum/resolution to enter into an agreement with the Greater Killeen Chamber of Commerce for economic development services.
SUMMARY
DATE: September 4, 2018
TO: Ronald L. Olson, City Manager
FROM: Jonathan Locke, Executive Director of Finance
SUBJECT: Greater Killeen Chamber of Commerce Agreement
BACKGROUND AND FINDINGS:
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. 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 for this agreement has been included in the proposed budget in an amount of $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.
THE ALTERNATIVES CONSIDERED:
1. To not enter into an agreement with the Greater Killeen Chamber of Commerce.
2. To enter into an agreement with the Greater Killeen Chamber of Commerce.
Which alternative is recommended? Why?
Staff recommends option 2.
CONFORMITY TO CITY POLICY:
This action supports City of Killeen Vision 2030 Goal 1: Quality Community Development and Revitalization and Goal 8: Targeted Economic Development.
FINANCIAL IMPACT:
What is the amount of the expenditure in the current fiscal year? For future years?
$338,700
Is this a one-time or recurring expenditure?
Recurring
Is this expenditure ...
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