Submitted By: Marie Mesadieu
presenter
Presentation By: Aubrey Hale
end
Department: Growth Management
STAFF RECOMMENDATION (Motion Ready):
title
Approve annual agreement for business creation, retention, and attraction services with the Ocala Metro Chamber & Economic Partnership in the amount of $190,000
end
OCALA’S RELEVANT STRATEGIC GOALS:
Economic Hub
PROOF OF PUBLICATION:
N/A
body
BACKGROUND: The Ocala Metro Chamber & Economic Partnership (CEP) requested $190,000 from the City's Fiscal Year 2024-25 budget to support business creation, retention, and attraction. The initial CEP request occurred in 2012 when the City agreed to a quarterly expenditure to promote and enhance its economic growth. There has been an agreement in each subsequent year. Prior to the creation of the CEP, agreements existed between the City and the Economic Development Council.
Starting in Fiscal Year 2019-20, the City Council recommended funding the CEP at $190,000 annually and requested that the City and CEP enter into a service agreement. Subsequently, the City Council adopted the budget, including the requested $190,000 in funding. City staff and CEP representatives negotiated the requested agreement, including the following initiatives: NEXTworking, which engages students with businesses in career development events, and IMPACT, which provides targeted assistance to entrepreneurs.
Staff recommends approval of the agreement to further establish Ocala as an economic hub. The proposed Fiscal Year 2024-25 Business Creation, Retention, and Attraction Services Agreement (Agreement) is attached for the Council's action.
FINDINGS AND CONCLUSIONS: The CEP is Ocala/Marion County's designated representative to FloridaCommerce (formerly Enterprise Florida, Inc.), the official economic development organization for the State of Florida. The CEP also represents the community as a FloridaCommerce Stakeholders’ Council member.
In Fiscal Year 2023-24, the City funded the CEP at $190,000. The agreement sets minimum requirements for the CEP to achieve and provides for termination by either party in case of default. The CEP has consistently worked to increase jobs and provide support to business and institutional partners locally and regionally. The CEP has met the terms of the previous agreement and qualified for the quarterly payments. A summary of the CEP’s performance during Fiscal Year 2023-24 is attached.
City staff and the CEP have revised the existing agreement to include minor changes to the operation of the Power Plant business incubator, emphasizing a minimum occupancy rate to be maintained throughout the year. The Agreement now captures the critical role of the CEP in convening the Financial Review Committee (FRC) and establishes a target for attracting prospective visits to the Ocala Airport Business Park. If approved, the proposed Agreement will be effective until September 30, 2025. Staff recommends approval of the Agreement.
FISCAL IMPACT: Funds are available in the Economic Investment Program account #674-099-999-559-81-34010.
PROCUREMENT REVIEW: This agreement will be reviewed for compliance with the City’s Procurement Policy.
LEGAL REVIEW: This agreement will be reviewed and approved for form and legality by the City Attorney, William E. Sexton.
ALTERNATIVE:
• Approve with changes.
• Instruct staff to negotiate an alternate agreement.
• Deny
• Table