| | | | | | | |  | City Council
Staff Report
|
|
| | | | | | | |
| Subject: | Economic Development Agreement between the Greater Sacramento Economic Council and the City of Rocklin for FY 2019/20
|
|
| | Date: | May 14, 2019 |
|
| | Submitted By: | Steven Rudolph, City Manager |
|
| | Department: | City Manager's Office |
|
| | | | | | | | Staff Recommendation: | Adopt a Resolution authorizing the City Manager to execute an Economic Development Agreement between the Greater Sacramento Economic Council and the City of Rocklin for a term of one year for a total amount of $26,732.
|
|
| | | | | | | | | BACKGROUND: | The Greater Sacramento Economic Council (Greater Sacramento) is an economic development organization working through a public-private partnership of local businesses and governments to retain, attract, grow, and create sustainable businesses in the six-county Sacramento Region, including El Dorado, Placer, Sacramento, Sutter, Yolo, and Yuba Counties and the 23 cities therein. Greater Sacramento is now in its fourth year of working toward building an advanced economy in the Sacramento region.
Greater Sacramento is guided by and strategically focused on the following specific long-range goals: 1) develop and utilize in-depth data and analytics to guide strategic economic development efforts and improve the region’s competitive position; 2) strategically market the region to generate qualified company prospects in targeted economic clusters; and, 3) leverage public and private partners and resources to locate qualified prospects.
The purpose of this Economic Development Agreement is to set forth the regional economic development program that Greater Sacramento agrees to undertake, the support that the City of Rocklin agrees to provide, the respective roles of Greater Sacramento and the City of Rocklin, and the payments of the City of Rocklin to Greater Sacramento for the fiscal year ending June 30, 2020.
The Economic Development Agreement provides for mutual cooperation between the City of Rocklin and Greater Sacramento. Additionally, the agreement provides for representation by the City of Rocklin on both the Greater Sacramento Board of Directors and the Greater Sacramento Economic Development Directors Taskforce (EDDT).
The City of Rocklin entered into four prior Economic Development Agreements with the Greater Sacramento Economic Council for FY 2015/16, FY 2016/17, FY 2017/18, and FY 2018/19. The annual payments under these prior agreements were the same (per capita) as the amount due under the proposed new agreement.
Pursuant to the proposed Economic Development Agreement, the City of Rocklin would agree to pay $26,732 for services to be provided by Greater Sacramento during the fiscal year ending on June 30, 2020. This amount is based on $0.40 per capita applied to the City of Rocklin’s population as reported in 2018 population estimates from the California Department of Finance Demographic Research Unit, which listed the City of Rocklin as having a population of 66,830.
|
|
| | | | | | | | | Fiscal Impact: | Under the terms of the Agreement, the City of Rocklin agrees to pay a membership fee of $26,732 for services to be provided by Greater Sacramento pursuant to the Agreement during the fiscal year ending on June 30, 2020.
Subject to approval by the City Council, funding for this commitment will be included in the 2019/20 General Fund – City Manager’s office budget.
|
|
| | | | | | | | | This Staff Report has been reviewed by the City Attorney for legal sufficiency and by the City Manager for content. |
| | | | | | | | | The ACM/CFO has reviewed this staff report and certifies that budgeted funds are available, unless a budget amendment is being requested as part of this action item. |
|