TAMRMS#: B06
9.2
REQUEST FOR DECISION
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Collaborative Economic Development
Presented by: Bill Fletcher, CAO
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RECOMMENDED MOTION(S)
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That Mayor Heron, on behalf of Council, sign the Collaborative Economic Development MOU committing the City of St. Albert to CED for a two-year term.
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SUMMARY
A Memorandum of Understanding (MOU) has been developed to confirm regional partners' continued participation in the Collaborative Economic Development (CED) initiative and to commit a budget to its implementation.
The key terms outlined in this new MOU are:
* A 2-year commitment to:
o CED membership
o Funding budget requirements
* $12,000 per year for tool hosting and maintenance, to be divided equally between partners.
* Up to $10,000 per year, per partner for administration costs including tool vendor management, tool training and framework support, Council support and facilitation of CED committees.
* CED program administration costs will be incurred at the discretion and with the approval of the Strategic Committee.
* The initial term will automatically renew every two years beginning January 1st, 2027, unless a formal letter of intent to leave CED is provided to the CED Strategic Committee in accordance with the CED Governance Plan.
The signing of the MOU and commitment to the implementation of the CED Framework will support increased regional non-residential activity in the form of enhanced employment creation, increased investment and human capital attraction, innovation, and trade capacity expansion. Most importantly, CED will enable municipalities to seek an investment partner to offset costs and share in newly generated incremental non-residential tax revenue, which previously was not possible in our region.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On June 7, 2022, Council passed the following motion:
AR-22-239
That Council authorize the Chief Administrative Officer to execute a grant agreement wi...
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