HomeMy WebLinkAboutAGENDA REPORT 1997 0219 CC REG ITEM 09EMOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: Steven G. Hayes, Economic Development/Red7f4r)mrnt
Manager
DATE: February 7, 1997 (Mtg. 02/19/97)
SUBJECT: Consider Matching Funds for Economic Development
Collaborative- Ventura County
SUMMARY
A recent request from the County of Ventura for the City of
Moorpark to assist the Economic Development Collaborative - Ventura
County (EDC -VC) by funding the City's share of the matching find
for the EDA Grant was presented to the Economic Development
Committee (Councilmembers Bernardo Perez and Debbie Rodg ?rs
Teasley) at their meeting of January 28, 1996. After discussi3n,
the Committee was in favor of presenting this item to the CLty
Council recommending approval.
The City's share of funding assistance is based on the V.C.).G
formula, which has been reduced from the original request of
$25,145 to $9,000 which is $3,000 for Fiscal Years 1996/19)7,
1997/1998, and 1998/1999. This will meet the City's total share of
the cost for the 2 million dollar E.D.A. matching grant, which
provided the startup funds for the Collaborative. Staff has been
asked by the County to submit a funding request to the City Council
for approval. Only the Cities of Moorpark, Ojai and Filmore have
not approved funding at this time.
BACKGROUND
City staff received a letter dated April 9, 1996 (attached) from
Supervisor Frank Schillo and Supervisor Judy Mikels which contained
the formula for funding the first three (3) years of the Economic
Development Collaborative- Ventura County (EDC -VC).
The formula was based on an equal amount from each City and the
County ($6,945), an equal amount for each member (County $27,779
with four members and Cities at $6,945 with one member each) , a
share by percent of population ($3,049) for a total of $25,145 for
Moorpark over the three year period ($8,382 annually).
Wwrp
Each City was to recruit a business that would donate a one time
$10,000 donation for the right to sit on the 25 Executive Member
Board. Other board members would include ten City Board Members
and two County Board Members. Any person could have an affiliation
for an annual membership fee of $100.00.
The goal of EDC -VC at that time was to have $333,334 as a match for
the Economic Development Agency's matching grant. The funds are
being made available for various economic development projects,
administration costs, and a revolving fund for small business
loans. On May 23, 1996 the City approved the By -Laws and Articles
of Incorporation but deferred consideration of funding. The City
has not yet approved funds to support the startup costs of the
Collaborative.
DISCUSSION
There have been several economic development organizations
functioning in the County of Ventura. In December, 1995, the
Council for Economic Vitality was formally disbanded. In its place
two new organizations have been established which are the Economic
Development Collaborative - Ventura County (EDC -VC or the
"Collaborative ") and the Alliance for Economic Vitality (the
"Alliance "). It is staff's understanding that the Alliance is no
longer active.
A third organization that has been active in the County is the
Ventura County Economic Development Association ( VCEDA). Agency
staff attends some of the meetings held by VCEDA though the City is
not a member. VCEDA is attended and supported by the business
community and a representative from VCEDA sits on the board of the
Collaborative.
FUNDING
The Committee recommended that funding for the EDC -VC be allocated
from the General Fund Reserve in the amount of $9,000. Only $3,000
will need to be appropriated at this time. The subsequent $3,000
appropriations would be made as part of the budget adoption for
1997/1998 and 1998/1999.
Recommendation (ROLL CALL VOTE)
The Committee and staff recommend that the City Council approve
$9,000 of funding for EDC -VC and appropriate $3,000 from the
General Fund Reserve for Fiscal Year 1996/1997.
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