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Item # 12.
         
Council Meeting 2023
Meeting Date: 10/25/2022  
Department: Economic Development  
Pillars: Innovation in Entrepreneurship & Business
Optimize the Addison Brand
Milestones: Leverage Addison's assets to grow and expand placemaking business programs and events that will set Addison apart to attract talent and businesses
AGENDA CAPTION:
Consider Action on a Resolution Approving an Agreement for Funding Between the Town of Addison and the Metrocrest Chamber of Commerce and Authorizing the City Manager to Execute the Agreement in an Amount Not to Exceed $38,500.

 
BACKGROUND:
For the last few years, the Town of Addison has provided grant funding to the Metrocrest Chamber of Commerce.  Two years ago, the agreement transitioned from a grant funding agreement to a service agreement managed by the Economic Development & Tourism Department.  The attached resolution includes the proposed service agreement is for Fiscal Year 2023.  The service agreement defines a work plan and quarterly reports that must be provided to the Town in order to qualify for payments.  The following is what they have proposed to achieve for the Town:
  1. Economic Development Marketing:
  1. Provide marketing support to Addison Economic Development department, including support and participation in the Annual Economic Development Luncheon.
  2. Conduct Business Expo with marketing targeted at Addison Businesses and provide educational sessions.
  3. Target Addison-based Chamber members to renew Business Registration.
  4. Conduct Economic Development Committee meetings with members, investors, local elected officials, and tri-city departments to advance the goals and mission of Addison Economic Development Department. 
  5. Collaborate on BREP (business retention and expansion program) targeted at Addison-based businesses and headquarters.
  1.  Entrepreneur Development/Small Business Support:
  1. Highlight local resources available to entrepreneurs (i.e. SBDCs, SCORE, etc.).
  2. Host at least one education event geared towards small business.
  3. Reach out to Addison Coworking spaces to provide resources to their members.
  4. Provide support to Addison ED and Tourism Department on new entrepreneurial initiatives
  1. Addison Business Profile Support:
  1. Organize and conduct annual Mayors’ Forum.
  2. Provide local leadership development opportunity via Leadership Metrocrest.
  3. Provide ribbon-cutting support for new Chamber members in the Addison area.
  4. Provide support to Bush elementary to connect them with the business community. 
  1. Develop Strategies to Connect the Addison Airport Community and the Addison Business Community
  1. Provide airport management, tenants, and users opportunities to attend and benefit from chamber events such as the Business Expo, Chairman’s Circle, etc.
  2. Increase awareness of airport, new customs facility, and third FBO to chamber members, work with key airport staff to development strategic community engagement.
  3. Work with airport staff to host at least one event at airport (virtual/in-person State of the Airport, Airport Appreciation program, etc.)
  1. Tourism Support:
  1. Consistent brand awareness for Addison, special events, and business amenities.
  2. Work with Tourism Manager and Special Events Department to promote hotel packages for Addison’s special events amongst chamber members and business community.
This year, the Metrocrest Chamber has requested a 10% or $3,500 increase in funding.  This will help cover inflationary cost increases experienced by the Chamber.  This brings the total value of the agreement to $38,500 which is paid in quarterly installments by the Town.  The FY 2023 work plan is very similar to FY 2022.  The Metrocrest Chamber of Commerce has worked closely with the Town to achieve their requirements as highlighted in their FY 2022 Work Plan, and Chamber staff has worked hard to bring value to the Town. 

The proposed scope of services was shared with Council Member Kathryn Wheeler, who serves as the liaison to the group, for her review prior to the development of the agreement. $35,000 in annual funding for the Chamber was approved in the FY 2023 Budget.  The additional $3,500 increase will be covered by the Economic Development Fund, and the Economic Development & Tourism Department will continue to manage the agreement.
RECOMMENDATION:
Administration recommends approval.
Attachments
Resolution - Metrocrest Chamber Service Agreement

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