PRESENTER: Presenter
Jeff Jewell, Economic and Community Development Director
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SUBJECT: Title
Presentation and discussion on a proposed administrative support and professional services contract with the City of New Braunfels.
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DEPARTMENT: Economic and Community Development
BACKGROUND INFORMATION:
The New Braunfels Economic Development Corporation (NBEDC) maintains a contract with the City of New Braunfels for administrative and professional services in support of the NBEDC’s mission. Specifically, the contract requires the City to perform administrative and professional services tasks such as contract development and management, pay applications, company and incentive auditing services, fiscal impact analysis, and record keeping. Additionally, the city manages feasibility, engineering, design and construction activities of NBEDC initiated projects. Currently, approximately $11.4 million in approved projects are in some phase of design and construction plan development.
The following modifications are proposed for the FY25 Contract:
- $25,000 increase that is earmarked to address operating and asset management costs for NBEDC-owned properties
- $25,000 earmarked for costs for additional planning and feasibility studies for future NBEDC-affiliated projects. This will provide some level of pre-approved funding for initiatives not specifically identified but that staff can undertake at the direction of the NBEDC as approved in the services agreement and adopted with the budget
This increase will be recognized as budget line increases to maintenance services and professional services in the Economic and Community Development Department’s 2024-2025 budgets. Staff plans to bring the FY25 contract for potential action at the August 15, 2024 NBEDC Meeting. If approved, it will then be incorporated into the City’s overall budget approval process.
ISSUE:
The City is proposing the FY25 contract be increased by $50,000. This increase will provide funding for maintenance and asset management costs of NBEDC-owned properties, and support planning and feasibility studies for future NBEDC projects. The proposed FY25 contract with the City of New Braunfels is proposed to be a total amount of $455,386.
STRATEGIC PLAN REFERENCE:
☒Economic Mobility ☐Enhanced Connectivity ☐Community Identity
☐Organizational Excellence ☐Community Well-Being ☐N/A
FISCAL IMPACT:
Up to $455,386. The NBEDC has funding available for this services agreement.
Recommendation
RECOMMENDATION:
N/A