Title
Approval to release Economic Development Funds
Body
SUMMARY:
City County budgeted matching funds for Economic Development through the Chamber of Commerce. The agreement was that in exchange for $40,000 from both the City and County, the Chamber would raise $120,000 from the private sector. The Chamber has exceeded their goal and requests the $40,000. The funds will be used for a target market analysis, workforce development, staff, and a potential feasibility study.
A request letter is attached summarizing their fund-raising efforts.
BUDGET ACCOUNT: 2015-16 budget 110-47210-710-001
Recommended Action
NECESSARY COUNCIL ACTION: Approve release of funds.