AGENDA MEMORANDUM

Meeting Date: July 11, 2011

From:                          Ken Thomas, Director of Housing & Economic Development

Subject:                      Resolution authorizing  the Lake County Incubator Agreement between Lake County, University of Central Florida Research Foundation and Leesburg

Staff Recommendation:

Staff recommends approval of the annual staffing agreement between the City of Leesburg, Lake County and the University of Central Florida Research Foundation (UCFRF) for the Leesburg Business Incubator.

Analysis:

The Leesburg Business Incubator was established in June 2007 to provide eight office spaces to new and emerging businesses.  The Incubator program currently has four resident clients, three off-site clients and three on-site available offices for new companies.  To date, the Incubator has created seventeen existing jobs and four companies have graduated from the Business Incubator program.    

The City/County and University-driven community partnership agreement provides early stage companies in Lake County with the enabling tools, training and infrastructure to create financially stable, high-impact enterprises leading to sustained job creation and growth.  The Incubator has been a valuable resource for Lake County and the City of Leesburg. 

Options:

1.  Approve the Incubator Services Agreement; and/or

2.  Such alternative action as the Commission may deem appropriate

Fiscal Impact: 

No fiscal impact, the cost of the Site/Incubator Manager and services will be paid by Lake County Government.

Submission Date and Time:    7/7/2011 11:30 AM____

Department: ______________________ Prepared by:  ______________________                       Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                           Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________

RESOLUTION NO._______________

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF LEESBURG, LAKE COUNTY GOVERNMENT AND THE UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION, TO PROVIDE STAFFING AND SMALL BUSINESS TECHNICAL SERVICES AT THE LEESBURG BUSINESS INCUBATOR; AND PROVIDING AN EFFECTIVE DATE. 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

            THAT the Mayor and City Clerk are hereby authorized to execute an agreement  with Lake County Government Office of Economic Development and Tourism, Economic Development Division,  whose address is 315 West Main Street, Tavares, FL 32778, and University of Central Florida Research Foundation whose address is 12201 Research Parkway, Suite 501, Orlando, Fl 32826 and the City of Leesburg to provide administrative support, an incubator facility to encourage job growth and economic development in Lake County.

 THAT this resolution shall become effective immediately.

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _11th____ day of _July________ 2011.

                                                                            __________________________

                                                                             Mayor

ATTEST:

____________________________________

City Clerk