Description: AGENDAHED.JPG

Item No: 4.C.6.

 

Meeting Date: February 27, 2012

 

From: Ken Thomas, Director of Housing & Economic Development

 

Subject: Resolution authorizing execution of a Tri-Party Agreement among University of Central Florida Research Foundation, Lake County Government, and the City of Leesburg to manage and operate the Leesburg Business Incubator

 

 


Staff Recommendation:

Staff recommends approval of the tri-party agreement to provide a Business Incubation facility,

administrative and technical support to aid in development of companies located in Lake County.

 

Analysis:

The subject agreement is a continuation of services provided by UCFRF and Lake County Government that has been in existence since January 2009. The agreement will provide funding to UCFRF to provide incubation services to companies in Lake County at the Leesburg Business Incubator. The UCFRF will review client applications, conduct the screening and selection process. In addition, the agreement will provide the Excellence in Entrepreneurship Course developed for potential Incubator entrepreneurs.

 

The UCFRF will provide the following services:

         Utilize service provider network and expand to additional resources focused on later stage incubator companies;

         Utilize educational programs available through the National Entrepreneur Center (NEC) and resident small business service providers;

         Provide marketing for the Incubator and its clients;

         Use existing criteria to graduate companies out of the program;

         Provide staffing for the Incubator;

         Providing annual reports which shall include, but not be limited to, recommendations relative to the continuing development and operation of the Lake County Incubator.

         Provide a verbal report to the Board of County Commissioners.

 

In summary, UCFRF will continue to operate an incubator in cooperation with Lake County at the Leesburg Business and Technology Center. This includes hiring, training, and managing staff, selecting and managing clients, establishing mentoring and coaching programs, and establishing criteria for graduating companies into the community.

 

 

 

Options:

1. Approve the tri-party agreement or;

2. Such alternative action as the Commission may deem appropriate

 

Fiscal Impact:

The City receives on average $14,500 of annual revenue from Client lease payments.

 

Submission Date and Time: 2/24/2012 10:39 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._____________

 

 

RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A TRI-PARTY AGREEMENT AMONG UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION, LAKE COUNTY GOVERNMENT, AND THE CITY OF LEESBURG TO MANAGE AND OPERATE 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 among Lake County Government whose address is 315 West Main Street, Post Office Box 7800, Tavares, Florida 32778, University of Central Florida Research Foundation, Incorporated, 12201 Research Parkway, Suite 501, Orlando, Florida 32826-3246, and the City of Leesburg, 600 Market Street, Leesburg, Florida 34748 for Incubation Services.

 

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 _27th ____ day of _February________ 2012.

 

 

 

__________________________

Mayor

 

ATTEST:

 

 

__________________________________

City Clerk