Description: AGENDAHED.JPG

Item No:                    4.C.7.

 

Meeting Date:           June 25, 2012

 

From:                          Ken Thomas, Director

                                    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 was initatially approved by the City Commission on February 27, 2012, which Section 6 Term states, “The Agreement shall be effective from the date the last party hereto executes this Agreement, and shall remain effective for one (1) year thereafter (February 27, 2012 to February 27, 2013).  Subsequently UCF and Lake County decided to revise Section 6 Terms of the agreement to state “the agreement shall be effective from January 1, 2012 and shall remain effective for one (1) year thereafter (January 1, 2012 to January 1, 2013). 

 

The agreement signed in 2011 technically terminated on January 12, 2012, therefore UCF wanted to ensure the contract was seamless and not out of date for funding purposes.  The agreement has provided continuation of services provided by UCFRF and Lake County Government since January 2009.  The agreement will provide funding to UCFRF to offer 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 Incubator. 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 approximately $14,500 of annual revenue from Incubator client lease payments. 

 

 

Submission Date and Time:    6/22/2012 2:29 PM____

 

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 AN TRI-PARTY AGREEMENT BETWEEN LAKE COUNTY, UNIVERSITY OF CENTRAL FLORIDA RESEARCH FOUNDATION AND THE CITY OF LEESBURG FOR INCUBATOR SERVICES; 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 _25th____ day of __June_______ 2012.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

_________________________________

City Clerk