HomeMy WebLinkAboutAgenda CC 01.10.2006Council meeting date: January 10, 2006
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AGENDA ITEM COVER SHEET
SUBJECT:
Item No.
Consideration and possible action to approve a Resolution approving the Bylaws of the
Georgetown Economic Development Corporation (GEDCO).
ITEM SUMMARY:
Board Members of the Georgetown Economic Development Corporation (GEDCO) approved its
proposed Bylaws at its December 13, 2005 meeting. In accordance with the Articles of
Incorporation for GEDCO, the form of the Bylaws must be approved by the City Council.
ATTACHMENT
1. Resolution
a-- 2. Proposed Bylaws for GEDCO
Submitted by:
Paul E. Brandenburg, City Manager
City Attorney
Council Meeting Date: January 10, 2006 Item No. X
AGENDA ITEM COVER SHEET
SUBJECT: Consideration and approval of an inter -local operating contract between the City of Georgetown
and GEDCO for the 2005/06 fiscal year.
ITEM SUMMARY
The Bylaws (Section 3.08) of the Georgetown Economic Development Corporation (GEDCO) require GEDCO
to contract with the City for the administrative services provided by the general manager, economic
development director, and other City staff. GEDCO shall provide reasonable compensation to the City for these
services which include:
• Economic Development staff duties
• Contract management
• Accounting & financial reporting
• General Manager duties and responsibilities
The monthly fee was estimated by staff at $5,000, per month, however GEDCO proposes $3,000 per month for
the administrative services listed above for the first year. After the first year, an accounting will be done based
upon actual hours and costs and the contract reviewed at that point.
Legal expenses are to be billed separately, at actual cost.
COMMENTS
This contract was approved by the GEDCO board at its December 13, 2005 meeting.
FINANCIAL IMPACT:
Revenues from this contract were not included in the preparation of the 2005/06 City Manager's Budget, but will
be used to offset expenses being incurred for the administration of the corporation.
ATTACHMENTS
Proposed Interlocal Agreement
Submitted
Micki Rundell '
Director of Finance and Administration
P:\AGENDA\2006\GEDCOTOCOUNCIL\adminsvr-s2OO6.doc