Title
An Ordinance approving a Public Service Agreement between the City of Lee's Summit, Missouri and the Lee's Summit Economic Development Council for services to be provided to the City and authorizing the City Manager to execute the same by and on behalf of the City. (F&BC 11/4/24)
Body
Issue/Request:
An Ordinance approving a Public Service Agreement between the City of Lee's Summit, Missouri and the Lee's Summit Economic Development Council for services to be provided to the City and authorizing the City Manager to execute the same by and on behalf of the City.
Key Issues:
Lee’s Summit Economic Development Council, Inc. (LSEDC) has presented a proposed three (3) year Public Service Agreement (PSA) with the City of Lee’s Summit. The PSA is structured to be subject to modification/renegotiation following hire of a President for the organization. Provided below are key deliverables within the PSA.
· LSEDC Deliverables
· Complete Phase 2 Elements of Letter Agreement dated April 23, 2024
· Operational Tasks
· Short Term Continuity of Operations Plan
· Board Member Conflict of Interest and Code of Ethics Policy
· Hire President
· Establish Strategic Plan - based on common success factors from “Best Practices for Economic Development Organizations” Thomas P. Miller and Associates.
· Comply with Accounting, Financial and Reporting Obligations
· City of Lee’s Summit Deliverables
· Issuance of Funds (subject to appropriation)
· 1st Term: $200,000 within 15 days of Effective Date of Agreement
· 2nd Term: $250,000 payable by July 15, 2025
· 3rd Term: $300,000 payable by July 15, 2026
Background:
The LSEDC presented an update of its work at the October 15, 2024 City Council meeting, highlighting the completion of all Phase One requirements of the Letter Agreement between the City of Lee’s Summit and LSEDC dated April 23, 2024. The Letter Agreement stipulated that the LSEDC would be eligible to present a proposal for a new Public Service Agreement to the City ...
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