CONTRACT
BETWEEN THE SUGAR LAND DEVELOPMENT CORPORATION
AND
THE GREATER FORT BEND ECONOMIC DEVELOPMENT COUNCIL
This Contract is made between the SUGAR LAND DEVELOPMENT CORPORATION and the GREATER FORT BEND ECONOMIC DEVELOPMENT COUNCIL.
Recitals:
The City has adopted an economic development sales tax and created the Sugar Land Development Corporation to use the proceeds thereof to fund projects and promote economic development activities as authorized by section 4A of the Development Corporation Act of 1979 (Tex. Rev. Civ. Stat. art. 5190.6). The Sugar Land Development Corporation wishes to enter into a contract under which the Greater Fort Bend Economic Development Council will provide services to promote economic development in the City of Sugar Land.
Agreement:
In consideration of the mutual promises of each, the Sugar Land Development Corporation and the Greater Fort Bend Economic Development Council agree as follows:
A. Definitions. In this Contract:
City means the City of Sugar Land.
Economic Development Funds means the funds paid by the SLDC to the GFBEDC under this Contract.
GFBEDC means the Greater Fort Bend Economic Development Council.
Primary Sector means any manufacturer, assembler or service business where the primary source of revenue is generated from activities that create revenues beyond the Houston metropolitan statistical area.
SLDC means the Sugar Land Development Corporation.
B. Appointments to the GFBEDC Board of Directors. The GFBEDC will allocate two seats on the GFBEDC Board of Directors to the City. One seat will be allocated to the City Manager and the other seat will be filled by appointment of the City Council. The City’s Executive Director of Business Development and Intergovernmental Relations or his or her designee may also attend the Board of Directors Meeting. In the absence of either or both of the City appointees, the City’s Executive Director of Business Development and Intergovernmental Relations may represent the City at the GFBEDC Board of Director meetings.
C. SLDC to Pay Economic Development Funds. The SLDC will pay $30,000 annually to the GFBEDC for the services rendered by the GFBEDC under this Contract. The GFBEDC will use the Economic Development Funds for day-to-day operations, supplies, salaries, office rental, travel expenses, and other administrative costs that are directly related to the promotion of economic development activities as set forth in this Contract. The GFBEDC will maintain complete and accurate financial records regarding all expenditures made by the GFBEDC. The City and the SLDC have the right to inspect the financial records and expenditures made by GFBEDC. The City and the SLDC shall receive copies of the monthly financial statements submitted to the board of directors of the GFBEDC. The GFBEDC will make regular reports to SLDC through periodic meetings with the City’s economic development department relating to the activities performed under this Contract. The annual payment to be made herein will be made in one installment of $30,000 by December 31, 2008.
D. Services to be provided by GFBEDC. In consideration of the SLDC’s payment of Economic Development Funds, GFBEDC will:
1. Undertake activities, as directed by and
coordinated with the City, that are intended to retain and expand existing
primary sector businesses and commercial activity in the area and to promote
and advertise the benefits of locating selected new primary sector business and
commercial activities in Sugar Land to achieve one or more of the
following:
a. The retention of
existing jobs and the creation of new jobs with a primary focus on jobs with
wages at or above the average prevailing wage in the City.
b.
Increase
the commercial ad valorem tax base of the City by attracting new businesses in
primary sector industries with a primary focus on projects that offer jobs at
or above the average prevailing wage in the City.
c.
Encourage the diversification of the local economy
to make it more impervious to state and national economic recession.
d.
Promote planning for and construction of
necessary infrastructure to promote economic development.
e.
Assist in the coordination of economic development
activities and efforts among and between political subdivisions, organizations,
institutions, and companies in the area.
f. Coordinate tax abatement procedures with the County based on City direction for the project.
- Meet monthly with the City’s economic development department to coordinate activities undertaken by the GFBEDC related to projects or programs, which may locate or impact the City of Sugar Land as well as other issues such as press release development and distribution that may impact the City to ensure a positive and consistent outcome.
E. Reports Provided to the City by GFBEDC. GFBEDC will provide the SLDC through the City of Sugar Land with:
1. Monthly Business Recruitment Prospect Reports in the format mutually agreed by the City and GFBEDC on projects which impact the City of Sugar Land and where the GFBEDC is involved.
2. A copy of the annual summary report to the membership detailing the activities the GFBEDC has undertaken during the term of the contract.
F. Term and Termination. This Contract is effective on the last date of the dates executed by the parties and will continue in effect until the following September 30. Either party may terminate this Contract by giving the other party at least 60 days written notice of the termination
G. Contact Person. The GFBEDC, its officers, employees, agents and representatives will direct all information, inquires, and communications relating to the activities addressed or provided for in this Contract or other development matters which relate to the City to the City Manager or his or her designee.
H. Notice. Any notice provided pursuant to this Contract is effective when deposited in the United States mail, either certified or registered mail, postage prepaid and addressed to the parties as follows:
To the SLDC c/o: City Manager
City of Sugar Land, Texas
Sugar Land Development Corporation
2700 Town Center Boulevard North
Sugar Land, Texas 77479
To the GFBEDC: President
Greater Fort Bend Economic Development Council
One Fluor
Drive
Sugar Land, Texas 77478
I. Assignment. This Contract may not be assigned by the GFBEDC.
SUGAR
LAND DEVELOPMENT GREATER
FORT BEND ECONOMIC
CORPORATION DEVELOPMENT COUNCIL
________________________ By:_________________________
President Title: _______________________
Date: ___________________ Date:________________________
ATTEST/SEAL:
________________________
Glenda Gundermann, City Secretary
Reviewed for Legal Compliance:
