Broken Arrow Economic Development Authority
Meeting of: 10-20-2020
Title:
title
Approval of and authorization to execute a Third Amendment to the Contract for Economic Development Services between the Broken Arrow Economic Development Authority and the Broken Arrow Economic Development Corporation and Approval of and authorization to execute Budget Amendment No. 13 for Fiscal Year 2021
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Background:
The Broken Arrow Economic Development Corporation has entered into an economic development contract with the Broken Arrow Economic Authority previously. This contract has been amended twice previously to provide additional incentives to promote economic growth within the City of Broken Arrow. The purpose of the current amendment is a request by Broken Arrow Development Corporation for the sum of $150,000 in additional funding for the purpose of establishing and staffing a Career/Workforce Center for a period of eighteen months, beginning December 31, 2020 through June 30, 2022. This program establishment is designed to combat the rising rate of unemployment within the City of Broken Arrow due to the COVID-19 Pandemic and will offer a lifeline to citizens of the City of Broken Arrow who seek gainful employment.
Cost: $150,000.00
Funding Source: Transfer from Special Cares Act Fund
Requested By: Norman Stephens, Director of Economic Development
Approved By: City Manager’s Office
Attachments: Third Amended Contract
Budget Amendment No. 13
Recommendation:
recommend
Approve and authorize execution of a third amendment to the contract for economic development services between BAEDA and BAEDC and approve and authorize execution of Budget Amendment No. 13 for fiscal year 2021.
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