O-89-2420 - 7/27/1989ORDINANCE NO. 672--/A0
0
AN ORDINANCE ALLOCATING A PORTION OF GENERAL REVENUE
SHARING FUNDS.
WHEREAS, the City has $84,000.00 of unallocated general revenue
sharing funds, and
WHEREAS, the City Council wishes to pursue the establishment of
a comprehensive economic development program for the City, and
WHEREAS, the Council wishes to allocate $32,000.00 of the
general revenue sharing funds for that purpose, Now Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF ROUND ROCK, TEXAS:
I.
That $32,000.00 from the general revenue sharing fund shall be
allocated to the establishment of a comprehensive economic
development program for the City of Round Rock, Texas.
II.
A. All ordinances, parts of ordinances, or resolutions in
conflict herewith are expressly repealed.
B. The invalidity of any section or provision of this
ordinance shall not invalidate other section or provisions thereof.
READ and APPROVED on first reading this the /3.Ck V day
1989.
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READ, APPROVED, and ADOPTED on second reading this the d 1 day
1989.
MIKE ROBINSON, Mayor
City of Round Rock, Texas
ATTEST:
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JOE LAND, City Secretary
C45ORDREVENUE
DATE: July 24, 1989
SUBJECT: Council Agenda, July 27, 1989
ITEM: 9B. Consider an ordinance concerning allocation of
general revenue sharing funds. (Second Reading)
STAFF RESOURCE PERSON: Kathy Mayfield
NARRATIVE:
There has been much discussion among the City, Chamber and
business community concerning the future of Round Rock in the area
of economic development. From these discussions the decision, was
made to employ an experienced consultant to develop an overall
economical development program. PHH Fantus has submitted a proposal
to the City of Round Rock to do just that. Fantus is the leading
national firm for economic development and real estate market
analysis.
There proposal consists of five program phases described as
follows:
Core Program ($27,000 plus expenses)
Phase One: Strengths and Weaknessess
Phase Three: Development and Remedial Strategies
Any or all of the following elements could then be added to the Core
Program, in whatever timing or phasing you choose.
Optional Elements (All prices are plus expenses)
Phase Two: Target Industry Identification ($9,000)
Phase Four: Three -Year Marketing Plan ( 3,000)
Phase Five: Implementation Assistance ( 6,000)
This allocation would allow us to complete the Core Program.
STAFF RECOMMENDATION:
Allocate funds from the discontinued General Revenue Sharing Program
for the above.
FUNDS AVAILABLE $84,000
THIS ALLOCATION (32,000)
FUNDS REMAINING
ALLOCATED $52,000
ECONOMIC IMPACT:
$32,000 expenditure Fiscal Year 1988-89