To: Board of Supervisors
From: Supervisor Williams
Meeting Date: January 7, 2020
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Department Contact: |
Supervisor Williams |
Phone: |
463-4221 |
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Item Type: Regular Agenda |
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Time Allocated for Item: 15 Minutes |
Agenda Title:
title
Discussion and Possible Action Including Possible Direction to Executive Office to Perform Assessment of Economic Development and Financing Corporation (EDFC), Documenting Total County Contributions and Return on Investment
(Sponsor: Supervisor Williams)
End
Recommended Action/Motion:
recommendation
Direct the Executive Office to perform assessment of EDFC, documenting total County contributions and return on investment.
End
Previous Board/Board Committee Actions:
None
Summary of Request:
EDFC was founded in 1995 through the efforts of the County of Mendocino and the four incorporated jurisdictions: Willits, Ukiah, Point Arena, and Fort Bragg. Mendocino County has maintained significant monetary contributions. $883k from the County combined with sizable contributions from the cities justify an analysis of return on investment. For the greater than $1M of local public funds utilized since EDFC inception, what have we accomplished? Has EDFC met our condition of satisfaction? If not, what needs to change in the partnership and charter? Is EDFC mature enough to stand on its own and if not, what’s the roadmap for reaching this critical milestone?
Alternative Action/Motion:
Do not direct staff to perform Assessment.
Supervisorial District: All
vote requirement: Majority
Supplemental Information Available Online At: N/A
Fiscal Details:
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source of funding: General Fund |
budgeted in current f/y: No |
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current f/y cost: To be determined |
if no, please describe: this request would be at the direction of the Board |
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annual recurring cost: To be determined |
revenue agreement: No |
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budget clarification: The Board of Supervisors has chosen to fund EDFC every year since the inception. At fiscal year 19-20 budget adoption, $32,000 of general fund was approved to fund EDFC. At this time no funding has been identified for the executive office to perform the assessment for return on investment
Agreement/Resolution/Ordinance Approved by County Counsel: N/A
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CEO Liaison: Executive Office |
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CEO Review: Yes |
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CEO Comments:
FOR COB USE ONLY
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Executed By: Lindsey Dunham, Deputy Clerk I |
Final Status:Direction Given to Staff |
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Date: January 8, 2020 |
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