Economic Development Department
Reference: Economic Development Corporation Memorandum of Understanding
To: Mayor Gregory Mills and Members of City Council
Through: Michael P. Martinez, City Manager
Prepared By: Robin Martinez, Director Brighton EDC
Date Prepared: 4/26/24
PURPOSE
To approve a resolution adopting an updated Memorandum Of Understanding (“MOU”) between the City of Brighton (“City”) and the Brighton Economic Development Corporation (“EDC”).
BACKGROUND
EDC is a private/public partnership where the non-profit side of the operation is a 501(c)(6) run by a private board of investors. The investors contribute monetarily as well as through time and expertise as an Advisory Board to the activities and programs implemented by the Brighton EDC. The public side of the operation is a department of the City where all employees are paid and managed by the City. The two entities operate under a Memorandum of Understanding (MOU) and the last revision of this MOU was updated in 2007. Both parties agreed it is time to update the agreement to reflect the current partnership and operation of the Brighton EDC.
CRITERIA BY WHICH COUNCIL MUST CONSIDER THE ITEM
N/A
FINANCIAL IMPACT
N/A
STAFF RECOMMENDATION
Approve the resolution adopting the updated MOU between the City and Brighton EDC
OPTIONS FOR COUNCIL CONSIDERATION
Adopt the Resolution.
Deny adoption of the Resolution.
Modify the Resolution or MOU.
ATTACHMENTS
Resolution
Memorandum of Understanding