SUBJECT
title
Annual update and report by the Laredo Economic Development Corporation (LEDC) and any other matters incident thereto.
body
PREVIOUS COUNCIL ACTION
The LEDC is currently under a contract with the City of Laredo in the amount of $560,000 that ends on September 30, 2024. During the August 2022 Budget Workshop, Council motioned to move from a one-year contract to a five-year contract, pending budget availability and appropriations.
BACKGROUND
The LEDC is required by contract to provide verbal updates to the City Council at the first City Council meeting of March and July of each year, plus anytime requested or determined by the City. The report shall include any accomplishments during the quarter (i.e. number of businesses contacted, number of RFI’s, number of new businesses contracted) and any other results the Organization has achieved with funding from the City of Laredo. Due to conflict of schedule, LEDC’s presentation is being recommended for the August 19, 2024 Council Agenda.
COMMITTEE RECOMMENDATION
NA
STAFF RECOMMENDATION
recommendation
Approval of the LEDC giving report to the Council.
end
Fiscal Impact
Fiscal Year: Click or tap here to enter text.
Budgeted Y/N?: Click or tap here to enter text.
Source of Funds: Click or tap here to enter text.
Account #: Click or tap here to enter text.
Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
NA