ORGANIZATION: Westside Development Corporation (WDC) - Executive Committee
POSTING LANGUAGE:
Discussion and possible action regarding a recommendation to the Board of Directors regarding ratification of the Delegate Agency Funding Agreement between the City of San Antonio and the Westside Development Corporation for the fiscal period ending September 30, 2016.
SUMMARY:
On September 10, 2015, the City Council adopted its annual budget for the 2016 fiscal year, allocating funds for a Delegate Agency Funding Agreement with the WDC. The President has executed the agreement with the City and now presents it to the Board for ratification.
BACKGROUND INFORMATION:
General
On August 26, 2015, the Board authorized the Project Committee to approve a final draft of the Scope of Work attachment to the Delegate Agency Funding Agreement and for the President to execute the final agreement once it was approved by the City Council. It also asked for the agreement to be brought back to the Board for ratification.
On September 10, 2015, the Project Committee met to discuss and approve the Scope of Work attachment for the agreement. The City Council met later that same day to adopt the annual budget that allocated $258,000 from the City's General Fund and $100,000 from the Inner City Incentive Fund for the agreement.
Once final documents were prepared, the President executed the agreement, as authorized by the Board previously.
The Delegate Agency Funding Agreement is the mechanism by which the City of San Antonio provides funds to the WDC for its operations and projects. Within the agreement, terms and conditions regarding the use of funds, including a list of activities or "Scope of Work," is spelled out.
FISCAL IMPACT:
The agreement with the City of San Antonio provides $258,668 from the City's General Fund for operations and $100,000 from the City's Inner City Incentive Fund for projects in the WDC target area.
RECOMMENDATION:
Staff recommends the Board ratify the De...
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