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Home My WebLink About169-05 RESOLUTION• • RESOLUTION NO. 169-05 A RESOLUTION APPROVING A COST -SHARE AGREEMENT WITI-I THE UNIVERSITY OF ARKANSAS IN AN AMOUNT NOT TO EXCEED $40,000.00 FROM THE ECONOMIC DEVELOPMENT FUND TO OBTAIN ENGINEERING SERVICES RELATED TO THE CONTINUED DEVELOPMENT OF THE ARKANSAS RESEARCH AND TECHNOLOGY PARK (ARTP). BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVII.LE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a Cost Share Agreement with the University of Arkansas in an amount not to exceed $40,000.00 from the Economic Development Fund to obtain engineering services related to the continued development of the Arkansas Research and Technology Park (ARTP). PASSED and APPROVED this 6i h day of September 2005. ATTEST: By: o' SG' ��; 'G\SY Oc•.•P'- cr. II E ;FAYETTEVILLE: S N RA MITH, City Clerk 447A) APPROV By: DAN COODY, Mayor • • LE'T'TER OF AGREEMENT For ENGINEERING SERVICES PURSUENT TO DEVELOPMENT Of THE ARKANSAS RESEARCH AND TECHNOLOGY PARK UNIVERSITY OF ARKANSAS WHEREAS the University of Arkansas Research and Technology Park continues to support the developing Technology Industry in Fayetteville and, WHEREAS there is a need for an engineering study into the future infrastructure needs of the park as development continues and, WHEREAS a Strong Partnership with the University of Arkansas is one of the City Goals for 2008 and, WHEREAS it is essential that the engineering study be completed in order to apply for Economic Development Administration (EDA) funding to implement a long term Master Plan and, WHEREAS the University of Arkansas shall enter into a contract for the engineering study, It is hereby agreed that the parties cost share the engineering study and that the City share not exceed 50% of the project cost or $40,000.00 whichever is less. Entered into this & li day of September, 2005 For th •ity of F ttcville• For the Universi • of Arkansas: n ► . o. Dan Coody, Mayor Vice am t jr•ea. Attest d by: � Attested by: _.1,. Sondra Smith, City Clerk .SY•O 9 ' U ▪ ••• 1J ;FAYETTEVILLE• "-• 9sRkAN5P:•9%) ' ele''y�'GTON G.•``‘ kb,16i-O' • City Council Meet>liE September 6, 2005 Agenda Item Number: CITY COUNCIL AGENDA MEMO TO: Mayor and City Council THRU: Staff/Contract Review Commi tt dir I"4 FROM: Ray M. Boudreaux, Director, Aviation and o •mid Development DATE: August 9, 2005 /61 s ib 65(4 YGl 6 uArd 0.0 atrK/14 of A SUBJECT: Approve Agreement between the City of Fayetteville and the University of Arkansas for a cost share to obtain engineering services related to the continued development of the Arkansas Research and Technology Park (ARTP) located on South School Street, not to exceed $40,000.00. RECOMMENDATION: Approve a cost share agreement not to exceed 540,000.00 from the Fayetteville Economic Dcvclopment Fund to match funding from the U of A to be used for engineering work needed to develop application to the Economic Development Administration Public Works Program to fund a comprehensive Master Development Plan for the ARTP. BACKGROIJND: In 2002 the U of A developed a Strategic Plan for the development of the Arkansas Research and Technology Park located on South School Street in Fayetteville. Funding for the Plan was shared by many public bodies including the City of Fayetteville in the amount of $36,000.00. Today, the Genesis Business Incubator is home to eleven emerging companies. The Innovation Center hosts three "new technology" companies and two University Research Departments. In all, 254 jobs can be attributed to the existence of the ARTP in Fayetteville. DISCUSSION: This project will assist in the funding of engineering work needed to develop infrastructure as the ARTP continues to grow as a state of the art research and technology park. The preliminary information provided through this cost share and the contracts with McClelland Consulting Engineers and * is necessary to prepare a grant application to the EDA for funding to develop the long term development Master Plan that will guide the park over the next ten years of development. It is anticipated that more than 1,000 jobs will be created in the park over the next ten years. BUDGET IMPACT: The project cost share will be funded through the economic development fund. Attachments: Staff Review Form Budget Adjustment 4 Ws -NJ '$CaVO 45, rete Aviation and Fxonomic Development Department Fayetteville Municipal Airport, Drake Field 4500 South School Avenue, Suite F Fayetteville, Arkansas 72701 Ray M. Boudreaux, Director • • RESOLUTION NO. A RESOLUTION APPROVING A COST -SHARE AGREEMENT WITH THE UNIVERSITY OF ARKANSAS IN AN AMOUNT NOT TO EXCEED S40,000.00 FROM THE ECONOMIC DEVELOPMENT FUND TO OBTAIN ENGINEERING SERVICES RELATED TO THE CONTINUED DEVELOPMENT OF THE ARKANSAS RESEARCH AND TECHNOLOGY PARK (ARTP). BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section l: That the City Council of the City of Fayetteville. Arkans�a++"y approves a Cost Share Agreement with the University of Arkansas in a• 'ou""Ynoi to exceed $40.000.00 from the Economic Development Fund to o Jain e ja rin `ervices related to the continued development of the Arkansas Rescarc toed 4chnotp y Park (ARTP). r PASSED and APPROVED this 6'h day of September X005. Or' rte. 4PPROVED7: r Bv: dr i UAN`COODY, Mayor ST: wir B iSO NDRA SMITH. City Clerk i yr- • Ray M. Boudreaux Submitted By City of Fayetteville Staff Review Form City Council Agenda Items or Contracts 9/6/2005 City Council Meeting Date Aviation & Economic Dvelopment Division Action Required: • General Government Department Action Required: Approve a Cost Share Agreement in the amount of $40,000.00, with the University of Arkansas to be paid from the Economic Development Fund. 40,000.00 Cost of this request 4470.9470.5315.00 Account Number 02050.1 Project Number Budgeted Item X 100,000.00 Category / Project Budget Funds Used to Date Economic Development Matches Program Category / Project Name Sery / Chgs Program / Project Category Name 100,000.00 Cap Imp Remaining Balance Budget Adjustment Attached Fund Name Department Previous Ordinance or Resolution # / er Date Original Contract Date: q l-o_s City Attomey Finance and Internal Service Director Date Date Mayor Date Original Contract Number: Received in City Clerk's Office Received in Mayor's Office Comments: Clarice Pearman -Res169-05 __• ___ • Page 1 From: Clarice Pearman To: Boudreaux, Ray Subject: Res. 169-05 Ray. Attached is a copy of the resolution passed by City Council September 6, 2005 regarding the cost -share agreement with University of Arkansas. I will retum the original agreement to you for signature of the University officials. Please see that I receive a signed agreement to attach to this resolution. Thanks. Clarice CC: Deaton, Vicki • • RESOLUTION NO. 169-05 A RESOLUTION APPROVING A COST -SHARE AGREEMENT WITH THE UNIVERSITY OF ARKANSAS IN AN AMOUNT NOT TO EXCEED $40,000.00 FROM TIIE ECONOMIC DEVELOPMENT FUND TO OBTAIN ENGINEERING SERVICES RELATED TO THE CONTINUED DEVELOPMENT OF THE ARKANSAS RESEARCH AND TECHNOLOGY PARK (ARTP). BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a Cost Share Agreement with the University of Arkansas in an amount not to exceed $40,000.00 from the Economic Development Fund to obtain engineering services related to the continued development of the Arkansas Research and Technology Park (ARTP). PASSED and APPROVED this 61° day of September 2005. ATTEST: By: `,�n�"rnnr., � , �(tKlrR.'.., t‘‘a5"clY O,c •G,p• p • :FAYETTEVILLE: "9y:5//• t5,:•Nr 4O �/•G r otsl .... S N 1 RA SMITH, City Clerk APPROV By: DAN COODY, Mayor