Broward County Commission Regular Meeting
Director's Name: Sandy-Michael McDonald
Department: Economic and Small Business Development
Information
Requested Action
title
MOTION TO APPROVE Greater Fort Lauderdale Alliance (hereinafter referred to as “Alliance”) Fiscal Year 2020 Quarterly Performance Report for the period of July 1, 2020 through September 30, 2020, and Fiscal Year 2020 Annual Year-End Summary Reports against the Alliance business plan, pursuant to the agreement between Broward County and the Alliance.
body
Why Action is Necessary
Pursuant to the County’s agreement with the Alliance, the Alliance must submit to the Office of Economic and Small Business Development quarterly performance and annual year-end summary reports for Board acceptance.
What Action Accomplishes
The Alliance's submission and the Board of County Commissioners' acceptance of the quarterly performance and annual year-end summary reports will satisfy compliance with the terms of the agreement between the parties.
Is this Action Goal Related
Yes
Previous Action Taken
None.
Summary Explanation/Background
THE OFFICE OF ECONOMIC AND SMALL BUSINESS DEVELOPMENT RECOMMENDS APPROVAL OF THE ABOVE MOTION.
The above Motion supports the Board of County Commissioners' Vision of “A vibrant economy with a diverse, skilled workforce, in a County offering unique advantages that attract all types of businesses to create equitable, countywide prosperity.” Value A: “Ensuring economic opportunities for Broward’s diverse population and businesses.” Goal 1: “Attract and retain all types of business, especially high-wage industries that offer employee benefits, through partnerships with the Alliance, chambers of commerce, colleges and universities, CareerSource, and any other available avenues.”
OESBD reviewed the Fiscal Year 2020 Alliance Quarterly Performance Reports (Exhibit 1) and Annual Year-End Reports (Exhibit 2). The quarterly reports have been summarized to reflect the Alliance’s achievement of its overall annual goals for Fiscal Year 2020 (Exhibit 1, page 3 of 18). While many goals were impacted by the COVID-19 health emergency, the Alliance exceeded a significant goal in domestic capital investment by attracting a projected $353.1 million dollars in new domestic capital investment in Fiscal Year 2020. The OESBD has reviewed the Alliance’s Fourth Quarter and Annual Year-End Reports and has prepared a memorandum reviewing performance activity for The Alliance’s three departments: Business Development, Investor Relations, and Business Intelligence Function (Exhibit 3). The COVID-19 public health crisis has affected multiple Alliance performance measures however, they have achieved and/or exceeded several goals as well including overall capital investment, corporate visitations, dollar value of CareerSource Broward partnerships, marketing, and private sector investment goals.
The County’s agreement with the Alliance requires the Alliance to submit a separate annual year-end summary report for Board approval. This item is required for compliance with the terms of its agreement with the County.
Pursuant to Florida Statutes, Sec. 125.045 (2015), the County must file a copy of the annual activity summary report with the Office of Economic and Demographic Research and post a copy of the report on the County’s website. Upon approval of the Alliance's Annual Year-End Summary Report by the Board, OESBD will be responsible for submission of the annual report to the State’s Office of Economic and Demographic Research and posting of the report to the County’s website.
Source of Additional Information
Steven Tinsley, Economic Development Manager, OESBD, (954) 375-8075
Fiscal Impact
Fiscal Impact/Cost Summary
No fiscal impact for this item.