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File #: RFD-112-17    Version: 1 Name:
Type: Request for Decision Status: Passed
File created: 4/19/2017 In control: Council
On agenda: 5/23/2017 Final action: 5/23/2017
Title: Edmonton Metropolitan Region Economic Development Entity
Sponsors: Integrated Growth
Attachments: 1. Request for Decision, 2. EMRED Response to Sturgeon County Feedback, 3. May 10 Correspondence and Draft Articles, 4. Sturgeon County Economic Development Advisory Board Recommendation

Title

Edmonton Metropolitan Region Economic Development Entity

 

Proposed Motion

1. That Council authorize the Mayor to sign the Regional Economic Development Entity Memorandum of Association, on behalf of Sturgeon County Council, to subscribe for a share in the Part 9 Company to be incorporated for regional economic development in the Edmonton Metropolitan Region.

2. That Council approve the three-year funding commitment to the Regional Economic Development Entity, to a maximum of $40,000 in 2017; a maximum of $60,000 in 2018; and $80,000 in 2019, to be funded from the Economic Development Operating Budget.

3. That Council appoint “X” to serve as the elected representative of Sturgeon County Council on the Regional Economic Development Entity and in the event that “X” is unable to attend any meeting of the shareholders, appoints “Y” to serve as the alternate elected representative, as required by the Articles of Association of the Company.

4. That Council direct Administration to release annual funding to the Regional Economic Development Entity only after an annual presentation is made by the Board Chair and CEO, on or before September 30 of each year.