SUBJECT
Resolution authorizing the Mayor to execute a Contract for Services with the Southeast Missouri Regional Economic Development Inc., a/k/a Semo REDI.
EXECUTIVE SUMMARY
In December 2019, the City Council approved a contract with Cape Girardeau Area Industrial Recruitment Association, a/k/a MAGNET. This contract expired December 31, 2024.
BACKGROUND/DISCUSSION
A new Contract for Services has been prepared to run from May 8, 2025, through December 31, 2025. This agreement was reached following a meeting between the Council Subcommittee, Mayor Kinder, Nate Thomas, Dan Presson, and representatives from SEMO Redi.
FINANCIAL IMPACT
The City shall pay to Semo REDI the sum of Sixty-Eight Thousand Dollars ($68,000) per
year. This Agreement shall commence on May 8, 2025, and shall expire December 31, 2025.
SUSTAINABILITY: ECONOMIC, ENVIRONMENTAL AND SOCIAL IMPACTS
Semo REDI sustains itself through the member cities, county, and private investors, and has a significant economic impact for this area. A continued monitoring of the organization, budget and impact is the responsibility of the Semo REDI Board.
STAFF RECOMMENDATION
BOARD OR COMMISSION RECOMMENDATION
PUBLIC OUTREACH
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