Submitted By
Brandon Crawford, Deputy Development Services Director
Reviewed By
Erin E. Baynes, Assistant to the Village Manager
Agenda Item Title
Title
A Resolution Approving a Professional Services Agreement with Camoin Associates, Inc. to Complete a Comprehensive Economic Vitality Strategic Plan in an Amount Not to Exceed $125,000.00 and Authorizing Its Execution
End
Overview
Overview
On April 12, 2024, the Village issued a Request for Proposals ("RFP") for a comprehensive Economic Vitality Strategic Plan ("Plan"). The RFP was posted for a three (3) week period with final responses due at 4 pm on May 8, 2024. The Village received three (3) responses to the RFP with Camoin Associates, Inc. submitting the lowest qualified bid at a total cost of $125,000.00.
End
Recommendation
Recommendation
Adopt the Resolution.
Background
The Plan will establish a baseline of economic metrics and indicators and provide short- and long-term economic vitality objectives intended to diversify and strengthen the Village's tax base and local economy.
The Plan will be completed over a seven-month timeline with an "organizing for success" kick-off meeting and economic vitality analysis beginning in July 2024. During this time, the consultant will conduct no fewer than three (3) site visits to host focus groups and a community open house, conduct interviews, tour village sites, and provide a final presentation of the completed Plan for adoption by the Village Board.
Key deliverables include an economic vitality conditions analysis, detailed market analysis, community survey and findings report, situational assessment presentation, draft implementation playbook and plan, and final implementation playbook and plan.
Fiscal Impact
The Fiscal Year 2024 Budget includes $100,000 for the Economic Vitality Strategic Plan within the Economic Vitality Budget under "External Support" (GL Number 1001.46262.101.530667.0000). Whereas the budget amount is $100,000 and the not-to-e...
Click here for full text