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Page 2 of 2 <br />POLICY OBJECTIVE 27 <br />The corridor of Rice and Larpenteur that borders southeast Roseville was originally identified in the 28 <br />City’s Policy Priority Plan in 2016 as an Economic Development Strategic Initiative. This initiative 29 <br />continues to be a focus area in the City’s current Policy Priority Plan. 30 <br />BUDGET IMPLICATIONS 31 <br />The City of Roseville’s cost for the fourth year remains at $40,000. The EDA’s 2022 approved budget 32 <br />included $40,000 for implementation efforts of the Rice and Larpenteur Alliance. The Alliance has 33 <br />approved a Strategic Fundraising Framework for years 2020-2024. That plan forecasts decreases in 34 <br />municipal funding thru 2024, with the idea that grant funding and other in-kind support will ramp-up 35 <br />in future years. These forecasted reductions equate to the following future year budget implications 36 <br />(approximations): 37 <br /> 38 <br />Funder* 2022 2023 2024 <br />Roseville $30,000 $20,000 $11,000 <br />St. Paul $45,000 $30,000 $17,000 <br />Maplewood $6,000 $4,000 $2,000 <br />*Ramsey County is providing funding through various grants 39 <br />Because of the uncertain economic climate, caused by the pandemic, there continues to be concern 40 <br />fundraising efforts won’t produce enough funds to make-up for the forecasted municipal funding 41 <br />reductions. As such, funding for 2022 remains at the 2021 funding level of $40,000. As 2022 unfolds, 42 <br />staff will work the Alliance’s Executive Director to determine if the scheduled reductions in municipal 43 <br />funding can be resumed. 44 <br />STAFF RECOMMENDATION 45 <br />Authorize the Mayor and City Manager to execute a Professional Services Agreement with SPACC 46 <br />and a Cooperative Funding Agreement with the cities of Maplewood and St. Paul. 47 <br />REQUESTED COUNCIL ACTION 48 <br />Authorize the Mayor and City Manager the execute a Professional Services Agreement with SPACC 49 <br />and a Cooperative Funding Agreement with the cities of Maplewood and St. Paul. 50 <br />Prepared by: Janice Gundlach, Community Development Director, 651-792-7071 <br />Attachments: A: Professional Services Agreement <br />B: Cooperative Funding Agreement