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37 Aspirations. Additionally, the corridor of Rice and Larpenteur that borders southeast Roseville was <br />38 originally identified in the City's Policy Priority Plan in 2016 as an Economic Development Strategic <br />39 Initiative. These policy objectives informed the city's initial involvement and continued participation and <br />40 funding of the Rice and Larpenteur Alliance. <br />41 <br />42 Racial Equity Impact Summary <br />43 The Rice and Larpenteur Alliance serves southeast Roseville. BIPOC representation in the census track <br />44 serving southeast Roseville is 41.5%, compared to the overall City BIPOC representation of 26.6% <br />45(source: MySidewalk). Southeast Roseville also serves many BIPOC businesses. <br />46 <br />47 Budget Implications <br />48 The City of Roseville's cost for the sixth year remains at $40,000. The EDA's 2024 approved budget <br />49 included $40,000 for implementation efforts of the Rice and Larpenteur Alliance. The Alliance has <br />50 approved a Strategic Fundraising Framework for years 2020-2024. That plan forecasted decreases in <br />51 municipal funding thru 2024, with the idea that grant funding and other in-kind support would ramp up in <br />52 future years. However, the economic climate, post-pandemic, has resulted in an uncertain fundraising <br />53 climate. As such, funding for 2024 remains at the 2021-2023 funding level of $40,000. As 2024 unfolds, <br />54 the Alliance's Executive Director will need to revisit the Strategic Fundraising Framework to plan for <br />55 municipal funding levels for future fiscal years. <br />56 <br />57 Staff Recommendations <br />58 Authorize Mayor and City Manager to execute a Professional Services Agreement with SPACC and a <br />59 Cooperative Funding Agreement with the cities of Maplewood and St. Paul. <br />60 <br />61 Requested Council Action <br />62 By motion, Authorize the Mayor and City Manager to execute a Professional Services Agreement with <br />63 SPACC and a Cooperative Funding Agreement with the cities of Maplewood and St. Paul. <br />64 <br />65 <br />Janice Gundlach, Community Development Director <br />Prepared by: <br />1. Professional Services Agreement with SPACC <br />Attachments: <br />2. Cooperative Funding Agreement with Maplewood and St. Paul <br />3. 2024 Work Plan <br />66 <br />Page 2 of 2 <br />Qbhf!317!pg!335 <br /> <br />