Subject
title
Joint Meeting of the Mayor and Council and Rockville Economic Development, Inc. (REDI) Board of Directors
end
Department
City Manager's Office (CMO)
Discussion
REDI was established in 1997 as a 501 (c) (3) by the Mayor and Council to proactively support existing businesses and attract new businesses to the city among other purposes. REDI receives funding from the city pursuant to a Funding Agreement dated July 1, 2024.
The Agreement requires both parties to fulfill certain obligations. One of those requirements is that the Mayor and Council and the REDI Board of Directors hold an annual joint meeting. It is anticipated at the meeting that the Mayor and Council and the REDI Board will discuss and share their respective strategic goals regarding economic development.
REDI staff transmitted the attached PowerPoint presentation.
Mayor and Council History
The current agreement between REDI and the Mayor and Council was effective July 1, 2024, with a termination date of June 30, 2027. The Mayor and Council have received reports and updates from REDI for many years. This will be the first time the Mayor and Council have held a joint meeting with the REDI Board.