01-0872R

RESOLUTION AUTHORIZING AN AGREEMENT WITH CONNECTING POINT IN AN AMOUNT NOT TO EXCEED $48,306 AND AUTHORIZING ACCEPTANCE OF REIMBURSEMENT FROM THE DULUTH ECONOMIC DEVELOPMENT AUTHORITY IN THE AMOUNT OF $24,000.

BY COUNCILOR STENBERG:

        RESOLVED, that the proper city officials are hereby authorized to enter into an agreement, substantially in the form of that on file in the office of the city clerk as Public Document No. ____, with Connecting Point in a total amount not to exceed $48,306, payable from Fund 0255, contingent upon receipt by the city of a Soft Center workforce development fund grant from the Minnesota Legislature.

        FURTHER RESOLVED, that the Duluth City Council hereby accepts reimbursement from the Duluth economic development authority (DEDA) relating to the Connecting Point project in the amount of $24,000, said amount to be deposited into Fund 0255.



STATEMENT OF PURPOSE:  Connecting Point is a Duluth-based technology firm specializing in the field of IT training. The purpose of this resolution is to authorize an agreement with Connecting Point in the amount of $48,306 to assist Connecting Point in expanding and relocating its operations into the Duluth Technology Village. The money will assist in non-recurring build-out expenses related to Connecting Point's move. The resolution also authorizes acceptance of reimbursement from DEDA for the project in the amount of $24,000.

In exchange, Connecting Point, which currently employs 22 people, is agreeing to lease not less than 10,000 square feet in the Technology Village and to create at least ten new jobs within two years of occupancy in the Technology Village. The city's funding will be provided through a Soft Center workforce development fund grant from the Minnesota Legislature.