Title
Edmonton Metropolitan Region Economic Development
Proposed Motion
That Council appoint Mayor Shaigec to serve as the elected representative of Parkland County, and in the event that Mayor Shaigec is unable to attend any meeting of the shareholders, that the current Deputy Mayor be appointed to serve as the alternate elected representative.
Body
Administration Recommendation
Administration supports the proposed motion.
Purpose
The Capital Region Board is seeking both a three year membership and 2017 membership contribution for the creation of a new Edmonton Metropolitan Region Economic Development entity.
Summary
The Capital Region Board is facilitating the creation of a new regional economic entity for the Capital Region comprised of the 13 municipal members of the Capital Region Board. This new Edmonton Metropolitan Region Economic Development entity has established an interim board to oversee the process of establishing the articles of incorporation, as well as formulating a vision, mission, values, principles and outcomes for the entity. The role of the new entity would be to promote the Edmonton Region on the global stage and promote our region's competitiveness, growth and innovation. The principles of the new entity are to be inclusive, respect local autonomy, have one share and one vote on the board, and speak with one voice in promoting this region. The initial steps for this new entity are to work with the regional partners to develop regional branding, collect information for a regional database, and formulate a regional strategy for business and talent attraction.
The interim board has established a 3-year proposed budget to fund the new entity. The funding formula is based on a model using equalized assessment and population. The proposed operating budget needs for the new entity are $1 Million in the first year of which $500,000 is the membership contribution for 2017; $3 Million in the second year of which $1 Million is the membership...
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