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HomeMy WebLinkAbout10-68 st Resolution No. 10-68 RESOLUTION AUTHORIZING EXECUTION OF AN ECONOMIC DEVELOPMENT SERVICES AGREEMENT WITH THE ELGIN AREA CHAMBER OF COMMERCE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ELGIN,ILLINOIS,that Sean R. Stegall, City Manager,and Diane Robertson,City Clerk,be and are hereby authorized and directed to execute an Economic Development Services Agreement on behalf of the City of Elgin with the Elgin Area Chamber of Commerce for economic development services,a copy of which is attached hereto and made a part hereof by reference. s/Ed Schock Ed Schock, Mayor Presented: March 31, 2010 Adopted: March 31, 2010 Vote: Yeas: 5 Nays: 1 Attest: s/Diane Robertson Diane Robertson, City Clerk ECONOMIC DEVELOPMENT SERVICES AGREEMENT This Service Agreement (Agreement) it made and entered into this 31 St day of March, 2010, by and between the City of Elgin, an Illinois municipal corporation (City), and the Elgin Area Chamber of Commerce, an Illinois not-for-profit corporation (EAC), estab- lishes the terms and conditions under which EAC agrees to perform the economic devel- opment services for the City. Whereas, the City wishes to enhance the economic development of the City of El- gin and its individual residents and businesses; and Whereas, EAC is capable of providing expertise in the matter of economic devel- opment; and Whereas, EAC is ready, willing and able to provide particular attention and activities for the economic development of the City of Elgin; Now, therefore, in consideration of the mutual promises by EAC and the City to each other, the parties agree as follows: SECTION Terms and Conditions 1 . Services: EAC will perform the services specified in Section II and provide the equip- ment, staff and materials to achieve them. In performing the Services under this Agreement, EAC is an independent contractor and not an employee of the City, and EAC will not hold itself out as any such employee. EAC has no authority to make any agreement or commitment on behalf of the City. 2. Term: The term of this Agreement shall commence on April 1, 2010 and end on De- cember 31 , 2011. 3. Compensation: In consideration of the rendering of services by EAC under this Agreement, the City agrees to pay EAC $100,000 for each quarter year of service, payable quarterly as billed $100,000 on April 30, July 30 and October 30 and Janu- ary 30 for services provided by EAC for the term this Agreement remains in effect. The City, however, shall pay EAC the sum of $160,000 upon the execution of this Agree- ment for economic development services provided to the City during first quarter of 2010 and for the purpose of redesigning the economic development components of the EAC website, as more fully described in this Agreement below. In no event shall the City's payment to EAC exceed the amount of $860,000 during the term of this Agreement regardless of the actual costs incurred by EAC unless substantial modifi- cations to the EAC Duties and Services identified in Section II of this Agreement are authorized in writing and approved by way of written amendment to this Agreement. 4. Reporting: EAC will provide the City with the following reports on a periodic basis, in addition to such other reports as may be requested by the City: a. Monthly Report: A written monthly report, including general financial information for the prior month (income statement and balance sheet), shall be forwarded to the city manager each month for inclusion in the city manager's report to the city council. The EAC's president and the city manager may amend the format of this report from time to time as may be mutually agreed by the parties. b. Quarterly Report: EAC shall, on a quarterly basis, provide an oral report to the city council, to include but not be limited to prospect activity, challenges to economic development, local employment trends, coordinated efforts with other agencies and recommendations to improve the economic development climate. c. Audit: EAC shall provide a copy to the City of the auditor's opinion from its annual audit. 5. Notice of Claim: If EAC wishes to make a claim for additional compensation as a result of action taken by the City, EAC shall give written notice of its claim within 15 days af- ter occurrence of such action. No claim for additional compensation shall be valid un- less so made. Any changes in EAC's fee shall be valid only to the extent that such changes are included in writing signed by the City and EAC and approved by way of written amendment to this Agreement. 6. Indemnification: To the fullest extent permitted by law, EAC agrees to and shall in- demnify, defend and hold harmless the City, its officers, employees, agents, boards and commissions from and against any and all claims, suits, judgments, costs, attor- neys fees, damages or other relief, including but not limited to workers compensation claims, in any way resulting from or arising out of negligent actions or omissions of the EAC in connection herewith, including negligence or omissions of employees or agents of EAC arising out of the performance of this Agreement. In the event of any action against the City, its officers, employees, agents, boards or commissions, cov- ered by the foregoing duty to indemnify, defend and hold harmless such action shall be defended by legal counsel of the City's choosing. The provisions of this paragraph shall survive any expiration, completion and/or termination of this Agreement. 7. No Personal Liability: No official, director, officer, agent or employee of the City shall be charged personally or held contractually liable under any term or provision of this 2 • Agreement or because of their execution, approval or attempted execution of this Agreement. 8. Insurance: a. Comprehensive Liability: EAC shall provide, pay for and maintain in effect, during the term of this Agreement, a policy of comprehensive general liability insurance with limits of at least $1,000,000 aggregate for bodily injury and $1 ,000,000 ag- gregate for property damage. EAC shall deliver to the City a certificate of insur- ance naming the City as additional insured. The policy shall not be modified or terminated without thirty (30) days prior written notice to the City. The certificate of insurance that shall include the obligation assumed by the EAC under paragraph 6 of Section I of this Agreement entitled "Indemnification" shall be provided. This insurance shall apply as primary insurance with respect to any other insurance or self-insurance programs afforded to the City. There shall be no endorsement or modification of this insurance to make it excess over other available insurance, al- ternatively, if the insurance states that it is excess or prorated, it shall be endorsed to be primary with respect to the City. b. Comprehensive Automobile Liability: Comprehensive Automobile Liability Insur- ance covering all owned, non-owned and hired motor vehicles with limits of not less than $500,000 per occurrence for damage to property. c. Combined Single Limit Policy: The requirements for insurance coverage for the general liability and auto exposures may be met with a combined single limit of $1,000,000 per occurrence subject to a$1,000,000 aggregate. d. Professional Liability: EAC shall carry, when applicable, professional Liability Insur- ance covering claims resulting from error, omissions or negligent acts with a combined single limit of not less than $1,000,000 per occurrence. A certificate of insurance shall be submitted to the City as evidence of insurance protection. The policy shall not be modified or terminated without thirty (30) days prior written no- tice to the City. 9. Nondiscrimination: In all hiring or employment made possible or resulting from this Agreement, there shall be no discrimination against any employee or applicant for employment because of sex, age, race, color, creed, national origin, marital status, of the presence of any sensory, mental or physical handicap, unless based upon a bona fide occupational qualification, and this requirement shall apply to, but not be limited to, the following: employment advertising, layoff or termination, rates of pay or other forms of compensation and selection for training, including apprenticeship. No person shall be denied or subjected to discrimination in receipt of the benefit of any services or activities made possible by or resulting from this Agreement on the 3 grounds of sex, race, color, creed, national origin, age except minimum age and re- tirement provisions, marital status or the presence of any sensory, mental or physical handicap. Any violation of this provision shall be considered a violation of a material provision of this Agreement and shall be grounds for cancellation, termination or sus- pension, in whole or in part, of the Agreement by the City. 10. Assignment and Successors: This Agreement and each and every portion thereof shall be binding upon the successors and the assigns of the parties hereto; provided, how- ever, that no assignment shall be made without the prior written consent of the City which consent may be withheld at the sole discretion of the City. 11. Delegations and Subcontractors: Any assignment, delegation or subcontracting shall be subject to all the terms, conditions and other provisions of this Agreement and EAC shall remain liable to the City with respect to each and every item, condition and other provision hereof to the same extent that the EAC would have been obligated if it had done the work itself and no assignment, delegation or subcontract had been made. Any proposed subcontractor shall require the City's advanced written approval. 12. Cooperation with Other Economic Development-Related Boards and Agencies: EAC shall cooperate with any other economic development-related boards and agencies under the City's employ, including but not limited to the Downtown Neighborhood As- sociation and Elgin Area Convention and Visitor's Bureau, or with any economic de- velopment-related board, agency or professional performing work associated with this Agreement. 13. No Co-Partnership or Agency: This Agreement shall not be construed so as to create a partnership, joint venture, employment or other agency relationship between the parties hereto. 14. Severability: The parties intend and agreed that, if any paragraph, sub-paragraph, phrase, clause or other provision of this Agreement, or any portion thereof, shall be held to be void or otherwise unenforceable, all other portions of this Agreement shall remain in full force and effect. 15. Headings: The headings of the several paragraphs of this Agreement are inserted only as a matter of convenience and for reference and in no way are they intended to de- fine, limit or describe the scope of intent of any provision of this Agreement, nor shall they be construed to affect in any manner the terms and provisions hereof or the in- terpretation or construction thereof. 16. Modification or Amendment: This Agreement and its attachments constitutes the en- tire Agreement of the parties on the subject matter hereof and may not be changed, modified, discharged or extended except by written amendment duly executed by the parties. Each party agrees that no representations or warranties shall be binding upon 4 the other party unless expressed in writing herein or in a duly executed amendment hereof, or change order as herein provided. 17. Notices: The City and EAC shall each appoint a contact for all written communications between the parties. For the City, all notices shall be sent to: City Manager, City of El- gin, 150 Dexter Court, Elgin, Illinois, 60120. For EAC, all notices shall be sent to: President, Elgin Area Chamber of Commerce, 31 South Grove Avenue, Elgin, IL, 60120. The parties shall apprise each other of changes in contact information as may occur from time to time. All notices, reports and documents sent pursuant to this Agreement shall be mailed to the above addresses by First Class Mail, postage pre- paid. 18. Confidentiality: It is recognized that the handling of prospect information requires ac- cess to confidential information. As such, EAC shall maintain all prospect information in confidence. EAC shall provide confidential prospect information solely to the mayor and city manager as representatives of the City, who to the extent permitted by law shall attempt to maintain such information in strict confidence. All other prospect in- formation shall be so coded, organized or structured to prevent the identity of the prospect from being publicly known until such time that the prospect may deem it ap- propriate. 19. Funding Opportunities: It is recognized that EAC may wish to access certain grant funding pools whereby the City must act as a "pass through" or coordinating agency. In such cases, the city manager shall be authorized by the city council to execute, administer and manage such grants on behalf of the City and EAC, provided that such grant does not necessitate an appropriation of funds by the municipality. 20. Applicable Law: This Agreement shall be deemed to have been made in, and shall be construed in accordance with the laws of the State of Illinois. Venue for the resolution of any disputes or the enforcement of any rights pursuant to this Agreement shall be in the Circuit Court of Kane County, Illinois. 21. Cooperation With Other Consultants: EAC shall cooperate with any other consultants in the City's employ or any work associated with this Agreement. 22. Sexual Harassment Policies: As a condition of this Agreement, EAC shall have written sexual harassment policies that include, at a minimum, the following information: a. The illegality of sexual harassment; b. The definition of sexual harassment under state law; c. A description of sexual harassment, utilizing examples; 5 d. The vendor's internal complaint process including penalties; e. The legal recourse, investigative and complaint process available through the Illi- nois Department of Human Rights, and the Illinois Human Rights Commission; f. Directions on how to contact the department and commission; g. Protection against retaliation as provided by Section 6-101 of the Human Rights Act. A copy of the policies shall be provided by EAC to the Department of Human Rights upon request 775 ILCS 5/2-105. 23. Compliance with Laws: Notwithstanding any other provision of this Agreement it is expressly agreed and understood that in connection with the performance of this Agreement that EAC shall comply with all applicable federal, state, City and other re- quirements of law, including, but not limited to, any applicable requirements regarding prevailing wages, minimum wage, workplace safety and legal status of employees. Without limiting the foregoing, EAC hereby certifies, represents and warrants to the City that all EAC's employees and/or agents who will be providing products and/or services with respect to this Agreement shall be legal residents of the United States. EAC shall also at its expense secure all permits and licenses, pay all charges and fees and give all notices necessary and incident to the due and lawful prosecution of the work, and/or the products and/or services to be provided for in this Agreement. The City shall have the right to audit any records in the possession or control of the EAC to determine EAC's compliance with the provisions of this section. In the event the City proceeds with such an audit the EAC shall make available to the City the EAC'S rele- vant records at no cost to the City. EAC shall pay any and all costs associated with any such audit. 24. Work Products. All Work Products prepared by EAC pursuant hereto, including, but not limited to, reports, studies, plans and recommendations shall be delivered to the City upon request of the City provided, however, that EAC may retain copies of such Work Products for its records. 25. Breach of Agreement: If either partyviolates or breaches any term of this Agreement, 9 such violation or breach shall be deemed to constitute a default, and the other party has the right to seek administrative, contractual or legal remedies as may be available to the violation or breach; and in addition, if either party by reason of any default fails to within fifteen (15) days after notice thereof by the other party to comply with the conditions of this Agreement, the other party may terminate this Agreement. Notwith- standing the foregoing, or anything else to the contrary in this Agreement, with the sole exception of an action to recover the monies the City has agreed to pay to EAC 6 pursuant to Section 3 hereof, no action shall be commenced by EAC against the City for monetary damages. 26. Termination: Notwithstanding any other provision hereof, the City may terminate this Agreement at any time upon thirty (30) prior written notice to EAC. In the event this Agreement is so terminated, EAC shall be paid for services actually performed, and re- imburseable expenses actually incurred prior to termination, except that reimburse- ment shall not exceed the quarterly amount set forth under Section 3 above. Addi- tionally, in the event this Agreement is so terminated, EAC shall immediately cease the expenditure of any funds paid to EAC by the City and shall refund to the City any un- earned or unexpended funds. 27. Interference with Public Contracting: EAC certifies hereby that it is not barred from bidding or submitting a proposal for this Agreement as a result of violation of 725 ILLS 5/33E et seq. or any similar state or federal statute regarding bid rigging. 28. Substance Abuse Program: As a condition of this Agreement, EAC shall have in place a written substance abuse prevention program which meets or exceeds the program requirements in the Substance Abuse Prevention Public Works Project Act at 820 ILCS 265/1 et seq. A copy of such policy shall be provided to the City's City Manager prior to the entry into and execution of this Agreement. 29. Invoices: EAC shall submit invoices to the City for the payments to be made by the City to EAC pursuant to paragraph 3 of this Agreement. Such invoices shall be in a format approved by the City. EAC shall maintain records showing actual time devoted and costs incurred pursuant to this Agreement. EAC shall permit an authorized repre- sentative of the City to inspect and audit all data and records of EAC for work done under this Agreement. EAC shall make these records available at reasonable times during the Agreement term and for one (1) year after termination of this Agreement. 30. Budget Appropriation: Notwithstanding anything else to the contrary in this Agree- ment, the parties understand and agree that the fiscal year of the City is the twelve month period ending December 31 of each year. The obligations of the City under any contract for any fiscal year are subject to and contingent upon the appropriation of funds sufficient to discharge the obligations which accrue in that fiscal year and authorization to spend such funds for the purposes of the contract. If, for any fiscal year during the term of this Agreement, sufficient funds for the discharge of the City's obligations under the Agreement are not appropriated and authorized, then this Agreement shall terminate as of the last day of the preceding year, or when such ap- propriated and authorized funds are exhausted, whichever is later, without liability to the City for damages, penalties or other charges or any other relief whatsoever on ac- count of such termination. 7 SECTION II EAC Duties and Services Duties: 1. EAC shall provide qualified and competent staff for the recruitment of and assistance to new business and industry, as well as for the expansion of existing business, pro- viding management ement and administrative services necessary to present a viable pro- gram. This includes but is not limited to the gathering and dissemination of informa- tion, research, promotional programs, publications and services and to representing the City's interests in negotiating with industrial and business prospects wishing to lo- cate in Elgin. 2. EAC shall be responsible for the operation of the programs carried out under the terms of this Agreement. The EAC's president or the president's designate shall be responsible for the day-to-day operations of economic development activities and the general supervision and management of the business affairs under this Agreement. 3. EAC shall provide office space, general office supplies, office equipment, auto, rent, accounting and legal services, insurance, payroll taxes, general postage, and tele- phone necessary for carrying out the terms of this Agreement. EAC shall enter into a lease agreement with the City for the City-owned premises EAC is currently occupying at the property commonly known as 31 S. Grove Avenue, Elgin, Illinois (City Premises). The term of EAC's lease for the City Premises shall be contemporaneous with that of this Agreement and EAC shall not be required to compensate the City for occupying the City Premises during the term of said lease agreement. 4. EAC shall develop and implement an economic development program strategy as out- lined in this Agreement with the funds provided to EAC by the City. The economic de- velopment program strategy shall include a programmatic budget, the activities to achieve the goals, the budget for each activity and a standard for evaluation of the ef- fectiveness of each program and shall be submitted to the City for consultation and concurrence. 5. EAC shall ensure that no funds provided by the City under this Agreement will be used to support traditional chamber of commerce activities that generally serve and benefit only the chamber membership or programs not directly related to economic develop- ment. Nothing in this contract, however, shall prevent the City from specifically funding new projects as proposed by EAC. 6. EAC shall operate the programs contemplated in this Agreement for the general public good for the promotion of business, industry and trade within Elgin. 8 7. EAC shall conduct telephonic or personal meeting with all economic development re- lated referred to EAC by the City and shall regularly provide the City with progress re- ports on each economic development prospect referred to EAC by the City. The City may require EAC to provide an economic development professional from its staff to be present at the City's place of business from time to time to respond to economic de- velopment inquiries. 8. EAC shall provide in collaboration with the City an on-going plan for the economic de- velopment of Elgin. This plan shall be incorporated into EAC's program of action in succeeding future years and monitored and updated annually throughout the life of this Agreement. 9. EAC shall coordinate the recruitment of industries with the City's city manager to en- sure that there will be no adverse impact to the environment of Elgin or the City's costs of operation. 10. EAC shall make its books and financial records concerning the funds expended under this Agreement available to the City for inspections and review and audit. EAC will, at no expense to the City, provide an annual report and accounting of expenditures of the funds covered by this Agreement. Core Services: 1. Business Retention: EAC shall conduct an annual business retention program in which existing businesses and employers are identified and personal contact is made with City businesses by EAC through on-site visits, mail surveys or both. A survey sent via mail or email at EAC's discretion shall be sent to City businesses representing a vari- etyit will of business sectors in such a manner that everybusiness licensed bythe C Y be contacted by EAC either by mail survey or a personal site visit not less than once every three years. EAC shall annually conduct not less than 30 on-site business reten- tion calls per year and mail not less 300 surveys annually to City businesses. EAC's president and the City's city manager shall also conduct ten business retention calls with the chief executive officers of the ten largest employers in Elgin. EAC's business retention program shall be designed to identify and address the needs of existing businesses and the manner in which EAC and the City can better assist those busi- nesses, including, but not limited to, the following components: a. Conducting a cluster and target industry analysis indentifying concentrations of existing City businesses and determining which concentrations are most likely to provide future growth and employment. 9 b. Developing a broadband strategy for delivering high-speed Internet service to City businesses with local broadband providers and in conjunction with the Federal Communications Commission's "100 Squared Initiative." c. Recommending an incentive program for existing businesses that creates job growth and provides additional incentives for hiring City residents. d. Serving as a resource for City businesses seeking economic, demographic, commercial real estate and related data for economic development by providing such data to Elgin businesses from EAC's subscribed or maintained databases. e. Updating and maintaining information on Elgin's community profile in the data- base maintained by the Illinois Department of Commerce and Economic Oppor- tunity (DCEO). The City shall assist EAC in updating and maintaining such infor- mation. f. Conducting not less than four roundtables annually on economic development is- sues of importance identified by City businesses during on-site visits, retention survey responses or other means. g. Analyzing data and information received form retention surveys and on-site visits and developing an action plan for further action based on those results and infor- mation. 2. Business Attraction: EAC shall provide assistance to new business prospects seeking p p to locate in Elgin by providing information on available sites and buildings, demograph- ics, labor force, housing, education and infrastructure. EAC shall provide infrastructure information to business prospects when requested by working with utility companies, local governmental units and the City to facilitate the decision-making process for pro- spective businesses considering locating in Elgin. EAC shall also work with state and federal organizations to immediately respond to business and developer requests for information. EAC shall also perform the following business attraction services to aid prospective businesses and developers: a. Responding to DCEO's statewide inquiries seeking information for significant de- velopment projects. b. Providing information from EAC's subscribed or maintained databases of eco- nomic, demographic, commercial real estate and related data for economic de- velopment by providing such data to prospective businesses or developers con- sidering to locate in Elgin. 10 c. Updating the existing market absorption analysis for Northern Kane County's in- dustrial submarket (including Elgin) and utilizing the absorption analysis to identify the location, size and timing of future business and industrial parks within Elgin. d. Reviewing the City's existing economic development incentive programs to en- sure City's programs remain advantageous and competitive. e. Establish relationships with real estate professionals through individual meetings and by participating in events sponsored by CoreNet Global, the Illinois Develop- ment Council and other industry associations. f. Conduct an annual event for site selectors, developers, brokers and real estate professionals that promotes the advantages of locating in Elgin. g. Market Elgin at International Council of Shopping Center trade shows. h. Implement and a project tracking system for use by EAC and the City for record- ing and reporting on the status of business leads and inquiries. 3. Domestic and Global Economic Initiatives: EAC shall continue its efforts to attract businesses and quality jobs. Marketing efforts in domestic, Canadian, China, Pacific Rim, Mexico, Central and South American and European regions shall be developed to represent and sell the many advantages of locating and doing business in Elgin. Such marketing activities shall be made in conjunction with existing federal and state assistance programs whenever possible. 4. EAC Website: EAC will maintain a web site providing localized information on Elgin. EAC and the City recognize this technology resource is the first point of contact with site developers and business contacts and is a valuable marketing asset for Elgin business attraction, retention, and community development efforts. The EAC website shall be capable of featuring video streaming; provide cost of living data; contain downloadable community profile information. The EAC web site shall also provide in- formation regarding site and building forms and data, aerial, flood plain, topographical, and street maps, zoning maps and zoning districts and enterprise zone maps as pro- vided to EAC by the City through its GeoBlade software or other means; workforce in- formation; demographic and labor force information; quality of life video; county and city information; and links to City, state and partner agencies. The EAC web site shall also license an ACCRA (American Chamber of Commerce Research Association) Cost of Living Calculator for measuring the relative cost of living differences among urban areas in the United States as compiled by the Council for Community and Economic Research, or an equivalent cost of living calculator. 11 5. Entrepreneurial Services: EAC shall provide entrepreneurial assistance service referrals that provide business planning, partner referrals, sales introductions, networking and financing referrals for small business start-ups and expansions. 6. Enhancing Elgin: EAC shall develop a marketing plan with measurable outcomes for economic development and enhancing the quality of life in Elgin. Such marketing plan shall incorporate the results of the existing branding project with a specific plan for im- plementing the strategies identified in the second phase of the branding project. 7. Workforce Development: EAC shall continue promoting initiatives created to produce a "workforce ready" labor supply to new and expanding businesses, including, but not limited to, participating the following activities: a. Partnering with School District U46, Elgin Community College, Fox River Valley WIB, other governmental agencies and Elgin employers in efforts to develop and maintain a viable workforce for Elgin. b. Developing initiatives with local employers that area designed to retain the current Elgin workforce. c. Work with local schools and businesses to develop and publicize student intern- ship and apprenticeship programs. d. Continue supporting the implementation of the "WorkKeys" certification program and the use of the "Key Train" program at both the local and state level. e. Pursue partnerships and sponsorships with the "Dream !t Do !t" program to in- crease the awareness and interest of young adults for available opportunities in the manufacturing sector with Elgin businesses. f. Develop methods for acting as a conduit between local businesses, agencies, educational institutions and residents to promote the various resources available for developing a sustainable workforce. 8. Representation: EAC shall represent the City at various local, regional, state and fed- eral economic development meetings and events. Special Programs: 1. Transportation and Infrastructure: EAC shall seek all opportunities for participating in the planning and development of needed transportation and infrastructure projects throughout and impacting Elgin, Kane and Cook Counties including the Illinois 47 corri- dor. EAC shall assist the City in identifying and monitoring additional infrastructure 12 • f w needs and projects as agreed upon by both parties, such as broadband, rail, water, power and communications. 2. Alternative Energy Development Projects: EAC shall seek all opportunities for establish- ing a major leadership role in the region in the monitoring, planning, and development of alternative energy development projects, as well as identifying target industry clus- ters for workforce skill sets and employment attraction projects associated with the re- newable energy sector. 3. Legislative Support: EAC shall work with local, state and federal legislators on all sig- nificant economic and business issues. 4. Buy Illinois: EAC shall examine the feasibility of supporting and promoting the "Buy Illi- nois" website (www.buyillinois.net) to area business owners. The Buy Illinois website can assist Elgin businesses market their commercial products and services to potential customers across the State of Illinois. 5. Secondary Business Financing: EAC will provide assistance to Elgin businesses in ap- plying for and obtaining funding through low-interest business financing, available re- volving loan programs and assistance with DCEO assistance programs. IN WITNESS WHEREOF, the parties hereto have entered into and executed this agreement effective as of the date and year first written above. CITY OF ELGIN: ELGIN AREA CHAMBER OF COF4ERCE: r By: .(.`ll g By: j City Manager Presiders Attest: City Clerk 13