DEFAULT AND CANCELLATION. Failure of the MCCD to perform any of its obligations under this Agreement to the satisfaction of the CDA will constitute a default hereunder. Unless MCCD’s default is cured within 15 days following notice by the CDA, the CDA may (i) cancel this Agreement in its entirety by 5 additional days’ written notice to MCCD, or (ii) withhold payment from MCCD as long as such default continues. The Laws of the State of Minnesota shall govern all questions and interpretations concerning the validity and construction of this Agreement and the legal relations between the parties and their performance. The appropriate venue and jurisdiction for any litigation will be those courts located within the County. Litigation, however, in the federal courts involving the parties will be in the appropriate federal court within the State of Minnesota. If any provision of this Agreement is held invalid, illegal or unenforceable, the remaining provisions will not be affected. By:_ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Executive Director Date: 3/10/2021 By: Printed Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Printed Title: Chief Executive Officer Municipality Local Government Entity Total Fee CDA Share of Fee Local Government Entity Participation Fee Eagan Eagan Economic Development Authority $15,000 $7,500 $7,500 Burnsville City of Burnsville $15,000 $7,500 $7,500 Lakeville City of Lakeville $15,000 $7,500 $7,500 Apple Valley Apple Valley Economic Development Authority $13,000 $6,500 $6,500 Inver Grove Heights Inver Grove Heights Economic Development Authority $11,000 $5,500 $5,500 Hastings Hastings Economic Development and Redevelopment Authority $9,000 $4,500 $4,500 Rosemount Rosemount Port Authority $9,000 $4,500 $4,500 Farmington Farmington Economic Development Authority $9,000 $4,500 $4,500 South St. ▇▇▇▇ South St. ▇▇▇▇ Economic Development Authority $9,000 $4,500 $4,500 West St. ▇▇▇▇ ▇▇▇▇ St. ▇▇▇▇ Economic Development Authority $9,000 $4,500 $4,500 Mendota Heights City of Mendota Heights $5,000 $2,500 $2,500 Small Cities and Townships n/a $6,000 $6,000 $0 Total $125,000 $65,500 $59,500 MCCD will provide intensive one-on-one technical assistance to Municipalities’ and Small Cities’ and Townships’ businesses, residents and aspiring entrepreneurs intending to establish, purchase, or improve a business in Municipalities and Small Cities and Townships within Dakota County (the “County”). MCCD will dedicate one full time staff person based in the County to provide the Technical Assistance Services (“Dakota OTB Staff”). In addition, MCCD will make available the expertise of all MCCD technical and support staff in the delivery of services to Dakota Open to Business Program. Technical assistance includes, but is not limited to, the following: ⮚ Business plan development ⮚ Feasibility analysis ⮚ Marketing ⮚ Cash flow and other financial projection development ⮚ Operational analysis ⮚ City and State licensing and regulatory assistance ⮚ Loan packaging, and other assistance in obtaining financing ⮚ Help in obtaining competent legal advice MCCD Dakota OTB Staff will be available to meet clients at the CDA office building, various Municipality city halls or at the client’s place of business. During the COVID-19 pandemic, MCCD Dakota OTB staff will only meeting clients in-person if the MCCD Dakota OTB staff are comfortable; otherwise, client meetings will be held virtually and/or on the phone. Access to capital will be provided to qualifying businesses through MCCD’s Emerging Small Business Loan Program (see Exhibit C Small Business Loan Program Guidelines below). MCCD also provides it’s financing in partnership with other community lenders, banks or Local Government Entities interested in making capital available to residents and/or businesses in their community. • Up to $25,000 for start-up businesses • Larger financing packages for established businesses • Designed to leverage other financing programs as well as private financing provided by the commercial banking community.
Appears in 1 contract
Sources: Contract for Services
DEFAULT AND CANCELLATION. Failure of the MCCD to perform any of its obligations under this Agreement to the satisfaction of the CDA will constitute a default hereunder. Unless MCCD’s default is cured within 15 days following notice by the CDA, the CDA may (i) cancel this Agreement in its entirety by 5 additional days’ written notice to MCCD, or (ii) withhold payment from MCCD as long as such default continues. The Laws of the State of Minnesota shall govern all questions and interpretations concerning the validity and construction of this Agreement and the legal relations between the parties and their performance. The appropriate venue and jurisdiction for any litigation will be those courts located within the County. Litigation, however, in the federal courts involving the parties will be in the appropriate federal court within the State of Minnesota. If any provision of this Agreement is held invalid, illegal or unenforceable, the remaining provisions will not be affected. By:_ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Executive Director Date: 3/10/2021 By: Printed Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Printed Title: Chief Executive Officer Municipality Local Government Entity Total Fee CDA Share of Fee Local Government Entity Participation Fee Eagan Eagan Economic Development Authority $15,000 $7,500 $7,500 Burnsville City of Burnsville $15,000 $7,500 $7,500 Lakeville City of Lakeville $15,000 $7,500 $7,500 Apple Valley Apple Valley Economic Development Authority $13,000 $6,500 $6,500 Inver Grove Heights Inver Grove Heights Economic Development Authority $11,000 $5,500 $5,500 Hastings Hastings Economic Development and Redevelopment Authority $9,000 $4,500 $4,500 Rosemount Rosemount Port Authority $9,000 $4,500 $4,500 Farmington Farmington Economic Development Authority $9,000 $4,500 $4,500 South St. ▇▇▇▇ South St. ▇▇▇▇ Economic Development Authority $9,000 $4,500 $4,500 West St. ▇▇▇▇ ▇▇▇▇ St. ▇▇▇▇ Economic Development Authority $9,000 $4,500 $4,500 Mendota Heights City of Mendota Heights $5,000 $2,500 $2,500 Small Cities and Townships n/a $6,000 $6,000 $0 Total $125,000 $65,500 $59,500 MCCD will provide intensive one-on-one technical assistance to Municipalities’ and Small Cities’ and Townships’ businesses, residents and aspiring entrepreneurs intending to establish, purchase, or improve a business in Municipalities and Small Cities and Townships within Dakota County (the “County”). MCCD will dedicate one full time staff person based in the County to provide the Technical Assistance Services (“Dakota OTB Staff”). In addition, MCCD will make available the expertise of all MCCD technical and support staff in the delivery of services to Dakota Open to Business Program. Technical assistance includes, but is not limited to, the following: ⮚ Business plan development ⮚ Feasibility analysis ⮚ Marketing ⮚ Cash flow and other financial projection development ⮚ Operational analysis ⮚ City and State licensing and regulatory assistance ⮚ Loan packaging, and other assistance in obtaining financing ⮚ Help in obtaining competent legal advice MCCD Dakota OTB Staff will be available to meet clients at the CDA office building, various Municipality city halls or at the client’s place of business. During the COVID-19 pandemic, MCCD Dakota OTB staff will only meeting clients in-person if the MCCD Dakota OTB staff are comfortable; otherwise, client meetings will be held virtually and/or on the phone. Access to capital will be provided to qualifying businesses through MCCD’s Emerging Small Business Loan Program (see Exhibit C Small Business Loan Program Guidelines below). MCCD also provides it’s financing in partnership with other community lenders, banks or Local Government Entities interested in making capital available to residents and/or businesses in their community. • Up to $25,000 for start-up businesses • Larger financing packages for established businesses • Designed to leverage other financing programs as well as private financing provided by the commercial banking community.
Appears in 1 contract
Sources: Joint Powers Agreement
DEFAULT AND CANCELLATION. Failure of the MCCD to perform any of its obligations under this Agreement to the satisfaction of the CDA will constitute a default hereunder. Unless MCCD’s default is cured within 15 days following notice by the CDA, the CDA may (i) cancel this Agreement in its entirety by 5 additional days’ written notice to MCCD, or (ii) withhold payment from MCCD as long as such default continues. The Laws of the State of Minnesota shall govern all questions and interpretations concerning the validity and construction of this Agreement and the legal relations between the parties and their performance. The appropriate venue and jurisdiction for any litigation will be those courts located within the County. Litigation, however, in the federal courts involving the parties will be in the appropriate federal court within the State of Minnesota. If any provision of this Agreement is held invalid, illegal or unenforceable, the remaining provisions will not be affected. By:_ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇, Acting Executive Director Date: 3/10/2021 By: Printed Name: ▇▇▇▇▇ ▇▇▇▇▇▇▇ Printed Title: Chief Executive Officer Date: Municipality Local Government Entity Total Fee CDA Share of Fee Local Government Entity Participation Fee Eagan Eagan Economic Development Authority $15,000 15,533 $7,500 7,767 $7,500 7,766 Burnsville City of Burnsville $15,000 15,533 $7,500 7,767 $7,500 7,766 Lakeville City of Lakeville $15,000 15,533 $7,500 7,767 $7,500 7,766 Apple Valley Apple Valley Economic Development Authority $13,000 15,533 $6,500 7,767 $6,500 7,766 Inver Grove Heights Inver Grove Heights Economic Development Authority $11,000 12,956 $5,500 6,478 $5,500 6,478 Hastings Hastings Economic Development and Redevelopment Authority $9,000 10,342 $4,500 5,171 $4,500 5,171 Rosemount Rosemount Port Authority $9,000 10,342 $4,500 5,171 $4,500 5,171 Farmington Farmington Economic Development Authority $9,000 10,342 $4,500 5,171 $4,500 5,171 South St. ▇▇▇▇ South St. ▇▇▇▇ Economic Development Authority $9,000 10,342 $4,500 5,171 $4,500 5,171 West St. ▇▇▇▇ ▇▇▇▇ St. ▇▇▇▇ Economic Development Authority $9,000 10,342 $4,500 5,171 $4,500 5,171 Mendota Heights City of Mendota Heights $5,000 5,170 $2,500 2,585 $2,500 2,585 Small Cities and Townships n/a $6,000 8,032 $6,000 8,032 $0 Total $125,000 140,000 $65,500 74,018 $59,500 65,982 MCCD will provide intensive one-on-one technical assistance to Municipalities’ and Small Cities’ and Townships’ businesses, residents and aspiring entrepreneurs intending to establish, purchase, or improve a business in Municipalities and Small Cities and Townships within Dakota County (the “County”). MCCD will dedicate one full time staff person based in the County to provide the Technical Assistance Services (“Dakota OTB Staff”). In addition, MCCD will make available the expertise of all MCCD technical and support staff in the delivery of services to Dakota Open to Business Program. Technical assistance includes, but is not limited to, the following: ⮚ Business plan development ⮚ Feasibility analysis ⮚ Marketing ⮚ Cash flow and other financial projection development ⮚ Operational analysis ⮚ City and State licensing and regulatory assistance ⮚ Loan packaging, and other assistance in obtaining financing ⮚ Help in obtaining competent legal advice MCCD Dakota OTB Staff will be available to meet clients at the CDA office building, various Municipality city halls or at the client’s place of business. During the COVID-19 pandemic, MCCD Dakota OTB staff Staff will only meeting clients inprovide technical assistance on a walk-person in basis monthly in each Municipality, if the requested. MCCD Dakota OTB staff are comfortable; otherwise, client meetings will be held virtually and/or on the phonealso hold two-hour “Test Drive Your Business Idea” sessions once a month in various Municipality locations. Access to capital will be provided to qualifying businesses through MCCD’s Emerging Small Business Loan Program (see Exhibit C Small Business Loan Program Guidelines below). MCCD also provides it’s financing in partnership with other community lenders, banks or Local Government Entities interested in making capital available to residents and/or businesses in their community. • Up to $25,000 for start-up businesses • Larger financing packages for established businesses • Designed to leverage other financing programs as well as private financing provided by the commercial banking community.
Appears in 1 contract
Sources: Joint Powers Agreement