In order to memorialize certain terms and responsibilities as it relates to the administration of the New Port Richey Main Street Program, a Memorandum of Understanding has been drafted for your review and consideration. The proposed agreement affirms the importance of a four point program approach and sets forth the performance requirements for both parties. If approved, the Memorandum of Understanding will be for a term of one year effective as of October 1, 2022 and will expire on September 30, 2023.
It should be noted that New Port Richey Main Street, Inc. has requested an increase in funding of $8,000 for the upcoming year in order to increase the salary of the current Executive Director from $30,000 to $38,000. After review of the request, it is staff's recommendation to decline the request at this time.
A copy of the proposed budget submitted by New Port Richey Main Street, Inc. along with the request for the increase in funding is attached for reference.
RECOMMENDATION:
Staff recommends that the Board of Directors authorize the Executive Director to enter into a Memorandum of Understanding with New Port Richey Main Street, Inc. as submitted.
BUDGET / FISCAL IMPACT:
Funding for this request is budgeted in the Community Redevelopment Agency budget account number 630080-43461.