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EDC staff seeks $34,000 in software subscriptions to centralize incentive tracking and business-recruitment tools
Summary
EDC staff presented a package of software licenses to automate incentive compliance, business retention and recruitment tracking, and real-estate listings. Staff estimated a $34,000 annual subscription cost with about $10,000 in subscription reductions from replaced services; procurement and implementation steps were approved to continue.
EDC staff presented a proposal to buy several software subscriptions intended to centralize incentive- and compliance-tracking, improve business recruitment and retention analytics, and provide a public-facing real-estate listing tool.
Clancy told the board the EDC currently lacks a centralized tool for incentive compliance tracking, business recruitment metrics and return-on-investment modeling. The proposal bundles several modules — incentive/compliance tracking, BRE (business retention and expansion) tools, ROI/incentive modeling and a real-estate listing platform — and staff said one vendor’s combined offering covers much of the department’s needs.
Staff presented a preliminary annual cost estimate of about $34,000 for the full suite and said that letting existing contracts expire would reduce recurring costs by about $10,000, yielding a net increase of roughly $24,000 annually. Staff also reported an approximately $12,000 savings on the foot-traffic tool through vendor consolidation. The proposal would be a multiyear subscription (three years), allowing full implementation and evaluation over time.
Board members asked procurement and technical questions: how much data entry would be required, whether the vendors are cloud based, data ownership on contract termination and whether any modules are sole-source. Staff said existing incentive and BRE databases would be migrated into the new system during onboarding, that the software is web-based and that the EDC would retain administrative access to historic data if a subscription ended. Staff confirmed they are coordinating with the procurement manager and the city’s IT review.
Directors directed staff to continue procurement diligence, seek required quotes and return with an actionable recommendation. The board did not take an immediate procurement vote; instead the board asked staff to proceed with due diligence and return next month with preferred vendors, procurement steps and an implementation timeline.
