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Council declines TIP Strategies funding; EDC to weigh three options for strategic-plan update
Summary
City council voted not to fund the proposed TIP Strategies update; EDC staff presented three alternatives — staff-led update, board-led update, or hiring an internal data analyst — and noted the TIP proposal remains valid for 90 days at the quoted cost.
EDC staff updated the board after city council declined to approve funding for an economic-development strategic-plan update proposed from TIP Strategies. Staff said the council apparently misunderstood the requested amount and voted against contracting for the work; council members instead suggested updating the plan without an outside firm.
Staff presented three options for completing the strategic-plan update: (1) staff (Hayden and staff) produce the update in-house, (2) the EDC board undertakes the update itself, or (3) the EDC requests budgeted funding to create an internal data-analyst position that would perform the work. Staff cautioned that TIP Strategies has access to proprietary data and platforms that would be costly to replicate internally and that the TIP proposal price is valid for 90 days.
Board members discussed pros and cons: an outside consultant brings specialized data access and credibility with developers, while an in-house analyst would carry ongoing salary and benefit costs along with subscription fees for data tools. Members recommended preparing a comparative cost analysis (showing total internal costs including subscriptions and benefits) and suggested a joint discussion with city council to align expectations.
Separately, staff reported that council approved a B-board small-business grant program (budgeted at $50,000) to run as a matching 50/50 grant; staff said outreach and application materials will be shared and staff will visit local businesses to promote the program. EDC staff also announced upcoming outreach at ICSC Red River (Feb. 16–18) and monthly business-depot luncheons.
