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Newark MDD approves $4,500 contract to develop incentives policy
Summary
The City of Newark Municipal Development District on June 12 approved a professional services agreement with EDP Best Practices, LLC to develop an incentives policy, amending the 2025 budget to fund the contract with a not-to-exceed cost of $4,500. The motion passed unanimously.
Board President Curtis Cardwell called the meeting to order at 6:30 p.m. and announced a quorum was present.
The City of Newark Municipal Development District (MDD) unanimously approved a professional services agreement with EDP Best Practices, LLC to develop an incentives policy, with a not-to-exceed cost of $4,500 to be funded from the NMDD budget. Board Member Thomas Cook moved to amend the 2025 budget to include the professional services agreement; Board Vice President Kris Marques seconded and the motion passed with all voting in favor.
The agreement directs staff to engage EDP Best Practices to produce an incentives policy for the district. The minutes record that the budget amendment was approved at the same time as the contract authorization; the approved funding source is the NMDD budget and the dollar amount is explicitly listed as $4,500.
No council members attended the meeting. City Admin Staff Michelle Peterson and Board Member Kevin Steidel later summarized ideas and materials provided at a recent council meeting and by council members prior to the session to help shape future MDD planning and budgeting.
The board adjourned at 7:34 p.m.
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