6.0. EDSR 06-10-2002 - Laserfiche WebLink

Home Browse Search

development activities, including business recruitment and marketing. He also launched the company's corporate giving program, which among other issues, provided financial support to many local, regional, and statewide • economic development groups. Prior to joining UPA in 1989, Mr. Martin spent fourteen years as City Manager and Community Development Director in three rapidly growing Twin Cities suburban communities, and as a Land Use Planning&Development Coordinator for the City of Rochester and Olmsted County,MN. In addition to his professional positions, Mr. Martin has been actively involved as a board member of several regional and national foundations and non-profit organizations that focus on affordable housing, economic development financing,and expanding economic opportunities for low-income families. Mr. Martin is a Certified Development Finance Professional and a graduate of the Urban and Regional Studies Institute at Minnesota State University-Mankato. Employees,Equipment,and Office Space It is the intent of MCCF that it shall not have any employees,equipment,or office space during the three-year period following the Initial Closing. All management and staff support will be provided by Scott Martin and the staff of the Northland Institute. In addition, Northland Institute will provide the use of all necessary equipment and office space. See"Summary of Management Agreement". Summary of Management Agreement MCCF has entered into a Management and Service Agreement with the Northland Institute, a Minnesota nonprofit corporation ("Institute") with offices at 13911 Ridgedale Drive, Suite 260, Minneapolis, MN 55305 to furnish management, administrative and operational services ("Management Agreement"). The following is a summary of pertinent terms of the Management Agreement: • Management Duties and Responsibilities. Management duties and responsibilities to be performed • by the Institute on behalf of MCCF broadly encompass the following: o Institute shall allow its Chief Executive Officer, Scott Martin, to serve as Chief Executive Officer of MCCF without additional charge for such services. Mr. Martin shall report to the Board of Directors of MCCF; o The implementation and development of the operations of MCCF within the general policy guidelines and budgetary restraints established by the Board of Directors of MCCF,including without limitation,responsibility to perform all of the duties of Fund Manager; o Institute will be responsible for negotiations and serve as the first point of contact for Members and inquires of others regarding MCCF and its operations; o Institute will provide fiscal management and administration for all programs, grants and contracts. • Personnel and Support Staff. Institute shall provide,at its cost, personnel sufficient to carry out the operations of MCCF at the level shown in the Projections and Assumptions of MCCF. • Space and Equipment. Institute shall provide within its offices without charge all space and equipment necessary to the operations of MCCF. • Term. The Management Agreement is for a term of approximately three years extending from the earlier of the Initial Closing or July 1,2002 to August 30,2005. • Compensation. Institute shall receive compensation for startup services during the 60 days following • the Initial Closing on a cost reimbursement basis, with support staff time being charged at $90 per hour. In addition, Institute shall receive reimbursement for travel and other out of pocket expenses during this period. Commencing with the third month following the Initial Closing, Institute shall 13