7.2 EDSR 06-17-2024 - Laserfiche WebLink

Home Browse Search

The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity Request for Action To Economic Development Authority Item Number 7.2 Meeting Date June 17, 2024 Prepared By Joshua Mollan, Economic Development Specialist Item Description Public Art Agreement Reviewed by Brent O'Neil Cal Portner Action Requested Approve, by motion, a professional services agreement between the EDA and Carey Dean. Background/Discussion At its March meeting, the EDA supported moving forward with the public art project "Where Energy Flows" by Carey Dean. Staff will show Carey around FT Center in June to determine final art placement as well as for her to sign her portion of the professional services agreement. Per the agreement, $8,000 will be due to Carey upon signing, with the remaining $12,000 to be paid upon completion of the project. The project is projected to have funding from the following sources: • The EDA has approved contributing $10,000 to the project. • Central Minnesota Arts Board (CMAB) has approved granting $8,000 to the project. CMAB will pay out 80% ($6,400) of the grant to the EDA soon after staff provides the executed PSA. The remaining 20% ($1,600) will be paid to the EDA after completion and acceptance of the final report which will be completed by staff. • The remaining $2,000 is available for willing business sponsors. Financial Impact $20,000 in EDA outlays. $10,000 from EDA funds, $8,000 from CMAB, and $2,000 in private contributions. Mission/Policy/Goal Support Elk River’s existing businesses through relationship building, programmatic offerings, and high quality city services. Attachments 1. EDA Carey Dean Agreement 2. Carey Dean Packet Page 88 of 104