HomeMy WebLinkAboutPR 23842: EDC, APPROVING AN INVOICE IN THE AMOUNT OF $5,695.00 FROM IMPACT DATASOURCE, LLC 0
PORT*ARTHUR
ECONOMIC DEVELOPMENT CORPORATION
INTEROFFICE MEMORANDUM
Date: July 9,2024
To: The Honorable Mayor and City Council
Through: Ronald Burton,CPM I City Manager
From: Terry Stokes,PAEDC Chief Executive Officer
RE: PR 23842—Approval of Invoice#21209 for the Impact DashBoard subscription with
Impact DataSource,LLC,in an amount not to exceed$5,695.00
Introduction:
The intent of this Agenda Item is to seek City Council's approval for the Port Arthur EDC to approve
payment of Invoice #21209 for the Annual Impact DashBoard subscription with Impact
DataSource, LLC.
Background:
PAEDC has utilized the service of Impact DataSource, LLC over the last several years. Impact
DataSource, LLC provides important information to communities to make good decisions with
economic development resources. Specifically, Impact DataSource, LLC takes abstract factors
like number of jobs and capital investment and translate them into new tax revenues; producing a
bottom-line net benefit, where our community can evaluate Return on Investment(ROI)and make
confident business decisions
Budgetary Impact:
The budgetary impact of this item is $5,695.00, funds available in EDC Account
No. 120-80-625-5450-00-00-000.
Recommendation:
It is recommended that the City Council of the City of Port Arthur approve for the Port Arthur EDC to pay
Invoice#21209 for the Annual Impact DashBoard subscription with Impact DataSource, LLC.
P.R. 23842
7/9/2024 JMC
RESOLUTION NO.
A RESOLUTION APPROVING AN INVOICE IN THE AMOUNT OF
$5,695.00 FROM IMPACT DATASOURCE, LLC OF AUSTIN, TEXAS, TO
THE PORT ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION FOR AN ANNUAL SUBSCRIPTION TO PRODUCE
PROJECT ECONOMIC AND FISCAL IMPACT REPORTS. FUNDS
AVAILABLE IN ACCOUNT NO. 120-80-625-5450-00-00-000.
WHEREAS, the City Council deems it is the public interest to authorize the City of Port
Arthur Section 4A Economic Development Corporation (the "PAEDC") to subscribe to Impact
DataSource, LLC for project economic and fiscal impact reports; and
WHEREAS, Impact DataSource, LLC provides important information to communities to
make good decisions with economic development resources; and
WHEREAS, Impact DataSource, LLC takes abstract factors like number of jobs and
capital investment and translates them into new tax revenues and produces a bottom-line net
benefit, where our community can evaluate Return on Investment (ROI) and make confident
business decisions; and
WHEREAS, the annual subscription fee for one year is $5,695.00 as detailed on the
Invoice attached hereto as Exhibit"A"; and
WHEREAS,PAEDC Board of Directors reviewed and approved the invoice at its regular
meeting on July 1, 2024.
NOW THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR,TEXAS:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That the PAEDC is herein authorized to pay to Impact DataSource, LLC an
amount of$5,695.00 as detailed on the Invoice attached hereto as Exhibit"A"; and
Section 3. That a copy of the caption of this Resolution be spread upon the Minutes of the
City Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2024, at a
Meeting of the City Council of the City of Port Arthur,Texas,by the following vote: AYES:
Mayor
Councilmembers
NOES:
Thurman Bartie, Mayor
ATTEST:
APPROVED:
lifi4
Terry Stokes, PAEDC Chief Executive Officer
APPROVED AS TO FORM:
Charles Zech, PAEDC Attorney
APPROVED AS TO FORM:
'1,14,1,,,t,_ PVt-7— 6Ct---diL___
Jim M. Black,Interim City Attorney
APPROVED AS TO AVAILABILITY OF FUNDS:
Lynda Boswell, Finance Director
Exhibit " A"
Impact DataSource, LLC II ■
7500Rialto Blvd Bldg 1 Ste 250 Austin,
• •• IMPACT
Austin,TX 78735 US 1111 ..
DataSource
INVOICE
BILL TO INVOICE 21209
Michelle Palmer DATE 06/14/2024
PortArthur Economic Development Corporation TERMS Net 30
4173 39th St. DUE DATE 07/14/2024
Port Arthur,Texas 77642
United States
ITEM DESCRIPTION QTY RATE AMOUNT
Impact DashBoard Annual Subscription through May 31,2025 1 5,695.00 5,695.00
Please pay by check.ACH. EFT.or BALANCE DUE $5,695.00
EFT Routing Number: 111000025
Wire Routing Number:026009593
Bank Acct#: 586021924249
Bank of America's SWIFT Code for US dollar denominated wires is BOFAUS3N.
The SWIFT code for wires sent in foreign currency pion-US dollars)to Bank of
America in the United States is BOFAUS6S.
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