TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: Scott Agajanian, Economic Development Director
PREPARED BY: Martha Samaniego Management Analyst
SUBJECT:
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Acknowledgment of Application for U.S. Economic Development Administration Build to Scale Grant
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RECOMMENDATION
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Receive and file;
Authorize the application for a grant from the U.S. Economic Development Administration's Build to Scale program to fund a wet-lab manager, the programming, marketing, and ongoing operations of the Murrieta Innovation Center; and
Approve the partnership with Murrieta Partnership DBA "Impact" Inc. (501c3) for the commitment of matching funds in the amount of $800,000 if awarded the Build to Scale grant.
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PRIOR ACTION/VOTE
The City of Murrieta was notified by the U.S. Department of Commerce Economic Development Administration on April 20, 2022, of Award # 07-01-07778 in the amount of $2,429,910 to renovate the Murrieta Innovation Center (MIC). That grant funding is currently being utilized to build a wet-lab and modern incubator space at the MIC, for which the City will be going out to bid for construction in November 2024.
CITY COUNCIL GOAL
Aggressively pursue economic development.
BACKGROUND
The City of Murrieta (City) Economic Development Department, in partnership with Murrieta Partnership DBA "Impact" Inc. (501c3), is applying for a grant from the U.S. Department of Commerce's Build to Scale program, which is administered by the Economic Development Administration (EDA). This new grant would be used to fund lab management, operational materials, educational programming, and support services for innovators at the MIC.
The City is in the process of issuing bid documents in November 2024, for the construction of the new space within the MIC. To properly run this new incubator space, considering the ongoing management and operating costs at the MIC, the City has been seeking new funding options. The Build to Scale Gran...
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