Funding Agreement for Community Services - EDA

This contract is a funding agreement between Bay County and the Bay County Economic Development Alliance for community services. The EDA is a public/private partnership that aims to establish Bay County as a globally competitive environment to conduct business, encourage economic growth, and enhance the standard of living and quality of life. The contract is for a term of one year, from October 1, 2024, to September 30, 2025. The County shall pay the EDA $164,517.00, payable in twelve monthly payments of $13,709.75. The EDA agrees to provide the County with audited financial statements and to indemnify the County against any claims or liabilities. Key aspects of this contract include: • The EDA's purpose is to promote economic growth and development in Bay County. • The contract term is for one year, with a total payment of $164,517.00. • The EDA is required to provide audited financial statements and to indemnify the County against any claims or liabilities. • The County may terminate the contract for good cause, including failure to comply with the terms of the agreement.