Item 4JItem 4J Approve a Consulting Agreement in the amount of $75,000 with TIP Strategies, Inc. for preparation of an Economic Development & Tourism Strategic Plan, an element of the Southlake
2030 Plan
Greg Last
Director of Economic Development
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EDT Plan - Background
$75,000 budgeted for FY out of Strategic Initiative Fund
RFQ developed and distributed
7 firms responded
Interviewed 3 firms
Checked references for preferred team of TIP Strategies, Inc. and Vicky Soderberg
Developed Consulting Agreement
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Consultants
Primary consultant would be TIP Strategies, Inc. (www.tipstrategies.com), based in Austin. The firm’s primary focus is strategic economic development planning.
Vicky Soderberg of Cygnet Strategies is sub-contracted through TIP to guide the Tourism aspects for the project.
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Scope of Work
The overall goal is to have the consultant create a successful, sustainable and implementable Economic Development and Tourism Strategic Plan through the development of goals, objectives
and measurable implementation policies which are consistent with the City’s overall Comprehensive Plan and City Strategic Plan.
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SWOT analysis of E.D. efforts
Identify target companies likely to relocate to the City
Identify the means to market to target companies
Develop a clear understandable incentive policy
Review the City’s current Business Retention & Expansion Plan
Scope of Work – E.D.
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Identify the destination strengths and likely visitors
SWOT analysis of tourism and visitor marketing efforts
Identify programs and events
Identify programs supporting hotel accommodations
Evaluate hotel promotional packages
Identify measureable marketing programs
Promote and strengthen existing businesses
Prioritize expenditure of HOT funds
Prioritize marketing activities and programs
Scope of Work – Tourism
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Anticipated Schedule
April 26-30: Kick off meetings
May 24: Discovery trip / interviews
June 22-23: Interviews / EDT mtgs
August 10: SPIN
August 18: Southlake Business Council
Sept. 9: P&Z Commission
Sept. 21: City Council
Questions?
Greg Last
(817) 748-8037
Staff recommends approval of a Consulting Agreement in the amount of $75,000 with TIP Strategies, Inc. for preparation of an Economic Development & Tourism Strategic Plan