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43-09 ResolutionRECORD OF RESOLUTIONS Form No. 30045 43-09 Resolution No. Pn.rsecl 20 A RESOLUTION AUTHORIZING THE CITY MANAGER TO ESTABLISH A GREENT I\TCUBATOR WITHIN THE DUBLIN ENTREPRENEURIAL CENTER A\'D TO EXECUTE A LEASE AGREEMENT WITH 7001 POST ROAD, LLC. WHEREAS, Dublin's dynamic local economy is the direct result of an entrepreneurial spirit; and WHEREAS, the City of Dublin recognizes that in addition to its efforts to retain, expand and attract business, the City must also set the conditions for job creation; and WHEREAS, the City of Dublin must facilitate entrepreneurship in order to increase the level of entrepreneurial activity and improve the chances of establishing successful technology enterprises by honing skills and providing access to necessary tools, technical and financial resources, and by working proactively to enhance the local entrepreneurial environment; and WHEREAS, it is the goal of the City of Dublin to accelerate the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services in order to produce successful companies that will be financially viable, freestanding and create quality jobs for the region; and WHEREAS, the Dublin Entrepreneurial Center has experienced much success in a short period of time by providing an environment that is attractive to new start-up companies as both a place to physically locate as well as obtain the necessary support services; and WHEREAS, this effort is consistent with Dublin City Council's goals to achieve a higher level of distinction and establish Dublin's competitive edge, set the standard as a leading green community, and provide regional leadership; and WHEREAS, several start-up green companies have been identified and have expressed an interest in physically locating in and/or accessing the services made available by the Dublin Entrepreneurial Center; and WHEREAS, a green incubator will promote and develop the green industry and potentially create new green jobs. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Dublin, ~ of its elected members concurring, that: Section 1. The City Manager is hereby authorized to establish a Green Incubator within the Dublin Entrepreneurial Center for the purpose of promoting the growth of the green industry and related jobs within the City of Dublin. Section 2. The City Manager is hereby authorized to execute a lease agreement with the 7001 Post Road, LLC for the purpose of securing the necessary space to establish the Green Incubator and to permit the use of such space by start-up green companies as determined by the City Manager or his designee/s. Section 3. This Resolution shall be effective upon passage in accordance with Section 4.04(a) of the Revised Charter. Passed this ~~ day of , 2009. Mayor -Presiding Officer ATTEST: Clerk of Counci] CITY OF DUBLIN- Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017-1090 Phone: 614-410-4400 • Fax: 614-410-4490 To: All Members Dublin City Council From: TeiYy Foegler, City Manager -r~~ Date: September 3, 2009 Memo Initiated By: Dana L. McDaniel, Deputy City Manager/Director of Economic Development Re: Resolution 43-09 - Establishing a Green Incubator Background Attached for your consideration is Resolution No. 43-09 authorizing the City Manager to establish a Green Incubator within the Dublin Entrepreneurial Center (DEC) and to enter into a Lease Agreement with 7001 Post Road, LLC. The DEC, located at 7003 Post Road, is experiencing great progress since its opening in April of this year. To date, 14 new companies, one Edison Center, a tier one auto supplier, and (potentially) the Ohio Fuel Cell Coalition have established a presence at the DEC. One of these companies, Vitality, has exceeded projections, is retaining two offices on the fourth floor and has leased half the offices on the second floor due to its growing staff. Eleven additional start-up companies, some with multiple employees, have expressed an interest in locating at the DEC. The owner is agreeable to allowing additional office leases on the remainder of the second floor. It is possible that all offices on the second, third and fourth floors of the DEC will be leased by year end. Staff is working with the building owner to place and lease cubicles in the open areas of the DEC as well. Several activities such as Jellies, co-working opportunities, and TechLife meet-ups have and will continue to occur at the DEC. These networking events have been well attended and are growing. Several training opportunities have been provided at the DEC. Staff and collaborators with the DEC are scheduling ongoing training opportunities well into the future. The combination of networking events, training opportunities and partnerships with collaborators (i.e., TechColumbus, Small Business Development Council, Ohio Department of Development, independent consultants and firms, etc.) provide a great resource for the idea stage and for start- up and new companies. Summary Given the amount of success at the DEC and the dwindling supply of offices, staff desires to secure the final suite of five offices and associated common space on the third floor of the DEC to establish a Green Incubator. The purpose of the incubator is to promote the creation of new green companies and green technology ideas resulting in new green jobs. Staff considers this an incubator only because some level of lease subsidy may be provided to the companies. However, it is highly possible that some companies will not need a subsidy. Staff desires to spend up to Memo re. Resolution 43-09 - Establishing a Green Incubator September 3, 2009 Page 2 of 2 $25,000 per year for two years to lease the space and provide appropriate tenant fit-up (painting and minor technology upgrades). Funding for the first year is currently avallabie in the 2009 Economic Development incentives budget With the assistance of Get-U-Cotnected, a start-up at the DEC, Staff has identified 27 green companies in and around Dublin. Five of these companies who are true start-ups desire to locate at the DEC. More companies are likely to make themselves known once the announcement of a green incubator is made. Staff will monitor and report to Council the progress of the Green Incubator. Recommendation Staff requests approval of Resolution 43-09. This Resolution is supportive of the following Council goals: 1. Achieve a higher level of distinction and establish Dublin's competitive edge. 2. Set the standard as a leading green community. 3. Provide regional leadership. Please address any questions to Dana McDaniel. Thank you.