Date: February 22, 2018
To: Members of the Economic Development Authority
From: Nate Carlson, Economic Development Coordinator
Chris Heineman, Community Development Director
Title
Presentation from Riverwalk Market Fair
Body
Summary:
Representatives from the Riverwalk Market Fair (RMF) will present the 2017 annual report per the contract requirements of reporting to the EDA. The mission of RMF Fair is to provide Northfield-area farmers, food artisans, and artists with a venue to show and sell their products during the summer months. As of February 2016, the EDA has maintained a four-year contract with the organization, which is attached for further information.
2018 marks the eighth year of the Riverwalk Market Fair in Northfield. Throughout these years, the EDA has been instrumental in the evolution of this valuable local community development initiative and has provided a total of $103,700 in funding for the River Walk Market Fair. A brief summary of the background of the RMF and EDA funding support is provided below.
In 2010 through 2011, the EDA approved funding in the amount of $23,000 for the initial start-up of the RMF. The EDA had determined the organization provided a public purpose and fell under the scope of work of the EDA. It was determined the best way to provide start-up funding to the RMF was by expanding the scope of services with the NDDC through the existing professional service agreement.
In 2012, the RMF requested funding assistance from the EDA in the amount of $16,100. The EDA approved the requested funding and asked RMF staff to develop sustainable business plan for the annual event.
In 2013, the EDA received a request for funding from the RMF in the amount of $23,600 which was funded at $18,000. The contract was also amended to require mid-year and annual reports containing the following reports:
1. Copies of all invoices for services paid by the EDA;
2. Copy of all print media paid for by the EDA, including publicatio...
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