At previous meetings council discussed taking this action. Prior to approving this resolution, council unanimously approved a resolution to dissolve the village Community Improvement Corporation.
The resolution to join the CEP states the economic partnership will work with the village to develop and implement economic development, marketing, and outreach plans, represent the village as the economic development agency, serve as the enterprise zone manager and keep the village informed of the CEP's activities.
The resolution also states the CEP will receive an annual payment of $2,000 from the village starting in January 2019. The payment for 2018 will be prorated to a 6 month fee of $1,000.