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Home My WebLink AboutRESOLUTION - 11-17 - 3/14/2017 - Agreement NLNW between Villages RESOLUTION NO. 11-17 A RESOLUTION AUTHORIZING THE MAYOR TO SIGN AND DIRECT THE VILLAGE CLERK TO ATTEST AN INTERGOVERNMENTAL AGREEMENT FOR THE PURPOSES OF ESTABLISHING THE NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR BETWEEN THE VILLAGE OF ELK GROVE VILLAGE,VILLAGE OF HANOVER PARK,VILLAGE OF HOFFMAN ESTATES, CITY OF ROLLING MEADOWS, AND THE VILLAGE OF SCHAUMBURG NOW,THEREFORE,BE IT RESOLVED by the Mayor and Board of Trustees of the Village of Elk Grove Village, Counties of Cook and DuPage, State of Illinois as follows: Section 1: That the Mayor be and is hereby authorized to sign the attached document marked: AN INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR a copy of which is attached hereto and made a part hereof as if fully set forth and the Village Clerk is authorized to attest said documents upon the signature of the Mayor. Section 2: That this Resolution shall be in full force and effect from and after its passage and approval according to law. VOTE: AYES: 6 NAYS: 0 ABSENT: 0 PASSED this 1411day of March 2017. APPROVED this 14th day of March 2017. APPROVED: Mayor Craig B. Johnson Village of Elk Grove Village ATTEST: Loretta M. Murphy,Village Clerk INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR THIS INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST(NLNW) BUSINESS ACCELERATOR AGREEMENT("Agreement") dated the day of 2017, is by and between the VILLAGE OF ELK GROVE, ("Elk Grove"), VILLAGE OF HANOVER PARK, ("Hanover Park"), VILLAGE OF HOFFMAN ESTATES, ("Hoffman Estates"), the CITY OF ROLLING MEADOWS,("Rolling Meadows"), and the VILLAGE OF SCHAUMBURG, ("Schaumburg"), which all are Illinois municipal corporations forming the Region("Region"). WITNESSTH: WHEREAS,the parties hereto are units of Local Government and the Constitution of the State of Illinois,1970, Article VII, Section 10, authorizes units of local government to contract or otherwise associate among themselves in any manner not prohibited by law or ordinance; and WHEREAS, Chapter 5, Illinois Compiled Statutes, Act 220, Section 1, et sect., as amended, entitled the "Intergovernmental Cooperation Act," provides that any power or powers, privileges or authority exercised or which may be exercised by a unit of local government may be exercised jointly with another unit of local government; and WHEREAS,each of the parties is a home rule unit of local government as provided by Article VII, Section 6 of the Illinois Constitution of 1970, and has the authority to exercise any power and perform any function pertaining to its government and affairs except as limited by Article VII, Section 6 of the Illinois Constitution of 1970; and WHEREAS, municipal economic development best practices are evolving to place a greater focus on business retention and innovation; and WHEREAS,the Edward Lowe Foundation studies private sector business growth and development, and as a result of its scientific analysis, issued guidelines for State and Local Government on the need to promote business development utilizing a business accelerator model; and WHEREAS, the municipalities of Elk Grove Village, Hanover Park, Hoffman Estates, Rolling Meadows, and Schaumburg value business development as a method of increasing the local tax base and growing the regional economy; and WHEREAS,the State of Illinois is lagging the nation in job growth as well as leading the nation in out-migration, and as a result, this Region is desirous of protecting and enhancing its reputation as a destination for business; and 2 INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR WHEREAS, for the above reasons,the parties are desirous of collaborating on the creation of a regional, not-for-profit business accelerator program to grow business development, increase jobs, and enhance the reputation of the Region as a destination for business success. NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein,the municipalities of Elk Grove Village, Hanover Park, Hoffman Estates, Rolling Meadows, and Schaumburg (hereafter"Municipal Partners") agree as follows: 1. To seed fund the start-up of a business entity intended to be known as Next Level Northwest ("NLNW") as a tax-exempt, not-for-profit corporation according to IRS requirements, to serve as a business accelerator following the terms and conditions outlined herein or as mutually modified or agreed by all the Municipal Partners. 2. Prior to the creation of NLNW,the municipal managers (City or Village Manager of each party) will serve as the incorporators. In addition, each municipality will designate a representative to serve on the Master Design Team of the NLNW. The Master Design Team will function as an executive committee overseeing the administrative details of this agreement and making recommendations to the Board of Directors. 3. The Municipal Partners agree that the purpose of NLNW is to grow the regional economy, strengthen new business development, and increase the diversity of the business base. Through these goals all Municipal Partners can protect and advance the economic prosperity of the Region. NLNW is to serve as a regional collaborator for business development in northwestern Cook and northern DuPage Counties, as a business accelerator for Stage 2 businesses therein, and as a facilitator of continuing education, development, and innovation. 4. NLNW is to be designed to meet the short and long-term goals below: (a) Establish NLNW as a tax-exempt,Not-For-Profit Illinois Corporation; (b) Support Stage 2 business leaders in growing their businesses (a Stage 2 business is defined by the Edward Lowe Foundation as having between 10 and 100 employees and revenues between $750,000.00 to $50,000,000.00). This definition serves as a benchmark only as each party reserves the right to recruit any business it deems fit by size or industry; (c) Increase business flexibility in adapting to a rapidly changing external environment; (d) Achieve national prominence for business acceleration and performance excellence; (e) Create a regional network for business development and excellence that will include identifying physical locations and a virtual network through which ongoing education and development of business leaders can occur to support and enhance sustainability; and (f) Establish collaborative support with existing regional stakeholders. 3 INTERGOVERNMENTAL AGREEMENT NEXT LEVEL NORTHWEST (NLNW) BUSINESS ACCELERATOR 5. The work will begin upon approval of this Agreement by each Municipal Partner and will run through August 31, 2017, or until formal notification of incorporation is received from the State of Illinois and notification of IRS Form 1023 approval (tax-exempt status)by the IRS. 6. The implementation phase is defined as a three-year process encompassing the calendar years of 2017, 2018, and 2019, and will be devoted to program buildout including operations, marketing and fundraising. 7. Funding is as follows: (a) Start-up of NLNW with a payment of$15,000.00 by each Municipal Partner each year for a period of three years. (b) Payments will be made in $5,000.00 increments with payment due dates of April 1, 2017, June 1, 2017, and September 1, 2017, or for those parties who desire to make a single payment of$15,000.00, on April 1, 2017 in lieu of installments. At the termination of this Agreement, each Municipal Partner desiring to continue to participate in the program will have the ability to enter into a new agreement at a duration and contribution level to be determined at that time. (c) Payments shall be made to Elk Grove and may be disbursed to contractors or vendors retained for the purposes of this Agreement. Any contractor or vendor hired shall be approved by all Municipal Partners. IN WITNESS WHEREOF, we have executed this Agreement in the Year 2017 with each party executing a separate signature sheet. 4 For The Village of Elk Grove Village Craig B. Johnson Mayor Dater; ly Attest: Village Clerk 5 For The Village of Hanover Park Rodney S. Craig Village President Date Attest: Village Clerk 6 For The Village of Hoffman Estates William D. McLeod Mayor Date Attest: Village Clerk For The City of Rolling Meadows Tim Veenbaas Mayor Date Attest: City Clerk 8 For The Village of Schaumburg Al Larson Village President Date Attest: Village Clerk