HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2022-17RESOLUTION NO. FWLDC-2022-17
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing a Second Amendment to the Agreement with
Sch aefer A dvertising Co., Ltd. for the Expansion of the Scope of Work
and Additional Fees
WHEREAS, the City Council of the City of Fort Worth ("City") adopted the Economic
Development Strategic Plan on December 12, 2017 ("Strategic Plan") that includes a goal to
"Establish Fort Worth's Competitive Edge", known as "Goal 1", which goal included an initiative
related to "Marketing & Target Industry Recruitment";
WHEREAS, the Marketing & Target Industry Recruitment initiative of Goal 1 is to attract
new investments and businesses into the community, focusing on target industries that align with
Fort Worth's assets;
WHEREAS, the Strategic Plan also made a finding that, "A successful marketing program
requires highly -targeted messaging aimed at specific audiences," and "Generic marketing and
promotional efforts[ ... ] will not be sufficient to differentiate the city for business recruitment"
and "in addition to using customized messaging, the community's business recruitment efforts will
benefit from a set of bold and creative tactics aimed at generating leads from new sources (both
from within the metro area and from national and international markets.)";
WHEREAS, the Fort Worth Local Development Corporation ("Corporation") was created
in 1987 to assist the City with, among other things, the creation of jobs and other economic
development activities of the City;
WHEREAS, the Corporation desires to assist the City with the achievement of Goal 1 of
the Strategic Plan by engaging a marketing firm to develop an overarching messaging plan to
promote the City of Fort Worth in its initiative to foster and promote economic development, which
should be specific to ongoing economic development activities, projects, and the goals established
in the City of Fort Worth's Economic Development Strategic Plan;
WHEREAS, on August 18, 2020, the Corporation Board of Trustees ("Board") approved
$102,000 in the Fiscal Year 2021 budget for marketing and research efforts, but several marketing
initiatives were paused or delayed due to ongoing business stabilization efforts due to effects of
the COVID-19 pandemic, which resulted in $50,000 remaining in the Fiscal Year 2021 budget for
marketing and research efforts ("FY21 Marketing Funds");
WHEREAS, on April 6, 2021, a competitive Request for Proposals for marketing services
was issued seeking a firm who would collaborate with the City of Fort Worth Economic
Development Department to develop a messaging plan with the objectives to (1) support new and
Resolution — FWLDC-2022-17
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existing business growth by increasing awareness of Fort Worth's benefits as a place to live, work
and do business; (2) highlight and encourage entrepreneurship and innovation throughout Fort
Worth; and (3) leverage opportunities for community revitalization through investments in small
businesses and targeted development opportunities; and in June 2021, Schaefer Advertising
Agency Co., Ltd. ("Schaefer") was selected as the RFP finalist;
WHEREAS, in July 2021, Schaefer began to perform initial discovery and research related
to a messaging platform and develop formal recommendations based on the initial discovery and
research for the development of a creative brand identity for the City of Fort Worth's economic
development initiative;
WHEREAS, the Board approved a resolution in September 2021 to pay Schaefer $13,000
for preliminary activities and preparation completed from July 1 - September 30, 2021, and
requested an additional presentation for further discussion;
WHEREAS, following the presentation on October 19, 2021, the Board approved an
agreement to retain Schaefer ("Agreement") to provide marketing services from October 1, 2021
- September 30, 2024, for a total cost not to exceed $737,000.00;
WHEREAS, the anticipated costs for the Year 1 Messaging Platform were documented as
$372,070 for the services identified in the scope of work for the Agreement;
WHEREAS, the Board approved an expanded the scope of work, including an expanded
media budget, additional creative assets and associated agency fees and to add an additional
$215,500 to Schaefer's contract for use during Year 1 (October 1, 2021 - Sept. 30, 2022); and
WHEREAS, following the presentation of Schaefer's Year 2 Strategic Plan to the Board,
the Board desires to approve an amendment to the Agreement to expand the scope of work,
including an expanded media budget, additional creative assets and associated agency fees and to
add an additional $290,600 to the Agreement with the services to be performed more particularly
set forth in Exhibit "A", attached hereto and made a part hereof for all purposes ("Expanded
Services").
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE FORT WORTH LOCAL DEVELOPMENT CORPORATION:
1. The Corporation is hereby authorized to execute an amendment to the Agreement
providing for the performance of the Expanded Services for Year 2 and an addition of $290,600,
resulting in an increase of the total amount for the Agreement from $952,470 to $1,243,070.
2. All other provisions of the Agreement that are not amended as authorized herein
remain in full force and effect.
3. This Resolution takes effect from the date of its adoption.
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Adopted this November 29, 2022.
By:
..... . . .. . .... .......
Alan Blaylock
Vice President
Attest:
Jannette S. Goodall
Corporate Secretary