HomeMy WebLinkAboutResolution Fort Worth Local Development Corporation (FWLDC) FWLDC-2021-10RESOLUTION NO. FWLDC-2021-10
FORT WORTH LOCAL DEVELOPMENT CORPORATION
RESOLUTION
OF THE BOARD OF TRUSTEES
Authorizing a Vendor Seri,ices Agreement in an Amount Up To $737,000
xmith Schaefer Advertising Co., Ltd. for the Development of a
Messaging Strategy to Promote Economic Development in the City of Fort Worth
WHEREAS, the City Council of the City of Fort Worth ("City") adopted the Economic
Development Strategic Plan on December 12, 2017 (the "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
"[a]ttract 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 (the "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 lof
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 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
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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 ("Schaefer") was selected as the RFP finalist;
WHEREAS, due to a variety circumstances, the Corporation's Board of Trustees has not
met since the selection of the finalist, and Schaefer began in July 2021 to perform initial discovery
and research related to a messaging platform, to 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, and to perform other initial activities;
WHEREAS, the Board of Trustees 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 at the October 19 meeting for further discussion;
WHEREAS, the Board of Trustees now desires to approve an agreement to retain Schaefer
to provide marketing services, which agreement shall have an agreed term beginning October 1,
2021, to encompass the services already performed as well as services to be performed, as set forth
in the attached Exhibit "A" (the "Services").
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE FORT WORTH HOUSING FINANCE CORPORATION:
1. THAT the Board authorizes the execution and delivery of an agreement (the "Agreement")
by and between the Corporation and Schaefer in substantial conformity to the Services for
a term beginning October 1, 2021 and ending on September 30, 2024, for a total cost not
to exceed $737,000.00.
2. THAT the Board expressly ratifies any work performed on the Services by Schaefer prior
to the date of this Resolution, and ratifies the payment to Schaefer therefor in accordance
with the terms of the Agreement.
3. THAT any authorized signatory of the Corporation are each authorized to execute and
deliver the Agreement for and on behalf of the Corporation along with any related
documents necessary to implement the Agreement, and each is authorized to extend,
modify and amend the Agreement, provided any such extensions, modifications and
amendments are within the scope of the project.
4. THAT this Resolution takes effect from the date of its adoption.
AND IT IS SO RESOLVED.
Adopted October 19, 2021.
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FORT WORT LOCAL DEVELOPMENT CORPORATION
rI
By. a'
Gyna ivens, President