HomeMy WebLinkAbout553154 CSU VENTURES INC - CONTRACT - AGREEMENT MISC - CSU VENTURES INCDocuSign Envelope ID: 8D36811 E-59CE-47BC-A5A5-57CE52805133F
Economic Health Office Grant Agreement
THIS AGREEMENT is made and entered into as of the date of acceptance by the City, by and
between the CITY OF FORT COLLINS, COLORADO, a municipal corporation ("City") COLORADO STATE
UNIVERSITY VENTURES, Inc. ("Recipient").
RECITALS:
A. In 2004, the Fort Collins Economic Vitality and Sustainability Group recommended that
certain business cluster be investigated as economic development strategies.
B. In 2006, City Council, through the Budgeting for Outcomes Process, funded the Industry
Cluster Analysis and Targeting Study, which established goals and criteria, such as "grow and retain
existing businesses," "high employment multiplier effects," and more.
C. On March 21, 2006, the City Council adopted Resolution 2006-037, authorizing the City
Manager to join efforts with Colorado State University ("CSU"), the Northern Colorado Economic
Development Corporation, Fort Collins Area Chamber of Commerce, Poudre School District, Larimer
County, and private enterprises, to develop a Clean Energy Cluster for Northern Colorado.
D. The strong relationship between the City, CSU, Front Range Community College,
entrepreneurs, and local businesses provides an outstanding collaborative setting within which
these entities can work together for the betterment of the community and region.
E. Fort Collins has a highly educated workforce capable of providing an intelligent pool of
highly capable researchers able to enhance existing technologies and develop new innovative
strategies and products.
F. It is in the best interests of the City of Fort Collins, Larimer County, and the State of
Colorado to develop employment that is economically stable, and nationwide attention is being
paid to the concept of local and regional industry clusters as a means of furthering the economic
health of communities.
G. The clustering of related industries calls for a high degree of collaboration among
individuals, businesses, and public entities in the development, design, production, transfer, and
information and marketing of a particular kind of product in a single geographic location, on the
theory that such entities can better further their industry objectives through such close interaction
and collaboration.
H. The 2012 Economic Health Strategic Plan highlighted supporting the growth of the
innovation economy by creating a stronger Nexus for Innovation in Fort Collins and the Front
Range, fostering a nurturing entrepreneurial culture, a
technology commercialization and development.
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I. In 2015-2016, through the City's Budgeting for Outcomes process, the City has funded
Colorado State University Ventures — Advanced Industries Proof of Concept Program $50,000
annually, to leverage the State of Colorado's Advanced Industries Proof of Concept program at an
anticipated ratio of 3:1(State:City).
NOW, THEREFORE, in consideration of their mutual promises contained herein, the parties agree as
follows:
The Recipient shall use the funds provided under this Agreement in accordance with the
Recipient's Proposal, which is attached as Exhibit A and incorporated herein by this reference
("the Project"). Any funds received by the Recipient under this Agreement and not reasonably
necessary to carry out the Project shall be returned to the City within thirty (30) days of
completion of the Project.
2. Any modification of the implementation of the Project from that indicated in the Recipient's
application must receive prior written approval of the City.
3. For implementation of the Project, the Recipient shall receive payments as set forth below on
an ANNUAL basis, in the total amount of no more than $50,000 which shall be expended by the
Recipient to complete the Project no later than December 31, 2016.
4. The Recipient shall provide the City with copies of receipts by November 30, 2015, and a written
evaluation of the Project documenting accomplishments, results achieved, community impact,
and monetary and other returns if applicable including jobs created. A report template is
available on Economic Health Office ("EHO") website. Additionally, successful Recipients may be
required to participate in an annual EHO conference, EHO/Cluster marketing materials, and
serve as a cluster ambassador.
5. The Recipient agrees to make all records pertaining to activities carried out under this
Agreement reasonably available to the City for audit upon request for at least three (3) years
following the fulfillment of this Agreement. Except to the extent indicating compliance with this
Agreement, all information provided under such an audit is hereby indicated by Recipient as
confidential and believed to be subject to an exception to public disclosure laws.
6. If any provision of this Agreement is not met in the manner and time specified herein by the
Recipient, the Recipient shall be in breach and the City may terminate the Agreement. Upon
such termination, the Recipient shall return to the City all funds paid and not expended in
accordance with this Agreement within thirty (30) days following receipt of the written request
from the City to do so. This shall be the sole remedy available to the City against Recipient.
7. This Agreement is not assignable without prior written consent of the City, in its sole discretion,
and any assignment without the City's prior written consent shall be deemed null and void and
a material breach of this Agreement.
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8. If the Project involves a specific site, the Recipient hereby represents and warrants that they
have the permission of the owner of the site upon which the Project will take place, and further
represents and warrants that it is fully authorized to undertake the activities.
9. This Agreement shall terminate upon expiration of all performance periods, including but not
limited to all requirements related to recordkeeping and auditing, as set forth herein.
10. At all times during the performance of this Agreement, the Recipient shall strictly adhere to all
applicable federal, state and local laws, rules and regulations that have been or may hereafter
be established.
11. The signatories maintain that to their knowledge, no City employee has a personal or beneficial
interest whatsoever in the service or property described herein. While there may be City
employees that work with the Recipient, no such employees are parties hereto or will receive
payment through the receipt of the grant funds provided hereunder.
12. The Recipient shall indemnify, save and hold harmless the City, its officers, employees and
agents against any and all claims, damages, liability and court awards, including costs, expenses
and attorney fees incurred as a result of any act or omission by the Recipient, its employees,
agents, subcontractors or assignees arising from their performance under this Agreement or
arising from the Project.
13. Funds shall be payable to the Recipient in accordance with the following schedule: 1 payment of
$50,000 within ten (10) days after the effective date of this Agreement, payable upon
acceptance of this agreement by the City. The City may suspend payment until any default
under this Agreement has been cured, or, in the event of failure by the Recipient to cure any
default or pay any amount due to the City that has become overdue and delinquent, within
fifteen (15) days after written notice by the City, the City may terminate this Agreement and
shall have no obligation to make any further payment hereunder.
14. The City and the EHO are subject to the Colorado Open Records Act (C.R.S. 24-72-101 through
24-72-112). Thus, documents and other materials received by EHO and its employees under this
Agreement from the Recipient may be subject to public disclosure unless they fall within an
exception under the Act. EHO will deny the right of inspection of records which the City believes
are considered under the Act to be trade secrets, privileged information, and confidential
commercial and financial data, any of which Recipient must clearly indicate at the time it is
provided to EHO. Upon receiving an official open records request, EHO will promptly notify the
Recipient and as needed, seek legal guidance from the City Attorney.
15. If the Recipient is a corporation or other entity, the person signing this Agreement on behalf of
the Recipient hereby affirms that he or she has authority to act on behalf of the Recipient and
to bind the Recipient to the terms of this Agreement.
16. Additional terms and conditions specific to this Agreement may be attached as Exhibit B and
incorporated herein by this reference.
DocuSign Envelope ID: 8D3B811E-59CE47BC-A5A5-57CE52B05B3F
IN WITNESS WHEREOF, the parties hereto have executed this Agreement this 23`d day of April, 2015.
AGREED BY:
Recipient
Sigrsad by:ByFf7ia
Title President
MAI w ent
On Behalf of the Recipient
Address PO Box 483, Fort Collins 80522
Phone (970) 491-7100
SEAS,
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THE CITY O� LLINS, COr RADO:
By
Gerry Paul
Director of Purchas7j/
and Risk Management
DATE: S ��
City Clerk
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DocuSign Envelope ID: 8D3B811E-59CEAMC-AM5-57CE5260563F
Exhibit
Proposed Scope of Work for City of Fort Collins
Department of Economic Health Project 46.15
"Support CSU Ventures —Advanced Industries Proof of Concept Program"
Background:
CSU Ventures, Inc. (CSUV) is the designated entity to manage the application process for the State of
Colorado's Advanced Industries (Al) Proof of Concept (POC) Program for Colorado State University (CSU)
based projects. The $50,000 of annual funding for two years from the City of Fort Collins, through the
Department of Economic Health, will be used as matching funds for the Al POC Program, which requires
a 1.3 (matching funds : state funds) match. Availability of these matching funds is critical to generating
new opportunities with the potential to create new, technology/knowledge-based jobs in Northern
Colorado.
State funding for the Al POC Program is administered in two ways; a portion of the funding is allocated
to Colorado research institutions in proportion to their research activities, while the remainder of the
funding is placed in a general, competitive state pool. The funding allocated to CSU under the program
is managed by CSUV. At least once a year, CSUV publishes a Request for Proposals (RFP) - an open
solicitation for Al POC proposals from CSU researchers. CSUV manages the competitive selection
process, coordinating review and ranking by a selection committee comprised of internal and external
experts to ensure adherence to the guidelines (e.g. job creation in Colorado). Highly ranked projects are
recommended for funding, which the Colorado Office of Economic Development and International
Trades (OEDIT) normally approves, based on the CSUV's recommendation. Proposals that are not
funded are encouraged to apply for funding from the state pool.
CSU applicants seeking funding from the state pool must contact CSUV to receive access to an online
application in the state's application portal. Proposals are then reviewed by external reviewers retained
by OEDIT. Proposals are selected for funding based on a review process managed by OEDIT.
Implementation:
Al POC proposals from CSU researchers will be reviewed, scored and ranked according to the process
described above. For the proposals that meet the Al POC criteria and as CSUV deems appropriate, CSUV
will apply the $50k annually from the City of Fort Collins. CSUV will consider the potential to create
economic impact in Northern Colorado as a factor in determining how the city's funds will be deployed.
For example, the funds could be used as matching funding for both proposals funded through CSUV's
allocation and those applying for funding through the state pool. Alternatively, the funds could be used
for proposals that have not been able to secure matching funds or to increase proposal output by
augmenting existing matching funding to increase total project size, scope and/or impact.
Evaluation:
When evaluating the impact of this project on economic development in Northern Colorado, the
primary purpose of increasing the number of technology -based economic development opportunities
will be weighed most heavily. Therefore, during the two years of project funding, evaluation will focus
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on the directly measurable short term gain in terms of additional resources that the city's funding
brought to 'seed' additional opportunities and/or augment their economic impact.
For each POC project supported by the city's funds, the following information will be provided to show
the impact: 1) amount of city's funding used; 2) summary title and goal of the proposal; and 3) amount
of other funding leveraged by the proposal. Also, to the extent that such information is available
without violating confidentiality and other obligations, information that could be used as a basis for
evaluating the economic impact from the project will be provided, such as the number of start-up
companies created, the number of jobs created, and the amount of additional funding/capital attracted.
Although outside of the period during which CSUV is obligated to report results to the City of Fort
Collins, due to the fact that most projects will require POC research for 12-18 months, CSUV will commit
to providing a report summarizing the impacts and outcomes of projects supported by the city's funds
for additional two years (until 2018) beyond the funded period (2016).
Timeline:
CSUV is the access point to two "pools" of funds under the Al POC Program - CSU allocated and state
allocated. For CSU allocated funds, there is a competition at least once a year, usually near the end of
the calendar year. For the state allocated funds, there will likely be three rounds in 2015 — typically in
March, July and November.
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