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Joint Resolution and Interlocal Agreement Amendment - Execution and Implementation of Final Documentation Related to Previously Approved Dissolution and Liquidation of the Monroe-Union County Economic Development Commission
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INFORMATION CONTACT:
Brian Matthews, County Manager’s Office, County Manager, 704-292-2597
ACTION REQUESTED:
1) Adopt the Joint Resolution of the Union County Board of Commissioners and the Monroe City Council Dissolving the Monroe-Union County Economic Development Commission; and 2) Authorize the County Manager to negotiate and execute the Amendment to Interlocal Organization and Operating Agreement, substantially consistent with this agenda item.
PRIOR BOARD ACTIONS:
November 4, 2024, Regular Meeting, Agenda Item # 24-758 - Board adopted the “Resolution of the Union County Board of Commissioners Withdrawing from the Monroe-Union County Economic Development Commission”
BACKGROUND:
Effective January 1, 2022, Union County and the City of Monroe established the Monroe-Union County Economic Development Commission (the “Commission”) through adoption of a joint resolution establishing the Commission (the “Establishment Resolution”) and entering into an interlocal agreement concerning the Commission (the “Interlocal Agreement”), as a joint county-wide economic development program. On November 4, 2024, the Board adopted a resolution withdrawing from the Commission, terminating the Interlocal Agreement, and dissolving the Commission, effective November 4, 2026 (giving two years’ notice as required by statute, the Establishment Resolution, and the Interlocal Agreement).
The Board and the City of Monroe have determined it is now in their respective best interests to promote economic development activity through each entity’s own internal economic development efforts independent of the other, engaging in economic development project collaboration with each other on a case-by-case basis. The action requested gives effect to the dissolution of the Commission sooner than November 4, 2026, through adoption of the attached joint resolution adopted by the County and City. This resolution will allow for distribution of all Commission property prior to July 1, 2025. Effective July 1, 2025, the Commission will have no assets, but will remain in legal existence, under the control of the City of Monroe, until its ultimate dissolution on November 1, 2025, in order to allow for completion and approval of the Commission’s required FY 2025 audit, as well as any other outstanding obligations of the Commission.
The Establishing Resolution will be repealed and the Commission officially dissolved effective November 1, 2025.
FINANCIAL IMPACT:
County to receive certain Commission assets as set forth in the distribution attachment.