PURPOSE:

The purpose of this report is for the Redevelopment Agency Board to appoint one of its members as a voting member of the Executive Board of the Economic Alliance of the San Fernando Valley.

BACKGROUND:

The Economic Alliance of the San Fernando Valley is a private, non-profit economic development and marketing collaborative made up of private and public investors organized for the purpose of growing and sustaining the economic base of the San Fernando Valley.  Member cities include Burbank, Calabasas, Glendale, Los Angeles and San Fernando.  The Economic Alliance undertakes various initiatives to strengthen the economy of the entire San Fernando Valley such as the Business Assistance Program, which helped attract Yahoo! to the City of Burbank.

Each year, the Burbank Redevelopment Agency contributes $25,000 towards the Economic Alliance and is represented on the Executive Board by a member of the Redevelopment Agency Board. 

With the resignation of Agency Member, Stacey Murphy, a new member of the Agency Board needs to be appointed to the Executive Board of the Economic Alliance.

RECOMMENDATION:

It is recommended that the Redevelopment Agency Board appoint one of its members to the Economic Alliance of the San Fernando Valley.

Econalliance