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AGREEMENT FOR ECONOMIC DEVELOPMENT SERVICES BETWEEN THE CITY OF BATESVILLE, ARKANSAS AND THE BATESVILLE AREA CHAMBER OF COMMERCE This Agreement is entered into this Q2 day of August, 2021 by and between the City of Batesville, Arkansas (the City), and the Batesville Area Chamber of Commerce (the Chamber) pursuant to the following terms and conditions: RECITALS WHEREAS, the Batesville City Council agrees and acknowledges that a vibrant economic development program is essential to the public health, safety, and welfare of the City; and WHEREAS, the City lacks both the staff and the resources adequate to pursue economic development efforts; and WHEREAS, the City issued a Request for Proposals (" RFP") for economic development consulting services and the Chamber responded to the RFP; and WHEREAS, the Chamber has been selected to provide the economic development services as described in the RFP; and WHEREAS, the City has appropriated fifty thousand dollars ($50,000.00) to pay the Chamber for providing the City with economic development services during the fiscal year 2021; and WHEREAS, the parties are entering into this Agreement pursuant to Amendment No. 97 to the Arkansas Constitution and the Local Job Creation, Job Expansion, and Economic Development Act of 2017 (the "Act") for proper public purposes, including the creation of new jobs, job retention and the expansion of the City's tax base by construction or improvements to real property; and WHEREAS, the parties acknowledge that this Agreement is an economic development service contract authorized under Amendment No. 97 to the Arkansas Constitution and Arkansas Code Annotated Section 14-176-105.