Logan to give presentation about entrepreneurial project

By Brie Handgraaf

Staff Writer

0 Comments | Leave a Comment

Among the topics up for discussion at today’s Committee of the Whole meeting is a presentation by Assistant City Manager Tasha Logan about an entrepreneurial accelerator in downtown Rocky Mount.

“The goal is to turn lots of fuzzy ideas into sustainable products, services and enterprises,” stated documents for the Innovate North Carolina! Labs program.

More commonly called INC! Lab, Logan said the cooperative project among government, education and private sectors will provide low-cost space on the third floor of the Imperial Centre for Arts and Sciences to 12-to-15 entrepreneurs. In addition to space, the participants will have access to experts, education and events designed to “rekindle the entrepreneurial spirit that originally made North Carolina successful.”

According to the agenda, the city would need to fund heating, ventilation and air-conditioning improvements to the space, which could range between $20,000 and $30,000. Once up and running, staff recommends developing an escalating lease that takes into account the up-fit investment as well as the city’s improvements.

“Recent studies have shown ecosystem development for start up communities to have strong return on investment for economic development as a whole,” the documents state.

Also at the 2 p.m. meeting will be third-quarter financial report, a presentation by the internal auditor and a presentation on a marketing study and new website for the Tar River Transit Authority.

During the 4 p.m. meeting, the council will hear from members of the public on an application for installment purchases of $875,000 in costs for transfer station improvements and Sunset Park tennis court renovations.

If approved, the contract will be with Southern Bank & Trust Company for 59 months at a fixed interest rate of 1.35 percent.

Also on the agenda is a resolution to authorize $1.8 million in installment purchases for 14 pieces of heavy equipment. If approved, the contract would be for 36 months at a fixed interest rate of 1.027 percent with US Bancorp.

Other agenda items include a grant application to the Rocky Mount Community Foundation for three line sets for the theatre at the Imperial Centre and request from the DoubleTree by Hilton to launch fireworks on May 3 for visiting athletes.