Item Coversheet
CITY OF ORLANDO
AGENDA ITEM



Items Types: Economic Development

For Meeting of: 6/19/2017

District:On file (City Clerk):Yes



Subject:Funding Agreement Between the City of Orlando and CanvsORL, Inc. for the establishment of the Canvs-Parramore Facility
Summary:

CanvsORL, Inc., a Florida not-for-profit corporation 501(c)4, headquartered in Downtown Orlando, provides co-working space (17,000 sq.ft.) to anyone starting and growing a company.   Canvs has over 225 members representing over 100 companies and has served over 550 members since its inception in August 2015.  The mission of Canvs is to help transform Orlando into a nationally recognized center for technology-based startups and serves this mission through 3 operating principles:

1.     Make it easy for anyone to startup

2.     Increase the odds of success for those that do

3.     Inspire more people to startup

The Canvs-Parramore will serve as an extension to the Canvs-Downtown location.  This facility will support innovative start-ups within all industries.  There is a need for affordable, innovative, co-working space in Orlando. Canvs-Parramore will provide a collaborative environment for entrepreneurs that need space, resources and community-support to launch or expand their business.  The facility can accommodate fifteen desks and a conference room.  

Under the terms of the attached agreement, the City will provide $50,000.00 to CanvsORL, Inc to establish and operate the Canvs- Parramore facility at the Florida Interactive Entertainment Academy (FIEA), 500 Bentley Street, Orlando, Florida 32805.  The agreement includes exhibits outlining the following: Scope of Services (Exhibit A), Quarterly Performance Reports Schedule (Exhibit B) and Performance Measures (Exhibit C).  

Fiscal and Efficiency Data:Fiscal Impact Statement Attached.  
Recommended Action:Approval of the Funding Agreement Between the City of Orlando and CanvsORL, Inc. for the establishment of the Canvs-Parramore Facility, and authorizing the Mayor or Mayor Pro Tem and City Clerk to execute same, subject to review and approval of the City Attorney's Office.   
Contact:Lillian Scott-Payne 407.246.3648


ATTACHMENTS:
File NameDescriptionType
Canvs_-_Parramore_funding_agreement_-_final.pdfAgreement and ExhibitsBackup Material
CanvasORL__FIS.docxFiscal Impact StatementBackup Material

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