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PROFESSIONAL_SERVICESAPPROVED

City of Faribault Economic Development Authority Agenda Packet 2026-06-18

EDA Approves $50,000 Service Agreement with Chamber for 2025

$50,000 (2025)City of FaribaultFARIBAULT AREA CHAMBER OF COMMERCE AND TOURISMJune 18, 2026

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Description

The Faribault Economic Development Authority approved a 2025 service agreement with the Faribault Area Chamber of Commerce and Tourism, providing $50,000 for business retention, coaching, incubator management, and downtown initiatives. Future payments are currently deferred pending assessment of Chamber staffing and capacity.

Contract Details

Contract Amount

$50,000 (2025)

Vendor

FARIBAULT AREA CHAMBER OF COMMERCE AND TOURISM

Agency

City of Faribault, MN

Contract Type

PROFESSIONAL_SERVICES

Document Date

June 18, 2026

Contract Term

2025 (quarterly payments, subject to review)

Renewal Date

2025-12-31

Renewal Info

Quarterly payments subject to progress updates. Staff recommendation is to defer further payments and evaluate future partnership/funding through the 2027 budget process.

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