HomeMy WebLinkAbout12.05.2005• •
COUNCIL WORK SESSION
December 5, 2005
4:30 p.m.
Council Chambers
Members present: Mayor Hurley, Kincaid, Cole, Greenwood, Clark, Schmitt, Welper.
Members absent: Gunderson.
Moved by Welper, seconded by Kincaid that the Agenda, as proposed, be approved. Ayes: Six.
Absent: Gunderson. Motion carried.
Maureen Collins Williams, Director of UNI Regional Business Center, reviewed the Center's
operation and MyEntre.Net, a new entrepreneurial system in the Cedar Valley. Ms. Williams
reviewed the area the Regional Business Center serves, its clients and type of work.
Ms. Williams discussed the incubator offices located in the former Osco building which is run by
the UNI Regional Business Center. There are seven office suites, with the businesses staying
from three months to two years. They have had 37 participants, with 24 graduates and have
provided $2.5 million in new business equity and provided infill of a little over 8,000 square feet
in the downtown. The Regional Business Center offers technical assistance, counseling, classes
and workshops.
Ms. Williams reviewed MyEntre.Net system. The system will begin in January 2006 and
addresses the critical needs of entrepreneurs and urban community leaders for technical
assistance and training, capital and networking to support locally -owned business development.
The Regional Business Center proposes to launch a multi -year initiative in partnership with the
Cedar Valley Alliance to launch MyEntreNet's entrepreneurial development system to support
the start and expansion of locally owned firms in the Cedar Valley. Three separate , but linked
regions would be served by this partnership: the east side of Waterloo, the greater
Waterloo/Evansdale region and Cedar Falls.
The Community Empowerment component of MyEntreNet provides community leaders with the
skills and assistance they need to support new and existing business development. A Task Force
will be organized comprised of business professionals, bankers, community leaders, faith based
representatives, neighborhood association members and entrepreneurs. A region -wide strategic
plan for entrepreneurship will be developed with the assistance of the UNI Institute of Decision
Making. Through Business Assistance, entrepreneurs receive education, counseling and training
in part through online technology. The MyEntreNet approach allows individual entrepreneurs
the ability to opt in or out of customized services throughout the year, while keeping them
networked with the community at large. The UNI Regional Business Center will provide
consulting services in community gathering places. The UNI Regional Business Center, local
professionals, UNI Business faculty or community leaders will provide workshops, seminars and
classes. Mentoring networks between existing business owners and new business owners will be
developed. These community based efforts will be supported by online resources, including chat
sessions, ongoing discussion forums and confidential online counseling.
In the Capitalization phase, the Task Force will be asked to inventory existing financing options
and other business incentives that are in place to support small businesses in the Cedar Valley.
They will identify gaps in these programs and seek new incentives through the creation of
partnerships with agencies and individuals within and outside the community.
The Regional Training Center hopes the mayor and council will support the new program by
speaking about MyEntreNet and referring others for mentoring.
With no further business before the council, it was moved by Welper, seconded by Clark that the
meeting be adjourned at 4:57 p.m. Ayes: Six. Absent: Gunderson. Motion carried.
Nancy Eckert
City Clerk