Common use of Funding Plan Clause in Contracts

Funding Plan. The funding model for Quad Cities First regional economic development services is based on a minimum 2:1 (private to public) funding ratio. Public sector investments in regional economic development are based on a population ratio and per capita structure developed and agreed upon by city and county officials. Public sector payments for services are to be made to Quad Cities First on an annual schedule. . The estimated amount of public funding for the three year agreement will be based on an annual per capita formula: Year One = $1.31 per capita Year Two = $1.34 per capita Year Three = $1.37 per capita Private sector dollars supporting regional economic development are raised by the Quad Cities Chamber and allocated to Quad Cities First on a 2:1 ratio (private to public) to support the annual work plan and budget approved by the Quad Cities First Board of Directors.