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agenda city of watsonville city council/redevelopment agency meeting

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• Santa Cruz County shall be listed as one <strong>of</strong> CSRC’s defined geographic areas on<br />

its application with the USCIS.<br />

• City <strong>of</strong> Watsonville/RDA projects described above shall be listed as the specific<br />

project on CSRC’s application seeking USCIS’s designation as a Regional<br />

Center.<br />

• CSRC shall promote the projects listed and recruit oversea investors and each<br />

qualifying investor shall invest at least $500,000. Upon USCIS’s approval <strong>of</strong><br />

CSRC’s application, recruited investors will assume passive roles during the<br />

entire the investment process.<br />

• Total amount <strong>of</strong> investment and the number <strong>of</strong> necessary direct and indirect job<br />

creations will depend upon the result <strong>of</strong> a detailed economic analysis <strong>of</strong> the City<br />

<strong>of</strong> Watsonville or other party as directed by the City <strong>of</strong> Watsonville.<br />

City <strong>of</strong> Watsonville/RDA:<br />

• City <strong>of</strong> Watsonville/RDA agree to have CSRC take part or be involved in all <strong>of</strong><br />

projects outlined above and other projects as agreed to by CSRC and the City <strong>of</strong><br />

Watsonville/RDA.<br />

• City <strong>of</strong> Watsonville/RDA will assist CSRC in obtaining information regarding<br />

said projects, including, but not limited to, business plan, site plan, phasing costs,<br />

associated economic analysis, job creation data analysis, and construction plan.<br />

• As part <strong>of</strong> CSRC’s application with the USCIS, City <strong>of</strong> Watsonville shall also<br />

provide City <strong>of</strong> Watsonville’s General Introduction and Support Letter stating<br />

City’s willingness to have CSRC as a Regional Center for investment purposes.<br />

Article 5: Proposed Timeline<br />

The proposed timeline for projects will be determined on a case-by-case basis. As<br />

projects are ready to commence, CSRC, The City <strong>of</strong> Watsonville and the project<br />

proponent will determine what investment is needed and the timeframe for delivering<br />

employment in accordance to the USCIS guidelines.<br />

Article 6: Binding Effect<br />

The MOU describes the general conditions and arrangements for future cooperation<br />

between the parties. Except Articles 7 and 8, this MoU is not legally binding on the<br />

parties. The exact terms and conditions <strong>of</strong> this future cooperation will be negotiated in<br />

due course and laid down in contract.<br />

Article 7: Confidentiality Agreement<br />

4

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