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22-917ORDINANCE NO.22-917 AN ORDINANCE APPROVING AN AGREEMENT BETWEEN THE CITY OF DENTON ANDHICKORY & RAfT, VENTURES, LLC, REGARDING AN ECONOMIC DEVELOPMENT PROGRAM FOR STOKE DENTON; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Denton (“City”) deems it is in the public interest and serves a municipal and public purpose to enter into an agreement with Hickory & Rail Ventures, LLC (“HRV”), for the purpose of providing for a program to promote economic development through the joint effort of the City and HRV; and WHEREAS, to achieve this public purpose, the City created Stoke Denton in 2016 to offer a co-working space and access to resources to support entrepreneurship, small business development, and the development of tech and tech-enabled businesses and workers; and WHEREAS, Stoke Denton is focused on the recruitment and support of tech and tech- enabled startups, as well as memberships of businesses in other sectors that are complementary to a healthy startup community; and WHEREAS, the City contracted with HRV on November 14, 2017 for the management and operation of Stoke Denton, and WHEREAS, HRV has submitted a proposal to the City for the continued support and management of Stoke Denton and entrepreneurship focused programming beginning July 1, 2022 in the amount of $143,170; and WHEREAS, Article III, Section 52-a of the Texas Constitution and Chapter 380 of the Texas Local Government Code authorize the City to enter agreements that promote local economic development and stimulate business and commercial activity in the City of Denton; and WHEREAS, the City agrees that HRV is uniquely positioned to continue management of Stoke Denton and can assist in the City’s strategic goals to support entrepreneurs, startups, and other small businesses and support the recruitment and growth of tech and tech-enabled businesses and workers; WHERAS, City Council deems it in the public interest to authorize such a payment and program agreement; NOW THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS : SECTION 1. The findings and recitations contained in the preamble of this ordinance are incorporated herein by reference. SECTION 2. The City Council finds that the Agreement between the City and Hickory & Rail Ventures, LLC, attached hereto and made a part hereof by reference (the “Agreement”) serves a valid municipal and public purpose and is in the public interest. SECTION 3. The Agreement shall be effective on July 1, 2022 and shall remain in full forceand effect until June 30, 2023 . SECTION 3. The City Manager is hereby authorized to execute the agreement between the City and Hickory & Rail Ventures, LLC, and the expenditure of funds and transfer of property pursuant to the Agreement is hereby authorized. SECTION 4. The City Council hereby expressly delegates the authority to take any actions that may be required or permitted to be performed by the City under the Agreement to the City Manager of the City, or the City Manager’s designee. SECTION 5. This Ordinance shall become effective upon its passage and approval. The motion to approve this seconded by JMEM the following vote []_ - a] : re andordinance was made by m) d bythe ordina Aye V/ \/ Nay Abstain Absent Mayor Gerard Hudspeth:Vicki Byrd, District 1 : Brian Beck, District 2: Jesse L. Davis, District 3 : Alison Maguire, District 4: Deb Armintor, At Large Place 5 : Paul Meltzer, At Large Place 6 : \/ 1/t/ b/ / PASSED AND APPROVED this the day of Jt1111111/ 2022 bamE B ATTEST : ROSA RIOS, CITY SECRETARY APPROVED AS TO LEGAL FORM: MACK REINWAND, CITY ATTORNEY BY: , zga gdr%Digitally signed by Scott BrayDate: 2022.04.29 1 3:18:14 -05'OO'BY: Page 2 AGREEMENT BETWEEN THE CITY OF DENTON, TEXAS AND HICKORY & RAIL VENTURES, LLC THIS AGREEMENT is made and entered into as of the J@ day of 7%%%,a ,2022 between the City of Denton, Texas, a home rule municipal corporation, hereinafter I€ferred to as the “City”, and Hickory & Rail Ventures, LLC hereinafter referred to as “HRV”, jointly referred to herein as “parties” and each separately as a “party.” WHEREAS, the City seeks to support, encourage, and promote the public purpose ofdriving new business creation and job growth by fostering a sustainable startup community for entrepreneurs primarily in early-stage tech and tech-enabled businesses; and WHEREAS, to achieve this public purpose, the City created in 2016 a co-working space with access to resources to support entrepreneurship, small business development, and the development of tech and tech-enabled businesses and workers (“Stoke Denton”); and WHEREAS, Stoke Denton is focused on the recruitment and support of tech and tech- enabled startups, as well as memberships of businesses in other sectors that are complementary toa healthy startup community; and WHEREAS, the City contracted with HRV on November 14, 2017 for the managementand operation of Stoke Denton, and WHEREAS, the City approved a one-year contract with HRV on April 20, 2021 to develop an economic development program for Stoke Denton focused on entrepreneurship; and WHEREAS, HRV has demonstrated that they can perform in these areas and has significantly increased programming and efforts to support creation of a successful entrepreneurial ecosystem; and WHEREAS, HRV has submitted a proposal to the City for the continued support and management of Stoke Denton and entrepreneurship-focused programming after June 30, 2022; and WHEREAS, Article III, Section 52(a) of the Texas Constitution and Chapter 380 of the Texas Local Government Code authorize the City to enter agreements that promote local economic development and stimulate business and commercial activity in the City of Denton; and WHEREAS, the City agrees that HRV is uniquely positioned to continue management of Stoke Denton and can assist in the City’s strategic goals to support entrepreneurs, startups, and other small businesses and support the recruitment and growth of tech and tech-enabled businessesand workers; NOW THEREFORE, in consideration of the covenants, promises, terms, and provisions contained herein, and for the considerations expressed herein, the City and HRV mutually AGREE to the following: 1 ARTICLE ISERVICES TO BE PROVIDED BY HRV HRV represents, acknowledges, warrants, and agrees to perform and provide the following with regard to its operation, purpose, and services provided for Stoke Denton: ( 1) Purpose. HRV agrees to operate Stoke Denton for the purpose of providing support to entrepreneurs, startups, small businesses, tech and tech-enabled workers, and remote workers in Denton. The goal of the partnership will be to build businesses, create jobs, and strengthen the culture and economy of the City of Denton. (2) Mission. HRV, through Stoke Denton, will support programs, partnerships, events, and activities that will build a supportive entrepreneurial ecosystem in the City of Denton. (3) Independent. HRV operates as a private legal entity separate from the City. This Agreement does not in any way constitute a joint venture or create a partnership or principal-agent relationship between the City and HRV. Neither party will assert control over the operations of the other party. (4) Organization. HRV is a Texas limited liability company duly organized and validly existing under the laws of the State of Texas and is qualified to do business in the State of Texas. HRV has the legal capacity and authority to enter into and perform its obligations under this Agreement. (5) Administration. HRV will administer funds, property, services, or other benefits in accordance with the following procedures and requirements: a. HRV shall maintain records and accounts that document all funds received by HRV and all costs incurred by HRV, including any in-kind support received byHRV b. HRV shall provide a report to the City of Denton Economic Development Partnership Board annually to summarize HRV’s financial information and benefit to the City as it relates to the performance under this Agreement. c. A copy of any HRV financial audits and required tax filings shall be provided to the City upon request. (6) Staff. HRV shall employ an Executive Director for the entirety of this Agreement. HRV must also maintain the appropriate staff to carry out the functions of Stoke Denton in accordance with this Agreement. The Executive Director and any other staff member of HRV are employees of HRV and shall not be considered an employee of the City and shall not be entitled to any payment or benefit from the City on account of services performed pursuant to this Agreement. 2 (7) Commercial space. HRV shall maintain a lease agreement for the Commercial Space and will maintain at its sole cost any utilities, contracts, equipment, supplies, or materials necessary to perform the obligations pursuant to this Agreement. (8) Equipment and Supplies. HRV shall provide any equipment, supplies, or materials necessary to fulfill the obligations of this Agreement, except those provided for in Article II of this Agreement. (9) Performance. HRV will perform all actions listed in Exhibit A “Scope of Work” attached hereto and incorporated herein for all purposes. (10) Reporting. HRV will attend meetings and submit reports on actions and progress according to the following schedule: a. Monthly meetings between Stoke Denton Executive Director and City’s Director of Economic Development.b. Progress on economic development strategic plan work plan items will be provided to City’s Director of Economic Development or designated staff as needed, but no less than quarterly. c. Quarterly reports to be provided by Stoke Denton Executive Director to City’s Director of Economic Development or designated staff, which must include the following: i. Number of active memberships ii. Percentage of tech or tech-enabled members, iii. Member satisfaction (at least annually), iv. Description of and number of regional startup and tech event sponsorships, v. Number of blog posts/content creation regarding Denton’s startup cornlnunlb vi. Social media metrics, vii. Description of and number of educational events or programs held at Stoke Denton. viii. Description of and number of startup/tech events held at Stoke Denton, ix. Number of mentor sessions held at Stoke Denton, and x. Description of activities with partner entities, including education, nonprofit, and government agencies. Annual report and presentation to the City’s Economic Development Partnership Board. d (11) Sponsorship and Acknowledgement. For any programs listed in Exhibit A which are supported by or partially supported by funding provided by this Agreement, the City must be listed as a co-sponsor and acknowledged on any applicable marketing materials and event materials, both verbally and in print, whenever possible. 3 ARTICLE II OBLIGATIONS OF THE CITY OF DENTON The City will provide the following to HRV: Funding. The City shall pay One Hundred Fourty-Three Thousand One Hundred Seventy Dollars ($ 143,170) to HRV to be utilized for the purposes set forth in Exhibit A. Payment shall be made no later than July 3 1, 2022. ARTICLE IIITERM OF THE AGREEMENT This Agreement shall be effective on July 1, 2022 and shall remain in full force and effect until June 30, 2023. The City or HRV shall have the right to terminate the Agreement, in whole or in part, without cause any time upon sixty (60) calendar days’ prior written notice to the other party. Upon receipt of a notice of termination by the City, HRV shall promptly cease all furtherwork pursuant to the Agreement, with such exceptions, if any, specified in the notice of termination. If this Agreement is terminated by HRV, or terminated for cause by the City because HRV fails to meet the performance requirements of this Agreement, HRV shall pay the City a prorated amount of the funds provided by the City pursuant to this Agreement, which amount shall be prorated to the months remaining in the term of this Agreement. ARTICLE IVASSURANCES BY THE PARTIES The following is a list of representations, assurances, understanding, policies, procedures, and agreements regarding the roles, relationship, and functions of the City and HRV in their working relationship pursuant to this Agreement: A. Any agreement between HRV and City that is not within the scope of the terms of this Agreement shall receive the prior approval of the City Council. B. HRV has no authority to supervise, direct, control, or demand that a City employee perform any function on behalf of HRV. C. This Agreement does not grant HRV authority to use the City’s name and trademarks unless directly specified in this Agreement. D Any personnel employed by or volunteering on behalf of HRV shall be deemed employees or volunteers respectively of HRV and shall not be deemed employees or volunteers of the City. HRV shall be responsible for the supervision, management, and control of such HRV employees and volunteers and any payroll, taxation, or other employment obligation, if any, incident to their work. Any personnel employed by or volunteering on behalf of the 4 City shall be deemed employees or volunteers respectively of the City and shall not be deemed employees or volunteers of HRV. The City shall be responsible for the supervision, management, and control of such City employees and volunteers and any payroll, taxation, or other employment obligation, if any, incident to their work. E. HRV shall maintain general liability insurance in the amount of $1,000,000 and in accordance with City insurance requirements, including adding the City as an additional insured party. F. HRV will appoint a representative who will be available to meet with City officials when requested. G.HRV AGREES TO INDEMNIFY, HOLD HARMLESS, AND DEFEND THE CITY,ITS OFFICERS, AGENTS, AND EMPLOYEES FROM AND AGAINST ANY ANDALL CLAIMS OR SUITS FOR INJURIES, DAMAGE, LOSS, OR LIABILITY OFWHATEVER KIND OR CHARACTER, ARISING OUT OF OR IN CONNECTIONWITH THE PERFORMANCE BY HRV OR THOSE SERVICES CONTEMPLATED BY THIS AGREEMENT, INCLUDING ALL SUCH CLAIMSOR CAUSES OF ACTION BASED UPON COMMON, CONSTITUTIONAL, OR STATUTORY LAW, OR BASED, IN WHOLE OR IN PART, UPONALLEGATIONS OF NEGLIGENT OR INTENTIONAL ACTS OF HRV, ITSOFFICERS, EMPLOYEES, AGENTS, VOLUNTEERS, SUBCONTRACTORS,LICENSEES, AND INVITEES. ARTICLE VNOTICE Any notice or other written instrument required or permitted to be delivered under the terms of this Agreement shall be deemed to have been delivered, whether actually received or not, when deposited in the United States mail, postage prepaid, registered or certified, return receipt requested, or via electronic mail, hand-delivery or facsimile, addressed or sent to HRV or the City, as the case may be, at the following addresses: CITY City of Denton, Texas Attn: City Manager 215 E. McKinney St. Denton, TX 76201 Sara.Hensley@cityofdenton.com Hickory & Rail Ventures, LLC Hickory & Rail Ventures, LLC AHn: Heather Gregory 608 E. Hickory Denton, TX 76205 Heather@stokedenton.com City of Denton, Texas Ann: Director of Economic Development401 N. Elm St. Denton, TX 76201 5 ARTICLE VIRIGHT TO AUDIT HRV agrees to retain all books, records, documents, reports, and written accounting policies and procedures pertaining to services provided under this Agreement for a period of five (5) years. The City shall have the right to audit and make copies of the books, fundraising activities, pledges, donations, gifts, statements, financial records, and computations pertaining to the Agreement. ARTICLE VIIADMINISTRATION OF AGREEMENT HRV shall designate an officer responsible for the administration of the Agreement forHRV. The City Manager, or designee, shall be the City staff member responsible for the administration of this Agreement on behalf of the City. ARTICLE VIIINO ASSIGNMENT The Agreement is solely between the parties and cannot be assigned to another party without the express advance written approval of the non-assigning party. ARTICLE IXMODIFICATION OF AGREEMENT No modification of this Agreement shall be effective unless it is in writing and signed by both parties to the Agreement. ARTICLE XGOVERNING LAW AND VENUE This Agreement is subject to, governed by, and shall be construed under the laws of the State of Texas. Venue of any suit or cause of action arising under this Agreement shall be exclusively in Denton County, Texas. ARTICLE XISEVERABILITY If any provision of this Agreement is found or deemed by a court of competent jurisdictionto be invalid or unenforceable, it shall be considered severable from the remainder of this Agreement, and shall not cause the remainder of this Agreement to be invalid or unenforceable. In 6 such event, the parties shall reform this Agreement to replace such stricken provision with a valid and enforceable provision which comes as close as possible to expressing the intention of the parties hereto respecting the stricken provision. ARTICLE XIICAPTIONS The captions of this Agreement are for informational purposes only and shall not in any way affect the substantive terms or conditions of this Agreement. ARTICLE XIIICOUNTERPARTS This Agreement may be executed in multiple counterparts, by one or more signatories, separately and each of such counterparts shall be deemed an original for all purposes, and all such signed counterparts shall constitute but one and the same instrument. For purposes of the parties’ execution of this Agreement, it is expressly agreed that a facsimile or telecopy of a party’s signature hereto shall be valid, binding and enforceable as the original. IN WITNESS THEREOF, the City and HRV have executed this Agreement in original counterparts, the City acting by and through its duly-authorized City Manager, and HRV acting by and through its duly-authorized undersigned officer. CITY OF DENTON HICKORY & RAIL VENTURES, LLC b, S 'l T!)vI C+'v, / I ATTEST: ROSA RIOS, CITY SECRETARY , (Ja) APPROVED AS TO LEGAL FORM: MACK REINWAND, CITY ATTORNEY .„ $aBT 7 THIS AGREEMENT HAS BEENBOTH REVIEWED AND APPROVED As to financial and operational obligations and business terms Signature CiV a“l.r [Cb,SNH -DeerW-.rDeDartment EXHIBIT ASCOPE OF WORK TABLE I-A Program Area City Amount Work to be Performed by HRV Event Support $44,845 Funds will be used by HRV to produce annual events such as: • FlintConf • Big Ideas • Startup Crawl • Global Entrepreneurship Week The event support would also include development and production of new events including: • Pitch competition • Reverse pitch competition • State of entrepreneurship/entrepreneur recogrutron Program Support §47,505 Funds will be used for: • Monthly education events (Lunch + Learns) • Weekly mentor sessions (Coffee + Conversations) Funds would also support the development of new programs that are targeted at serving current or aspiring technologists and women and minority entrepreneurs. Marketing Support $16,100 Funds will be used for creation of content, such as blog posts, press releases, podcasts, ebooks, and videos to raise awareness of the entrepreneurship community and the positive impact it has on the Denton economy and culture. 9 Ecosystem Support $34,720 Funds will be used to support efforts tocoordinate and convene stakeholders and thought leaders represented in the Denton Innovation Group, TechMill, and Denton Angels and continue to develop and distribute and entrepreneurial ecosystem map Total $143,170 HRV will support City staff in the implementation and reporting of progress of the followingstrategies and actions identified in the City of Denton Economic Development Strategic Plan (“Strategic Plan”) by performing the following Work Plan Items: Strategic Plan Goal 2B. Foster Growth 2B.1. Champion and Convene 2B.1.2. Establish connections with DFW entrepreneurship organizations such as Dallas 1 Million Cups, 1 Million Cups Frisco, Dallas Innovates, Capital Factory, and the Dallas EntrepreneurCenter 2B.1.3. Assemble a knowledge resource network to support entrepreneurs and companies with access to financial, legal, policy, and research information needed for their businesses to grow. 2B.1.4. Partner with local and regional partners to design reverse-pitch competitions to engage major corporations and organizations in the DFW Metroplex with needs for innovation. 2B.1.5. Ensure that targeted resources are available for businesses owned by women and people of color, who have historically faced barriers to accessing traditional economic development tools. 2B.1. Work Plan Items • Attend events hosted by regional startup organizations and stakeholders. • Host and sponsor events that support students and connect them to entrepreneurs, mentors, and peers. Seek out opportunities for partnerships, sponsorships, or collaborations with regional entrepreneurial organizations and stakeholders. Continue to develop entrepreneurial ecosystem “map” which details companies, mentors, support organizations, resources, etc. and make the document available to the public. Write and publish ebook to provide entrepreneurs with tangible tools, templates, and resources for launching their business. • e • 10 • • • • Expand network of mentors and advisors, specifically increasing participation from women and minority entrepreneurs and thought leaders. Initiate the planning of a reverse pitch competition with local and regional partners. Launch accelerator program that focuses on women entrepreneurs in partnership with Texas Woman’s University. Pursue programming and partnerships that help connect minority entrepreneurs with peers, mentors, and resources. 2B.2. Access to Capital 2B.2.3. Network with regional entrepreneurship programs so that they become familiar with Denton and the resources available for businesses looking to grow and expand within the DFW Metroplex. 2B.2.4. Revise the funding requirements for the EDP Investment Fund to be more inclusive of innovative startups that might not meet current thresholds for employment and capital investment. 2B.2. Work Plan Items • Participate in Angel Capital Association and Texas Angel Network calls and syndicate deal flow when possible. Attend regional events focused on entrepreneurship, specifically with veteran fundraisers, angel investors, or VC firms. Co-host a networking mixer with Denton Angels, Chamber investors, and the Economic Development Partnership Board. Engage Denton Angels in Stoke programming and events, specifically pitch events, to increase connections between investors and entrepreneurs. • • • 2B.3. Ecosystem Building 2B.3.1. Partner with the Denton Innovation Group to define a vision for entrepreneurship in Denton, establish goals, measure progress, and connect with DFW organizations. 2B.3.2. Launch an accelerator to support the growth of existing companies. 2B.3.3. Host a Citywide pitch competition to identify and develop innovative entrepreneurs in Denton. This not only builds Denton’s creative brand but also provides the City with a way of identifying top talent in the community. 2B.3. Work Plan Items • Coordinate and host Denton Innovation Group meetings on at least a quarterly basis. • Engage groups of thought leaders to increase connections and opportunities between institutions and anchors (TWU, UNT, NCTC, DISD, Denton Innovation Group, TechMill, Denton Angels, etc.) • Initiate the planning and production of a city-wide pitch competition. 11 • Launch AccelerateHER, a startup incubator program for early stage startups led by women entrepreneurs. • Host technical meetups and events at Stoke. • Sponsor and support technical meetups and events in Denton and the region. 2.B.6. Promoting Denton’s Creative Brand 2B.6.2. Pitch stories about successful Denton companies to media outlets, such as the Denton Record-Chronicle, Dallas Morning News, Fort Worth Star-Telegram, Dallas Innovates, and D Magazine. 2B.6.3. Develop a Citywide entrepreneurial recognition program that harnesses the strengths of local efforts that already exist in Denton. 2.B.6. Work Plan Items • Continue to publish two to four blog posts each month, including a regular spotlight of amentor or members. • Write and distribute press releases around entrepreneurial activity and Denton startups. • Initiate planning of a program that recognizes entrepreneurs, staHups, organizations, and educators that are having an impact on the entrepreneurial ecosystem. Strategic Plan Goal 3. Strengthen Community Inclusion 3.3. Grow Your Own Talent Initiative 3.3.1. Support youth entrepreneurship programs at the local level to foster a culture of innovation and cultivate an entrepreneurial spirit. 3.3.2. Encourage Denton ISD to incorporate entrepreneurship into academic curricula and increase exposure and access to Denton’s startups. 3.3 Work Plan Items • Pursue partnership with Denton ISD to support entrepreneurial education and access to Denton’s startups. Seek out opportunities to include Denton ISD students in mentorships programs and otherevents. Offer tours to Denton ISD classes/clubs to share out Stoke Denton, its mission, and the entrepreneurial experience. Work with community members and partner organizations to pursue technical entrepreneurial programming for youth. Conduct community-wide surveys to learn ways that Stoke could provide better support and resources for traditionally underserved and under-funded entrepreneurs to help narrow the inequity gap. • • • e 12 st6keCO WORKING hickory & rail venturesDENTON “Stoke is the heartbeat of Denton’s startup scene, providing a hub for entrepreneurs near downtown amenities. Embracing and strengthening these anchor institutions will not only attract growth but also ensure that the creative elements at the heart of Denton’s culture will continue to thrive.” - TIP Strategies from Economic Development Strategic Plan Stoke would be an awesome place just to come and work but the team goes so far above and beyond just providing offices and desks. They are truly committed to developing members' skills and education through educational programming, improving their mental health through group culture and thoughtful space design, and helping their businesses grow through networking and mentoring opportunities. - Member survey response - January 2022 Proposal Hickory & Rail Ventures LLC would like to continue our partnership with the City of Denton to provide support to the entrepreneurs, startups, and freelancers in our community. The partnership provides a solid platform for the city to support entrepreneurs, remote workers, small businesses, and startup companies while helping to build businesses, create jobs, and strengthen the culture and economy of the City of Denton. Our track record over the last four years demonstrates our ability to successfully build the entrepreneurial ecosystem of Denton through our programs, events, partnerships, and marketing efforts. We believe that through our partnership H&RV can help the City of Denton meet the goals by executing the strategies and actions laid out in the Economic Development Strategic Plan prepared by TIP strategies and adopted by Denton City Council in 2021. Our proposal is for the City to renew our public/private partnership with H&RV in which the City commits to continue its support for Stoke for a term of 2 years (July 1, 2022 - June 31, 2024). We are requesting $143,170.00 per year to support our programming and help the City of Denton meet its Economic Development goals. Each year of the agreement, Stoke will generate a minimum of $300,000 from membership dues and spacerentals H&RV would continue to report to the city on the same deliverables and metrics that we have been since December 2017 however, we would like to amend the frequency of reporting to take place on a quarterly, rather than a monthly basis. H&RV management would provide an annual report and be available to present to city council on an annual basis. Programming Support DESCRIPTION AMOUNT NOTES Funds would help H&RV produce our existing annual events such as• FlintConf • Big Ideas • Startup Crawl • Global Entrepreneurship Week Continue the development/implementation of new programs such as • Pitch competition - amount includes $10,000 to be distributed directly to pitch contest winners • Reverse pitch competition • State of entrepreneurship/entrepreneur recognition Funds would help H&RV maintain current programming efforts such as our monthly educational events (Lunch + Learns), weekly mentor sessions (Coffee + Conversations). Events $ 44,845.00 Additionally, the funds would support programs and events that are targeted at serving current or aspiring technologists as well as women, and minority entrepreneurs . Funds would help H&RV create valuable content such as blog posts, press releases, podcasts, ebooks, downloadable resources, and videos to help raise awareness around the entrepreneurship community and the positive impact it has on our economy and culture. Funds would help support our efforts to coordinate and convene stakeholders and thought leaders as represented in the Denton Innovation Group, EdTech Alliance, Denton Angels, and to support our participation in other partner events and initiatives. Additionally, the funds aid in our continued efforts to ldevelop and distribute an entrepreneurial ecosystem map. Programs $47,505.00 Marketing $16, 100.00 Ecosystem Total I $34,720.ooI $143,170.oo Economic Development Strategic Plan Goals Through the public/private partnership with the City of Denton, H&RV can provide support and alleviate the time and energy required by city staff in pursuit of the goals laid out in the new Economic Development Comprehensive Strategic Plan. We believe our programs, established partnerships, and community-building efforts put us in a position to be highly impactful in meeting these goals, specifically around the Strategic Growth Area of Creative Denton. See attachment for goals and related work items completed. What success looks like If we are able to accomplish the items listed above, we would be able to see success through A more diverse group of members and mentors at Stoke and more job and businesscreation in tech and creative industries Increased regional awareness around the startup and entrepreneurial ecosystem inDenton Increased support, resources, and connectivity for female and minority entrepreneurs. Video, audio, and written content that can be used to market Denton’s creative and tech entrepreneurs that help tell the story of Denton. Growing engagement and followers on all social platforms and newsletters, further establishing Stoke as an expert resource for entrepreneurs. More connectedness between anchor institutions throughout the entrepreneurial and innovation ecosystem in Denton. Increased awareness locally about the individuals and businesses that are making Denton a creative and unique community A growing and more connected network of entrepreneurs, investors, mentors, andstudents • • • • • • • • What we have done Hickory & Rail Ventures LLC has been managing Stoke Coworking for the last 4+ years. Over that time we have helped educate, inspire, and empower entrepreneurs in Denton while providing a professional, collaborative, and engaging place for startups, freelancers, and remoteworkers to work. Membership From December 1, 2017 through December 31, 2021 we have had a cumulative total of 239 member companies on our roster. The work that our member companies perform includes software development, education technology, Internet of Things platforms, web and app development, digital marketing, content creation, podcast editing and production, cybersecurity, cryptocurrency, online payment processing, and IT support. The average of tech/tech-enabled companies over time has been 54%. Throughout our time managing the space, 146 people with tech/tech-enabled jobs have had a membership. In the most recent member survey (conducted in January 2022) 84% of respondents said that their company had experienced growth throughout their time as a member at Stoke. 66 of those 239 total member companies are represented by remote workers (people who are employed by a company based somewhere outside of Denton) doing work that ranges from project management to sales, development, and design. Because of the nature of their work, remote workers and freelancers can choose to live and work anywhere and ultimately choose Denton. Remote workers and freelancers combined comprise 31 % of Stoke's member population. Stoke makes Denton a viable and great option for these individuals, providing them with a place to work, meet, and engage with a community of peers. The fact that remoteworkers and freelancers have chosen to call Denton home translates to tax dollars that exist in our city that likely wouldn’t be here otherwise. Stoke is good for businesses, good for remote workers, and good for Denton. Partnerships Stoke has adopted the tagline “cultivating community & empowering entrepreneurs,” and we work to collaborate with partners to amplify the impact of our efforts. We have partnered with community stakeholders and organizations including TWU Center for Women Entrepreneurs, UNT (Murphy Center, Hack UNT, ASIS&T), NCTC, Denton Independent School District, Denton Chamber of Commerce, TechMill, Denton Main Street Association, Denton Black Film Festival, Discover Denton, Stronger Denton, and Greater Denton Arts Council. Through these partnerships, we have hosted and supported hackathons, networking mixers, panel discussions, tech-focused career fairs, business workshops, code schools, and a range of tech meetups. We are constantly working to develop new ways to work with these existing partners as well as pursue new partnerships. Programs and Events Stoke has launched programs and events with content focused on the needs of small businesses and startups including fundraising, business planning, content marketing, product development, taxes, website development, sales, and more. In total, we have hosted over 300 events with 3,200 event attendees. In 2021 alone we hosted 84 events with 684 attendees. Last year we hosted a startup crawl during Global Entrepreneurship Week. The crawl highlighted 12 creative businesses and dozens more artists and performers and the event drew over 100 attendees. In 2019, we held our first annual FlintConf, Denton’s startup conference for hipsters, hackers, and hustlers, and transitioned it to a virtual conference in 2020 and 2021 - it is coming back in-person in 2022 and will be hosted at Sunago Bell. Stoke has also provided invaluable support through the community of experts we have built over the years. Marketing + Content Development Through our content creation and marketing efforts, we have provided a platform for both our members and the startup community of Denton to share their experiences through highlights on our blog, member spotlights. Over time we have built a following on social media platforms to over 3,600 with a monthly average reach of over 30,000. We began with zero subscribers to our newsletter and have grown our general newsletter list to over 880 individuals with an average monthly open rate of 23.62% and click-through rate of 2.38% (according to a Mailchimp study, the average across all industries is 21.4% & 2.62% respectively). Since launching our blog in April of 2018, we have published 98 posts highlighting our services, events, and members, as well as providing helpful tips and information for entrepreneurs, freelancers, and remote workers. In 2021 we published a playbook to accompany FlintConf and will be expanding on that resource again this year.