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ACHRA Contract # C0006218A VOLUNTARY COST SHARING AGREEMENT FOR ANOKA COUNTY ECONOMIC DEVELOPMENT THIS AGREEMENT is made between the County of Anoka, by and through its Housing and Redevelopment Authority, a public body corporate and politic, of the State of Minnesota ("County"), and the undersigned participating municipality ("City"), a municipal corporation organized under the laws of the State of Minnesota. WITNESSETH WHEREAS, the County and the City, along with other community partners, entered into a Memorandum of Agreement ("MOU") on [date], to set goals, create an action plan, and implement shared objectives in promoting economic development within Anoka County; WHEREAS, the MOU addresses the need for cost sharing between the County and municipalities of Anoka County to support continued services for website services, social media support, marketing assistance, and future services related to the county -wide economic development initiative; WHEREAS, an annual budget for the above activities was developed, including a formula for participating municipalities to provide proportional cost sharing based upon its population; NOW, THEREFORE, the parties understand and mutually agree as follows: 1. The budget for services related to website services, social media, marketing, and other supportive activities required for economic development, is currently set at $20,000.00 for calendar year 2019. 2. For 2019, the City agrees to contribute the sum of $0.057 per individual resident within its city limits, as a voluntary contribution to the economic development costs described above. 3. The City shall provide such payment annually, by the end of the first quarter in each calendar year, beginning in 2019. 4. Each calendar year, the County will provide an annual budget and proposed formula for the City's use in calculating its contributions under this Agreement. 5. The City may opt out or cancel this Agreement by providing 30 days' written notice to the County Administrator: Jerry Soma, 2100 Third Avenue, Ste. 700, Anoka, MN 55303. 6. This agreement shall terminate concurrently with the MOU, unless a City chooses to opt out or cancel this agreement prior to its expiration, as provided above.