UPDATE: The Covington City Commission voted to accept the contract with Camoin at the legislative meeting on Oct. 22, 2024.–LINK nky editorial, Oct. 24, 2024.
The City of Covington is considering a $126,000 contract with New York-based Camoin Associates to furnish a new economic development strategy for the city.
The municipal order to approve the contract came before the Covington City Commission on Tuesday, and the commission placed it on the consent agenda for next week’s meeting, meaning it will likely pass.
The city’s initial estimated budget for the contract, which was bid out to consultants, was $100,000. About eight companies responded with bids, said Economic Development Director Tom West. All but one of the bidders came in above budget. Camoin’s bid was the second lowest bid.
“We had a committee that completed the review and scoring of those,” West said. “We interviewed the top four, and the group selected Camoin out of those as being the superior team to work with us on the myriad issues that we deal with–everything from work from home to south of 12th Street and South Covington.”
South of 12th Street and South Covington refer to areas of the city that have seen less economic development compared to other parts of the city.
If approved, the money for the project will be evenly drawn from between two city sources: TIF funds and the city’s economic development fund. The city’s general fund, which is still experiencing a deficit, will not be used as part of the project.
The city lasted updated its economic development strategy in 2019 before the pandemic. As part of the project, Camoin will conduct research on the city’s market, demographic and labor conditions to furnish a helpful report for the city. The project will include focus groups with residents, businesses and nonprofits.
Read the full contract as well as a summary of the project’s scope below.
The commission will cast a vote on the contract order and the other items on the city’s consent agenda on Tuesday, Oct. 22. The meeting begins at 6 p.m. at Covington City Hall on Pike Street.