Mayor and Board of Aldermen Workshop July 26, 2006 2:00 PM Boardroom, City Hall
· Call to order · Pledge of Allegiance · Approval of the July 12, 2006 Workshop Minutes
	Agenda topics
	1. Presentation of the Frederick Innovative Technology Center Inc. (FITCI) It is the policy of the Mayor and Board of Aldermen to permit public comment limited to five (5) minutes per person and ten (10) minutes per group. A sign up sheet is available prior to the meeting. This meeting will be broadcast live on cable television government channel 99.	Mr. Mike Dailey

	Mayor and Board of Aldermen Workshop July 26, 2006 2:00 PM Boardroom, City Hall
Mayor Jeff Holtzinger called the Workshop meeting to order at 2:00 PM. Mayor Holtzinger led the Pledge of Allegiance. Attendees: Mayor Holtzinger, Aldermen David “Kip” Koontz, Alan Imhoff, Donna Kuzemchak Ramsburg. Absent: Aldermen Marcia Hall, C. Paul Smith, Acting Chief Legal Services Officer Saundra Nickols, Chief of Police Kim Dine The July 12, 2006 Workshop Minutes were approved with a motion by Alderwoman Ramsburg, second by Alderman Koontz. Vote 3-0. Alderman C. Paul Smith entered the meeting at 2:20 PM.
	Agenda topics

	1. Presentation of the Frederick Innovative Technology Center Inc. (FITCI)	Mr. Mike Dailey
Discussion: Richard Griffin, Director of Economic Development for the City of Frederick, introduced Mr. Mike Daley, Director of FITCI (Frederick Innovative Technology Center, Inc. Also present and recognized at the meeting were Dr. Carol Eaton, President of FCC, Marie Keegin, Director of Economic Development for Frederick County, Dr. George Lewis, FITCI, Heather Pinckney, Patrick Healey, President of FITCI, and Erin Sprague, intern for the Department of Economic Development for the City of Frederick. Mayor Holtzinger provided comments on the importance of the business incubator in the City of Frederick. Mr. Daley provided an update on the mission, goals and recent activities of FITCI through a Power Point presentation. Highlights are as follows: · FITCI presently has 20 clients (8 In-house Tenants, 10 virtual tenants) · 22 of 33 full time tenant employees are on the premises. · 50% possess a PhD, 75% possess a Masters Degree, 90% possess a Bachelors Degree · Services offered are Coaching and Mentoring, Funding Acquisition and Entrepreneur Education · Office space ( fully furnished) · Lab space (fully equipped subsidize Bio-tech wet labs) · FITCI currently has a waiting list of 6 companies · Future plans include 12,000 sq.ft expansion facility by October 2006 and 50,000 sq. ft. facility by years 2010-2011. Mr. Daley explained that although the expansion of the business incubator will be in Frederick County, the headquarters will remain in the City of Frederick.
Marie Keegin stated that 80% of the businesses in the business incubator succeed while 80% of the businesses not associated with the incubator fail. Ms. Keegin also added that most business from the business incubator locate within 5 miles of the incubator. Public Comment None
Conclusion: Future updates will be provided regarding FITCI.
The meeting was adjourned at 2:30 PM. Respectfully submitted, Susan S. Harding