HomeMy WebLinkAbout2018-R-7 NOT SIGNED BY IVY TECH BEFORE THE JEFFERSONVILLE REDEVELOPMENT COMMISSION
STATE OF INDIANA
RESOLUTION NO. 2018-R- 7
A RESOLUTION APPROVING AND RATIFYING PARTNERSHIP AGREEMENT
BETWEEN THE COMMISSION AND IVY TECH COMMUNITY COLLEGE
AND ADOPTING FINDINGS PURSUANT TO I.C.36-7-25-7
WHEREAS, the Jeffersonville Redevelopment Commission (hereinafter "the
Commission") by and through its Department of Redevelopment, and Ivy Tech College of
Sellersburg, Indiana("Ivy Tech"), hereby enter into the attached Agreement(see attached Exhibit
A"); and
WHEREAS, T.C. 36-7-25-7 authorizes the Commission to enter into a contract with an
eligible entity to provide certain programs; and
WHEREAS, I.C. 36-7-25-7(a) defines an eligible entity one whose principal functions
include the provision of educational programs, work training programs; worker retraining
programs or any other programs designed to prepare individuals to participate in the competitive
and global economy; and
WHEREAS, Ivy Tech was founded in 1963 as Indiana Vocational Technical College
focused primarily on technical and vocational education; and
WHEREAS, Ivy Tech now serves as Indiana's community college, offering more than
150 programs; and
WHEREAS, Ivy Tech offers hands-on experience with the some of the state's most
advanced technologies and training facilities,plus online classes; and
• WHEREAS, Ivy Tech is the largest public postsecondary institution in Indiana and the
largest singly-accredited statewide community college system in the country; and
WHEREAS, Ivy Tech is accredited by the Higher Learning Commission and a member of
the North Central Association; and
WHEREAS, over 97% of Ivy Tech graduates remain in Indiana; and
WHEREAS, the Commission and Ivy Tech have negotiated the attached Agreement for
purposes of establishing a scholarship program for graduates of Jeffersonville High School to
attend Ivy Tech at no cost; and
WHEREAS,the City of Jeffersonville is experiencing unprecedented growth and develop;
and
WHEREAS,such growth and development demands qualified and trained workforce;and
WHEREAS, the education and training of high school graduates is imperative if
Jeffersonville is going to remain competitive in today's global economy; and
WHEREAS, I.C. 36-7-25-7(e) allows for the Commission to spend not more than 15%of
the allocated tax proceeds its receives on an annual basis for fund a program that provides
education, work training, worker retraining or any other designed to prepare individuals to
participate in the competitive and global economy; and
NOW, THEREFORE, BE IT RESOLVED by the Jeffersonville Redevelopment
Commission that it hereby adopts the following findings:
1. Ivy Tech qualifies as an eligible entity for purposes of I.C. 36-7-25-7(a); and
2. The scholarship program, "Jeffersonville's Promise", as described in the attached
Agreement is designed to provide educational and work training for individuals to participate in
the competitive and global economy for purposes of I.C. 36-7-25-7(b); and
3. That the scholarship program, "Jeffersonville's Promise," as described in the attached
Agreement is one that will promote the redevelopment and economic development of the City of
Jeffersonville, is of utility and benefit and is in the best interests of the City of Jeffersonville's
residents; and
4. That up to 15% of Tax Increment Funds collected by the Commission from the
appropriate allocation areas shall be appropriated to fund the attached Agreement; and
5. That the use of the Tax Increment Funds to fund the attached Agreement serves and
benefits the allocation areas form which the funds are expended; and
IT IS FURTHER RESOLVED by the Jeffersonville Redevelopment Commission that
the attached Agreement(Exhibit"A") is hereby approved and ratified.
SO RESOLVED this cab_ day of J 04 1‘41942( , 2018.
R. Monty Sn ing, Prtf
s ent
Jeffersonvi e Redevelop --Commission
ATTEST:
Aril JNIP
S ecre:ry
EXHIBIT "A"
CITY OF JEFFERSONVILLE/IVY TECH COMMUNITY COLLEGE
PARTNERSHIP AGREEMENT
MEMORANDUM OF UNDERSTANDING
CITY OF JEFFERSONVILLE/IVY TECH COMMUNITY COLLEGE
PARTNERSHIP AGREEMENT
MEMORANDUM OF UNDERSTANDING
This Agreement is made and entered into this 28 day of November, 2018, by and between
Ivy Tech Community College of Indiana, Sellersburg (hereinafter referred to as "IVY TECH"),
and the City of Jeffersonville, Indiana, by and through the Jeffersonville Redevelopment
Commission (hereinafter referred to as "JEFF").
NOW THEREFORE, the parties listed above in this Memorandum of Understanding
agree to the following terms and conditions:
1. Scope of Agreement
In an effort to reduce barriers for higher education for Jeffersonville High School students, the
City of JEFF will partner with IVY TECH to create the Jeffersonville Promise Scholarship.
This scholarship will ensure that students who graduate from Jeffersonville High School
meeting certain scholastic requirements will receive a full, tuition scholarship, inclusive of
technology fee.
This scholarship will be available to the following students who meet all the below criteria:
a) Jeffersonville High School Graduate from the Class of 2019 and those classes thereafter.
b) Students who have earned a minimum of a 2.0 high school GPA and maintain a 2.5
GPA and follow the Ivy Tech Satisfactory Academic Progress (SAP) Policy while
enrolled at Ivy Tech.
a. An appeals process will be made available to students who lose scholarship
eligibility.
c) Students must complete the current year FAFSA and required verification,if applicable.
Continuing students must complete a FAFSA each school year of enrollment.
d) Enrolled in a credit-bearing and workforce-focused courses towards attainment of a
certificate, certification or degree at IVY TECH
e) Students must remain enrolled in at least one, credit-bearing course between semesters.
a. This clause excludes Summer semesters, but does include persistence from Fall
to Spring and Spring to Fall.
b. Students who fail to re-enroll in the following semester will lose eligibility of
the scholarship in future semesters.
f) Students must enroll at IVY TECH during the Summer, Fall or Spring term after their
commencement from high school starting in Fall 2019.
a. Students who do not enroll within the following academic year will not be
eligible for the scholarship.
2. Term
The term of the agreement shall commence on July 1, 2019. The terms of the agreement shall
automatically renew from year to year. Either party may terminate or amend the agreement by
providing ninety(90) days written notice and approval from the other party.
3. Tuition Agreement
The purpose of the scholarship is to provide last dollar funding to cover any costs of in-state
tuition and assessed fees.
a) The current tuition cost is$140.61 per credit hour as approved on an annual basis by
the Ivy Tech Community College State Board of Trustees; the associated$75.00
technology fee assessed per student per semester(excluding book charges) shall be
paid by Jeffersonville Promise Scholarship for participating students
b) This scholarship is intended to be a last dollar scholarship which means that the
student shall accept all federal aid, state aid(in accordance with CHE guidelines),
local aid, and scholarships before utilizing the Promise Scholarship funds.This
scholarship is non-refundable to the student.
c) This scholarship will no long longer be available to participants when the student
obtains his/her first Associates Degree.
4. Duties and Responsibilities of the Parties
a. IVY TECH will provide degrees and credentials in high-demand,high-value jobs
while offering students the opportunity to transfer to a four-year partner to benefit the
Southern Indiana Community.
b. IVY TECH will work with counselors and Jeffersonville High School officials to
recruit students to attend IVY TECH and apply for the scholarship.
c. JEFF and IVY TECH will host a joint press event to announce the creation of the
Jeffersonville Promise initiative.
d. JEFF will contribute$150,000 for five(5) years to the Jeffersonville Promise
Scholarship which will be housed in an endowed account in the Ivy Tech Foundation
and will be dispersed to students in accordance with this document.
i JEFF agrees to make payments on January 1 of the following years: 2019,
2020, 2021, 2022 and 2023.
e. IVY TECH and JEFF have identified the following single point of contact person for
this MOU and/or their appointed designee:
IVY TECH Community College: City of JEFF:
Title: Chancellor Title: City Attorney
Name: Travis Haire,PhD Name: Les Merkley
Email: thaire4@ivytech.edu Email: lmerldey@cityofjeff.net
5. Compliance with Laws
Both parties agree to comply with all current and future applicable federal, state, and local laws,
rules, regulations,policies, or ordinances, including laws or regulations regarding student
records and confidentiality.
In Witness Whereof, the parties have,through their duly authorized representatives, entered into
this agreement. The parties,having read and understood the foregoing terms of this agreement,
do by their respective signatures dated below hereby agree to the terms thereof
Ivy Tech Community College of Indiana City f Jeffersonville
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SUE ELLSPERMANN, Ph.D R. MON --='.11 G
President Preside
Ivy Tech Community College of Indiana Jeffersonville II es opmenfommission
Aiii.Amiaj brt,
TRAVIS HAIRE, Ph.D �
MIKE MOO'
Chancellor- Sellersburg Mayor
Ivy Tech Community College of Indiana City of Jeffersonville
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Date Date
GIFT AGREEMENT
Jeffersonville Promise
Endowed Account
Section 1. Parties. This agreement is entered into this 28 day of November, 2018,
between City of Jeffersonville, by and through its Redevelopment Commission(referred to as
"Donor"in this agreement), and Ivy Tech Foundation, Inc. (referred to as "Foundation"in this
agreement).
Section 2. Donor's Contribution. The Donor agrees to contribute to Foundation the
sum of$ 750,000 in equal payments of$150,000 per year for 5 years. Pledge payments will be
paid by January 1 each year. Foundation will invoice the donor 30 days in advance of pledge
payment due dates.
The donor's contribution is subject to the terms and conditions set forth in the attached
Memorandum of Understanding.
Section 3. Foundation's Acceptance. The Foundation agrees to accept Donor's
contribution and to create an endowed account with the assets received. The Foundation will
invest, administer, and distribute the income and earnings attributable to the account in a manner
consistent with the policies and procedures of the Foundation and the terms and conditions set
forth in this agreement. However, the Foundation may not make a distribution to any individual
or entity if such a distribution will, in the judgment of the Foundation, endanger the Foundation's
status under Sections 170 (b)(1)(A)(iv) and 509(a)(1)of the Internal Revenue Code of 1986, as
amended(referred to as"the Code"in this agreement).
Section 4. Investment of Certain Contributed Property. If the Donor contributes cash
to the Foundation,the Foundation shall promptly invest the amount donated in a manner
consistent with its investment policy for funds in endowment accounts. If the Donor contributes
readily marketable securities to the Foundation, the Foundation shall promptly sell the donated
property and invest the net proceeds from the sale in a manner consistent with its investment
policy for funds in endowment accounts.
Section 5. Endowment Provisions. The Foundation shall administer all endowed
accounts in accordance with IRS policies and the provisions of the Uniform Management of
Institutional Funds Act(IC 30-2-12). The corpus shall be invested to both realize growth in
value and meet payout goals established by the Foundation. Annual disbursements from the
endowment will be made in manner consistent with the Foundation's current payout policy for
endowment accounts. Reports on the historical performance of the account shall be made
available to the Donor upon request.
Section 6. Scholarship Provisions. As this account is established to provide scholarship
assistance, the Foundation shall ensure that the selection process is consistent with IRS
regulations, so that the account is not considered a Donor Advised Fund under Section 4966 of
the Code. Any preference for members of a certain race, gender, or group may only be
considered as consistent with federal guidelines for publicly supported institutions. Intentions of
the donor for the use of the scholarship are included in the Memorandum of Understanding.
Section 7. Ongoing Use of Funds Provisions. In the event that one or more of the
original purposes for use of funds, stated herein, can no longer be fulfilled, the Donor hereby
expressly authorizes and empowers the Chancellor of the Region utilizing the funds to use for
the remaining purposes or to substitute purposes for those that cannot be carried out consistent
with the original purpose. In the unlikely event that all of the original purposes stated herein can
no longer be fulfilled, the Foundation shall modify this Gift Agreement to the extent necessary to
enable the gift to be used in a manner which coincides with the Donor's original intent as closely
as possible.
Ivy Tech Foundation, Inc City of Jeffersonville —�
JOHN MURPHY 'R. MONTY S
President President
Ivy Tech Foundation Jefferson • le 'Fr velopme I Commission
MIKE MO S RE
Mayor
City of Jeffersonville