The Hollywood Park EDC voted to direct its attorney to prepare a draft policy governing contracts, services and business assistance. The vote was put and carried during the meeting.

Board members framed the item as a response to prior ambiguity over administrative support, vendor invoices and past one-off payments. Members discussed three contract categories the policy should cover: (1) administrative support or memoranda of understanding with the city for shared services, (2) vendor and service contracts the EDC commissions, and (3) contracts or performance agreements for business assistance, grants or incentive payments.

Staff and the board noted that a lump-sum reimburse­ment from the city for administrative support (rather than enumerating every copier page or office supply) is a common approach; staff said the city and council would need to sign or accept any formal memorandum of understanding. Board members asked that the draft policy include minimum documentation for vendor contracts and measurable performance criteria for business assistance programs (for example, job creation or retention metrics required when public funds are used).

The board passed a motion directing counsel to draft a comprehensive contracts policy. Staff said the draft will include the minimum state-law requirements that apply to public expenditures and will return as a preliminary policy for further edits and a future vote.

Ending: The attorney will prepare and circulate a draft contracts policy addressing administrative support MOUs, vendor documentation and measurable standards for business-assistance agreements; the draft will reflect mandatory state-law minimums where applicable.