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Regular Meeting December 4, 2007 Page 6 the Economic Development Board to review. She also stated in the past the financial records have not been required and there are many companies that are turned down. Ms. Jamison stated the City currently has a revolving loan fund, which is a way to regenerate funds. Ms. Moore also stated a Strategic Plan was developed in the spring of 2006, which was previously provided to the Council. Mr. Thomaides stated he appreciated the document, but feels Council should have a Workshop to address some of the concerns. Mayor Narvaiz stated she feels the Council can hold a focus discussion regarding the Economic Development during the Budget Workshop. She stated this policy is a big step. She also stated the Council can implement and take up in a focused meeting. Mr. Jones stated he would like to spend more time on this issue and engage the public more with Economic Development issues. Mayor Narvaiz stated she recommended setting aside dollars, which would require more attention during the next budget cycle. Ms. Moore stated in a lot of other communities, Economic Development is charged with initial negotiation, which gives a structure to providing incentives. She stated previously it was hard to go to Council and say this is what I would recommend per the policy, because there was not a policy. She stated the policy gives the Board a scale with room to work and Council has the final say. The Council agreed by consensus to bring back this issue during the Budget Workshop and out line the types of Economic Development the Council wants to pursue. The Council then voted unanimously for adoption of Resolution. Mayor Narvaiz introduced for consideration Item 19, removed from the consent agenda, adoption of Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS APPROVING THE ASSIGNMENT OF A LEASE OF AIRPORT PROPERTY BY MIKE WAKELAND TO CONEJO INVESTMENTS, INC.; AUTHORIZING THE INTERIM CITY MANAGER TO EXECUTE THE ASSIGNMENT; AND DECLARING AN EFFECTIVE DATE. Ms. Couch moved for adoption of Resolution, Mr. Jones seconded the motion. Mr. Mendoza, Director of Public Works, stated this is the 2nd reassignment for this hanger. He stated this Resolution would authorize the assignment of a 3,000 square foot airport hangar lease from Mike Wakeland to Conejo Investments, Inc. This is a 20 year lease and it has been in effect for 11 years. No modifications of the lease have been requested. He stated Mr. Quinlin is requesting to take over the lease and paying $10 for the transfer, which is not uncommon to continue having lease payments to the City. Mr. Jones inquired to the last time the market of these types of leases was reviewed. Mr. Mendoza stated the last time this type of leases were review was in 2001. He stated, compared to other Municipal Airports the City of San Marcos is in the middle of the road. Mr. Jones stated he feels this is the time when more people are purchasing planes and want to