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Policy Regarding Use of the City of San Marcos <br />Economic DevelopmentSupplemental Fund <br />The City of San Marcos has established an Economic Development <br />Section 1. Purpose. <br />Supplemental Fund (the Fund)to complementexisting economic development incentive tools <br />andprovidefor land, buildings, equipment, facilities, targeted infrastructure, and <br />improvements related tothe creation or retention of primary jobs. <br />Section 2. Qualified Projects. The Fund maybe used for projects that havequalified for Chapter <br />380 Economic Development Incentive from the City of San Marcos in the following categories: <br />a)Business and support facilities,including national and regional corporate headquarters, <br />back office operations,customer care service centers,processing and data centers, <br />professional, scientific and technical services, are eligible projects,provided the facilities <br />create or retain primary jobs. <br />b)Manufacturing and industrial facilities,including manufacturing in aerospace/aviation, <br />material sciences, life sciences and information technology and other advanced <br />manufacturing facilities,are eligible projects, provided the facilities create or retain <br />primary jobs. <br />c)Research and development facilitiesare eligible projects, provided the facilities create <br />or retain primary jobs. <br />d)Distribution centersand warehouse facilitiesare eligible projects, provided the <br />facilities create or retain primary jobs. <br />e)Other facilities.The Fund maybe used for other exceptional job creation opportunities <br />as determined by the Economic Development San Marcos (EDSM) Board and the City <br />Council. <br />Section 3. Use of Funds. For Qualified Projects that create or retainprimary jobs, the Fund may <br />be used to provide the following: <br />a)Grant payments, in an amount less than or equivalent to the sum totalof real and <br />personal property taxes remitted to the City in a given tax year for the subject property <br />(such grant payments shall be subject to the terms and conditions of a performance- <br />based economic development incentive agreement, and shall not exceed the balance of <br />funds available in the Supplemental Fund at the time of said agreement); <br />b)Transportation facilities (including but not limited to airports, hangars, air cargo <br />facilities, related infrastructure located on or adjacent to an airport facility, ports, mass <br />commuting facilities and parking facilities); <br />1 <br /> <br />