Res 2016-003/adopting a Policy Regarding Use of the City of San Marcos Economic Development Supplemental Fund, as an addendum to the City of San Marcos Economic Development Policy, adopted under Resolution 2013-185R

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Policy Regarding Use of the City of San Marcos Economic Development Supplemental Fund Section 1. Purpose. The City of San Marcos has established an Economic Development Supplemental Fund (the Fund) to complement existing economic development incentive tools for projects to be located within areas and with uses as provided for in the Comprehensive Plan, "Vision San Marcos: A River Runs Through Us." Section 2. Qualified Projects. The Fund may be used for projects that have qualified for Chapter 380 Economic Development Incentives from the City of San Marcos in the following categories: a) Business and support facilities, including national and regional corporate headquarters, back office operations, customers care service centers, processing and data centers, professional, scientific and technical services, are eligible projects, provided the facilities create or retain primary jobs. b) Business sectors for current consideration shall include aerospace/aviation, material sciences, life sciences and information technology, to include related manufacturing and industrial facilities,, as well as other advanced manufacturing facilities, provided the facilities create or retain primary jobs. c) Research and development facilities are eligible projects, provided the facilities create or retain primary jobs. d) Distribution centers and warehouse facilities are eligible projects, provided the facilities create or retain primary jobs. e) Other. The Fund may be used for other exceptional primary job creation or retention opportunities,or other business opportunities, as determined by the City Council. Section 3. Use of Funds.The Fund may be used for the following purposes: a) To fund all or a portion of Qualified Projects that the City Council determines will promote the development of new or expanded business enterprises within the City; and b) By the City Manager, as directed by the City Council, for the purpose of enhancing the City's economic development efforts. Section 4. Procedures. The process for approval of the use of the Economic Development Supplemental Fund may include: a) Analysis by City staff, and/or the Greater San Marcos Partnership, and/or the EDSM Board as necessary; and b) Consideration and Final Approval by the City Council.