Res 2018-185/approving an agreement with the Greater San Marcos Economic Development Corporation (GSMP) for Economic Development Services, providing for payments for such services in the amount of $375,000 per year over a term of three years, with an opt

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must recuse themselves from any action of the Corporation Board that would confer a benefit upon or have an economic effect on such board member. P. City Branding. Upon the City's submission of any official City brand, slogan or logo to the Corporation, the Corporation will include the brand, slogan or logo into advertising programs initiated after the receipt of the brand, slogan or logo. Q. Open Meetings. The Corporation hereby agrees to post notice of meetings of its Board of Directors and to conduct such meetings in the spirit of openness and transparency. Notices and agendas for all meetings of the Corporation Board shall be posted on the website of the Corporation and provided to the City Clerk's Office at least 48 hours in advance of the meeting. Members of the public shall be invited to attend and listen to all non-executive portions of such meetings. The Corporation will post the minutes and agendas of the meeting within a reasonable time after the minutes are approved. R. Board Responsibilities. The Corporation Board, acting as a body, by virtue of their leadership position, shall maintain a neutral posture with regard to any political activity involving elected officials, current and future, representing the Partnership's public sector investors. A standard of respect and mutual support shall be upheld by all Corporation Board members, as well. Public sector investors and their elected officials shall be treated as collaborative, supportive partners. The President and members shall not oppose any third patty analysis of financial incentives or development agreements requested by the City Council. S. Press Releases and Promotion. All press releases and promotional materials produced by the corporation about incentives granted and projects landed in the City shall recognize the involvement of the City Council and the City. The Corporation shall cite the determining factors for a business that commences operations or expands in the city such as educational, geographical, financial, or natural assets that influenced the decision. SECTION 2. OBLIGATIONS OF THE CITY A. Payments. In exchange for the services provided under this Agreement, City will pay to the Corporation $93,750 per quarter throughout the term of this Agreement; subject, however, to the terms set forth in Section 4(b) hereof, B. Assets and Liabilities. As of October 1, 2010, the Corporation acknowledges that the City contributed furniture, fixtures and equipment to the Corporation with a value of $31,302.00. C. Board Appointments. The City shall appoint six (6) members to the Corporation Board. These appointees shall include the City Manager, the Mayor, the Economic Development San Marcos Chair, San Marcos Regional Airport representative and at least two elected officials. At least one elected city representative shall serve on the Nominating Committee. Per the Corporation bylaws, the Nominating Committee meets not less than three times per year and includes the Chair, Vice Chair, one Board member, two Lead members not on the Board and one General member not on the Board. 5