Res 2021-178/approving an agreement with the Greater San Marcos Economic Development Corporation (“The Greater San Marcos Partnership”) for economic development and small business economic development services in the amount of $400,000 per year

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Disclosure Agreement executed by the Partnership shall only be made available for review in physical form in the offices of the Partnership with a staff member of the Partnership present during its normal business hours. EDSM Board members shall not be permitted to bring any device capable of communicating with individuals outside the review room, recording, photographing, or otherwise duplicating or disseminating the non-public meeting materials. K. Semi-Annual and Annual Reports. The Partnership will prepare written semi- annual reports regarding Small Business Development, Business Retention and Expansion, Business Attraction, and Workforce Development for the City of San Marcos and present to the City Council and City Manager. A written Annual Report on activities of the Partnership will be st prepared and provided to the City Manager no later than January 31of each year.The reports provided to the City Council in this paragraph are in addition to any information the City may request from the Partnership for presentation to the City Council in connection with a specific request for an economic development incentive request to be considered by the City Council. th L. Funding Requests. On or before June 15 of each year preceding the fiscal year for which City funding is requested, the Partnership will, in consultation with the President/CEO, develop and submit to the City for review, the Partnership’s draft annual budget, any changes or additions to the proposed program of work, and benchmark measurements in the Partnership’s Vision 2025 Economic Development Strategy or City of San Marcos Economic Development Policy. Any modifications to this Agreement, including but not limited to additional funding requests, are subject to review and approval by the City Council. M. Financial Report; Audit. The Partnership will submit to the City a written annual st financial report and an audit prepared by a certified public accountantno later than January 31of each year. N. Use of Funds. Funds paid by the City to the Partnership shall be deposited into an account utilized by the Partnership solely for the purposes of personnel expenses (including employee benefits) and occupancy costs (e.g., rent, utilities, insurance) for its office within the City. O. Records and Expense Reports. The Partnership shall maintain complete and accurate financial records of each expenditure of funds in accordance with generally accepted accounting principles prescribed for the Partnership and, at the request of the City Manager or his or her designee, shall make the records available for inspection and review during normal business hours. The Partnership, as a recipient of public funds under this Agreement, hereby acknowledges that all of its records both in the future and in the past are subject to the disclosure requirements and exceptions provided in the Texas Public Information Act, Chapter 552, Texas Government Code. The Partnership shall promptly respond to public information requests received by the City and shall immediately notify the City Clerk of any public information request the Partnership receives from any third party. Beginning January 1, 2022, the Partnership will provide monthly Allocation Reports to the City’s Economic and Business Development Managerwhich allocate the hours of the Partnership personnel’stimeand occupancy costsutilized to execute the functions Page 8 of 22