Res 2024-152 approving a one-year extension of the city’s contract with the Greater San Marcos Partnership (“GSMP”) in the amount of

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I. Economic Development San Marcos Board ("EDSM"). The President/CEO, or designee, shall attend all meetings of the EDSM Board at which an incentive presented to the City by the Partnership is discussed or at which the President/CFO's presence is requested by the City Manager. 1. For any project presented to the EDSM Board for consideration by the Partnership,the Partnership shall: i. Make meeting materials available for review by city staff no less than seventy-two (72)hours prior to the EDSM Board meeting or the required posting date. The Partnership shall endeavor to have said materials available no less than one hundred (120) hours prior to the EDSM Board meeting but is frequently constrained by timelines outside its control. ii. The City and Partnership agree that any meeting materials related to any non-public portion (also known as closed or executive session) of an EDSM Board meeting or those materials that are subject to a Non- 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. I Semi-Annual and Annual Reports. The Partnership will prepare written semi- annual reports regarding Small Business Development, 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 prepared and provided to the City Manager no later than January 31=� of 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. K. Funding Requests. On or before June 15ffi 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. L. Financial Report; Audit. The Partnership will submit to the City a written annual financial report and an audit prepared by a certified public accountant no later than January 31=� of each year. M. 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. Page 6 of 12