Res 2025-181 approving a one-year extension of the city’s contract with the Hays Caldwell Economic Development Partnership (“HCEDP”) in the amount of $200,000.00, plus eligible expenses, for economic development services

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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 Partnership Board shall be posted on the website of the Partnership 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 Partnership will post the minutes and agendas of the meeting within a reasonable time after the minutes are approved. T. Board Responsibilities. The Partnership 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 Partnership 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 -party analysis of financial incentives or development agreements requested by the City Council. U. Press Releases and Promotion. All press releases and promotional materials produced by the Partnership about incentives granted and projects landed in the City shall recognize the involvement of the City Council and the City. The Partnership 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, the City will pay to the Partnership $50,000 per quarter throughout the term of this Agreement. The City shall also reimburse the Partnership for any expenses authorized by this Agreement within thirty (30) days of receipt of invoicing. Payments by the City, however, are subject to the terms set forth in Section 4(B) and Section 4(C) hereof. B. Board Appointments. The City shall appoint members to the HCEDP Board of Directors in accordance with the Partnership bylaws. At least one City representative shall serve on the Nominating Committee. Per the Partnership 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. SECTION 3. TERM A. The term of this Agreement shall be from October 1, 2025 through September 30,2026. B. Pursuant to the City's rights and obligations under this Agreement, both parties agree and acknowledge that a review of the terms and conditions contained EDSM Approved on Aug. 22, 2025: One -Year Extension (Clean Version) Page 8 of25