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FR <br />UNDS ECIPIENT <br />As detailed earlier in this document, Greater San Marcos Economi <br />be better able to function and fundraise with a 501(c)(3) status. Providing investors <br />with transparency as to how their funds are being utilized – including delivering <br />regular “investor reports” on implementation progress and results ge <br />performance metrics – will ensure that they are comfortable that their monies are <br />going to the purposes designated in the Strategy. <br />S <br />OURCES <br />This Strategy represents a giant step forward in building the civic capacity of Greater <br />San Marcos. It cannot be funded from current organizational budgets, nor <br />reasonable for the regional organization’s operations and staff to take over <br />implementation of all community and economic development program <br />effort will need to be marketed as a new undertaking dedicated s <br />implementation of the Strategy. <br /> <br />Raising funds for economic development is rarely an easy process. Having a clear <br />plan and accountability measures in place is an important first As discussed <br />earlier, Market Street recommends forming a Resource Development Committee <br />immediately following the final presentation of this Implementation Plan to the <br />Partners for Progress. Many stakeholders will need to be engaged in this committee. <br />The committee should be chaired by a prominent and well-liked community leader <br />who has the proven ability to form partnerships and raise funds to push this Strategy <br />forward. <br />Under the auspice of the Resource Development Committee, Greater San Marcos <br />Economic Development staff will organize marketing materials and events to get the <br />word out about new regional economic development efforts and how community <br />members may help contribute to the cause. <br /> <br />Ultimately, the funding of the implementation will need to be a combination of the <br />following sources: <br /> <br />Greater San Marcos cities <br />Private business investments <br />Utilities <br />Hays and Caldwell counties <br />State and federal grants <br />Philanthropic and foundation investments <br />Individual investments <br />Implementation Plan 39 <br />September 2009 <br /> <br />