Res 2008-156 - Laserfiche WebLink

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ADVERTISING PROGRAM AGREEMENT This agreement (the "Agreement") is being entered into effective October" / 2008, between the City of San Marcos (the "City") and San Marcos Factory Stores, LTD ("Prime'"), RECITALS: 1. WHEREAS, Prime is the owmler and operator of the Prime Outlets in San Marcos, Texas (the "San Marcos Factory Stores"); and 2. WHEREAS, the City derives significant revenues from retail business and tourism activity in the City; and, 3. WHEREAS, in order to ensure the continued success of the San Marcos outlet mall area, to enhance revenue to-the City from retail business and tourism activity, and to increase the number of tourists staying in the City's hotel and motel facilities, Prime has offered to use its professional advertising services and efforts to facilitate a joint advertising program (the "Program") with the City. AGREEMENT NOW THEREFORE, in consideration of the mutual promises and covenants contained herein and good and valuable consideration, receipt of which is hereby acknowledged, the parties agree as follows: Development of Advertising Program. A. Prime will facilitate the media planning and buying for the Program, developed in collaboration with the City towards which City funds are to be contributed, in coordination with the City Manager or his designee. Prime agrees to use these funds with its best professional efforts for the implementation of the Program to promote retail business and tourism activity in the City generally, at attractions in the area of the City, and at the San Marcos Factory Stores. The Program will include a preliminary advertisement/promotion concept, media schedule and advertising plan for the period from January 1, 2009, through December 31, 2009. B. Once initial development of the Program is complete, Prime will prepare a proposal and provide a copy to the City Manager. The City Manager (or designee) will provide his comments, changes, and objections, if any, on the Program to Prime within ten business days after receiving the proposed Program, after which all matters not changed or objected to will be deemed approved by the City. Once the Program is approved Prime may execute advertising contracts in accordance with the Program. 2. Contribution of Funds by Prime. Prime agrees to contribute up to $307,000 for advertising expenses incurred for the Program, a sum that matches the funds provided by the City. In the event that Prime expends funds in excess of its match either to advertise the Prime Outlet Center, or promote retail business or tourism in the City, the City will not be obligated to contribute any additional funds, Page 1 of 4 CA)ocuments and Settingslssewcll\Local SettingsCiemporary Internet Files\01,K2RSM Prime Advertising Contract Final v2.doc