Res 1998-226 - Laserfiche WebLink

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14. STATE OF TEXAS COUNTY OF HAYS This agreement is being entered into on this - day of October 1998, effective October 1, 1998 between the City of San Marcos (the "City") and Tanger Properties Limited Partnership ("Tanger"). Tanger is the owner and operator of the Tanger Factory Outlet Center in San Marcos, Texas (the "Tanger Outlet Center".) The City derives significant revenues from retail business and tourism activity in the City. In order to ensure the continued success of the Tanger Outlet Center, and to enhance revenue to the City from retail business and tourism activity, the parties agree to conduct an advertising program as follows: 1. The City agrees to pay Tanger up to $150,000.00 during the period oftime from October 1, 1998 to September 30, 1999. Tanger agrees to use these funds solely for the payment of advertising to promote retail business and tourism activity in the City generally, at attractions in the area of the City, and at the Tanger Outlet Center. 2. Tanger will submit to the City for prior approval all of the advertising towards which City funds are to be contributed. Tanger shall deliver to the City Manager at 630 E. Hopkins, San Marcos, Texas a preliminary advertisement/promotion concept, media schedule and advertising plan (collectively called the "Program") for the period of this agreement. Tanger shall also deliver a copy of the Program to the Convention and Visitors Bureau Director at 202 C.M. Allen Parkway, San Marcos, Texas, who shall provide comments on the Program through the City Manager. The City will have thirty days to provide Tanger with changes or objections to the Program, after which all matters not changed or objected to will be deemed approved by the City. Once the Program is approved by Tanger and the City, Tanger may execute annual advertising contracts in accordance with the Program. Tanger will also submit each proposed advertisement to the City, which the City will have five days to approve. Upon request of Tanger, the City will use its best efforts to respond to proposed advertisements within 48 hours, due to the time sensitivity of advertising placement. In the event that advertising expenses are incurred by Tanger, but are not pre-approved by the City, the City will have no obligation to contribute towards the expenses. 3. Tanger agrees to match, dollar-for-dollar, the payments made by the City to Tanger for advertising expenses incurred by Tanger, up to the sum of$150,000.00 during the period of this agreement. In the event that Tanger desires to expend funds in excess of$150,000.00 to advertise the Tanger Outlet Center, which is likely, the City will not be obligated to contribute towards those advertising expenses, and correspondingly Tanger would have no obligation to gain pre-approval by the City of those particular advertising endeavors.