AGENDA CAPTION:
Title
Consider approval of Resolution 2016-123R, approving an agreement with the Greater San Marcos Economic Development Corporation (GSMP) for Economic Development Services; authorizing the City Manager to execute the agreement on behalf of the City; and declaring an effective date.
Body
Meeting date: September 20, 2016
Department: CMO - Kevin Burke, Economic Development & Downtown Administrator
Funds Required: $375,000.00
Account Number:
Funds Available:
Account Name:
CITY COUNCIL GOAL: Goal #4 Economic Development; Goal #7 Maintain Fiscal Responsibility
COMPREHENSIVE PLAN ELEMENT(s): N/A
BACKGROUND:
On June 2, 2015 City Council adopted Resolution No. 2015-65R, approving and agreement with the Greater San Marcos Partnership (GSMP) for economic development services (see attached). The agreement expires September 30, 2016.
The attached revised agreement extends the contract period for an additional year, until September 30, 2017, and provides additional funding to the Corporation, for a total of $375,000 annually.