City Council

8. CONTRACT EXTENSION WITH THE SANTA CLARITA VALLEY\nECONOMIC DEVELOPMENT CORPORATION - City Council consideration to\nauthorize the renewal of the contract with the Santa Clarita Valley Economic\nDevelopment Corporation for Fiscal Year 2024-25 through Fiscal Year 2026-27.\nRECOMMENDED ACTION:\nCity Council:\n1. Authorize expenditures for the renewal of support for the Santa Clarita Valley\nEconomic Development Corporation for three consecutive Fiscal Years (FY 2024-25,\nFY 2025-26, FY 2026-27) in the amount of $240,000 annually.\n2. Authorize the City Manager or his designee to negotiate and execute a three-year\nrenewal agreement with the Santa Clarita Valley Economic Development\nCorporation, subject to City Attorney approval.