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<br />I <br /> <br />RESOLUTION NO. 2007- 150 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING A CHAPTER 380 <br />ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE <br />CITY AND CREEKSIDE SQUARE, L TO; AUTHORIZING THE <br />CITY MANAGER TO EXECUTE THE AGREEMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />I. The City Council has adopted an Economic Development Incentives Policy by Resolution <br />2006-91 R. <br /> <br />2. Creekside Square, L TO is going to develop a 119.165 acre tract of land, more or less, <br />located along IH-35 South, as a retail development. This land is being purchased from the General <br />Land Office; therefore the development will take land that is presently not on the tax roll and turn it <br />into a productive development that will benefit the City. <br /> <br />3. The City and to enter into a chapter 380 economic development agreement pertaining to <br />this project. <br /> <br />I <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The attached development incentive agreement (the "Agreement") between the <br />City and Creekside Square, L TO is found to satisfy the requirements of the Policy. <br /> <br />PART 2. The terms and conditions of the Agreement are approved and adopted. <br /> <br />PART 3. The City Manager, Dan O'Leary, is authorized to execute this Agreement. <br /> <br />PART 4. This Resolution is in full force and effect immediately upon its passage. <br /> <br />ADOPTED on the 21st day of August 2007 <br /> <br />~vig , <br /> <br />Susan Narvaiz ~ <br />Mayor <br /> <br />I <br /> <br />Attest: <br /> <br />~,','~71\-- ~~r, ,ct,: rC;'f ~,;;j' /t'/ r,;' /)', <br />-r - /' ~_'><..._', '" L / J <br />Shel Good in . - <br />Interim City Clerk <br />