Res 2005-147 - Laserfiche WebLink

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126. DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND MORGAN FUSCHAK, D/B/A FUSCHAK'S BAR-B-QUE, FOR COMMERCIAL DEVELOPMENT PROJECT This development incentive agreement (this "Agreement") is entered into between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Morgan Fuschak, d/b/a Fuschak's Bar-B-Que ("Fuschak's"). PART 1. GENERAL PROVISIONS Section 1.01. This Agreement is authorized and governed by the Economic Development Incentives Policy (the "Policy") adopted by the City Council by Resolution on February 23,2004. Section 1.02. Fuschak's is purchasing the 1.052 acre tract of property (the "Property") located at the intersection of Del Sol Drive and IH-35 in San Marcos, Hays County, Texas. The Property meets the eligibility criteria for development incentives under the Policy. Section 1.03. Fuschak's agrees to ensure that all of the improvements described in Part 2 below will conform to all applicable City ordinances and regulations, including but not limited to the City's Master Plan, and Chapter 5-Buildings and Building Regulations, of the San Marcos City Code, and the applicable provisions ofthe City Land Development Code. PART2. PROPERTY IMPROVEMENTS Section 2.01. Fuschak's intends to construct a new 4,000 square foot building (the "Building") and related facilities on the Property at a cost of approximately $350,000. Fuschak's will relocate its existing restaurant business to the Building when the Building is completed. Section 2.02. Fuschak's will ensure that the construction of the Building and related facilities is completed by December 31, 2006. Section 2.03. Fuschak' s agrees to retain a level of at least 15 employees after the relocation to the Building during the one-year period of calendar year 2007. PART 3. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 3.01. As consideration for the construction of the Building and the retention of the jobs described in Part 2 above, the City agrees to provide the following incentives and benefits to Fuschak's: 1. The City agrees to waive all City fees (the "Fee Waiver") associated with zoning, the subdivision and site preparation process, utility connections, and building permits and inspections associated with the construction of the Building and related facilities. The