Laserfiche WebLink
requirements of Section 3.02, if the Owner fails to meet the minimum capital investment within <br />the time prescribed therein, but subsequently meets the minimum capital investment <br />requirement, the Owner will be eligible to receive the maximum possible annual Grant Payment <br />for any years after the year in which the capital investment target is satisfied (but, there shall be <br />no retroactive payments to offset any prior reduced Grant Payments). <br />Section 4.04. Reduction in Grant Payments Due to Relocation of Existing Business. <br />In the event that the Owner facilitates the relocation of a business from an existing location <br />within the City limits San Marcos to the Site, each annual Grant Payment to the Owner shall be <br />reduced by an amount equal to the sum of sales taxes and ad valorem property taxes attributable <br />to the relocated business at the previous location paid to the City during the calendar year <br />immediately preceding the relocation, but any increase in sales and ad valorem taxes above such <br />SLIM will be included in calculating the amount of any Grant Payment due to the Owner. <br />Section 4.05. Time for Making Payment. In accordance with Section 4.02, the Owner <br />may request, in writing to the City Manager, initiation of Grant Payments. The City shall not be <br />required to make a Grant Payment during any applicable calendar year unless and until: <br />a. the Owner has submitted a compliance certificate, in the form attached <br />hereto as Exhibit "C" (the "Compliance Certificate "), together with all information <br />the City may request to verify the Owner's compliance with the terms of this <br />Agreement; <br />b. Additional Property Taxes for the prior calendar year are received by the <br />City from the Hays County Tax Assessor - Collector; <br />C. Additional Sales Taxes for the prior calendar year are received by the City <br />from the Texas Comptroller of Public Accounts; and <br />d. funds are appropriated by the San Marcos City Council for the specific <br />purpose of making a Grant Payment under this Agreement as part of the City's ordinary <br />budget and appropriations approval process. <br />Provided the foregoing conditions have been satisfied and the Owner is, otherwise, in <br />compliance with this Agreement, the City shall pay to the Owner any Grant Payments due within <br />30 days after the last to occur of the events in subsections (a), (b), (c) and (d) of this Section. <br />Section 4.06. Waiver of Certain Land Development Code Sign Requirements. <br />Subject to the Owner's compliance with this Agreement, the City waives the following <br />requirements of the LDC applicable to the signs in Exhibit "B ": <br />a. The requirement that on- premises attached signs not extend vertically <br />above the highest point of the roofline under Section 6.3.3.2(a)(1) is waived in order to <br />allow such greater height for the on- premises attached sign labeled "F." <br />b. The limitation on the number of signs permitted along a street frontage <br />