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1 <br />RESOLUTION NO. 2015-93R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS APPROVING A CHAPTER 380 <br />ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT WITH <br />TANGER PROPERTIES LIMITED PARTNERSHIP THAT <br />PROVIDES INCENTIVES OVER TEN YEARS IN AN AMOUNT <br />NOT TO EXCEED $2,500,000.00 IN THE FORM OF ANNUAL <br />REFUNDS OF A PORTION OF NEW PROPERTY AND SALES <br />TAXES GENERATED FROM THE EXPANSION OF TANGER <br />OUTLET CENTER -SAN MARCOS; AND DECLARING AN <br />EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br />PART 1. The attached Chapter 380 Economic Development Incentive <br />Agreement with Tanger Properties Limited Partnership (the "Agreement ") is hereby <br />approved. <br />PART 2. The City Manager is authorized to execute the Agreement on behalf <br />of the City. <br />PART 3. This resolution shall be in full force and effect from and after its <br />passage. <br />ADOPTED on July 21, 2015. <br />Attest: <br />Jamie.Lee Pet "ohn <br />City Clerk <br />D iel Guerr <br />Mayor <br />