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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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Res 2015-094/approving a Chapter 380 Economic Development Incentive Agreement with Amazon.com.kydc, LLC, providing incentives in the form of annual refunds of 85 percent of ad valorem taxes generated from personal property over fifteen years, 40 percent
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8/26/2015 4:23:52 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2015-94
Date
7/21/2015
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ARTICLE V <br />ADDITIONAL INCENTIVES FROM THE CITY <br />Section 5.01. Enterprise Zone. If requested by Amazon, the City Manager of the City <br />shall place an item on an agenda for a regularly scheduled meeting of the San Marcos City <br />Council for consideration and possible action to: <br />a. designate all or any portion of the Land as an "enterprise zone" as defined <br />in Section 2303.003 of the Texas Government Code; and <br />b. nominate Amazon and the Project for designation as an enterprise project <br />in accordance with Chapter 2303 of the Texas Government Code, and take any actions in <br />connection with such nomination, including the holding of any required public hearings <br />and the enactment of any ordinances and resolutions. <br />Amazon acknowledges that the City cannot and does not represent that Amazon's requests above <br />will be approved by the City Council. <br />Section 5.02. Road Dedication and Construction Waivers. Execution of the Project <br />will require the dedication of land for public right -of -way and construction of two public streets <br />and related public improvements pursuant to Chapter 7, Articles 1 and 4 of the City's Land <br />Development Code ( "LDC "). <br />a. Dedication for Street on Northern Boundary. First, a public street <br />bordering the northern boundary of the Land running perpendicular to IH -35 as illustrated <br />in Exhibit `B," attached hereto and made a part hereof, is proposed to be constructed. <br />The real property for this public- right -of way shall be dedicated by the owner of the Land <br />at the time of platting of the Land. <br />b. Dedication for Street that Divides the Land. Second, a public street is <br />proposed to be constructed through the Land along a path running parallel to Leah <br />9 <br />
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