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CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT <br />As of July 21, 2015 (the "Effective Date ") this Chapter 380 Economic Development <br />Incentive Agreement (the "Agreement ") is entered into between the City of San Marcos, Texas <br />(the "City "), a Texas municipal corporation, and Amazon.com.kydc LLC, a limited liability <br />company organized in the State of Delaware ( "Amazon') and duly authorized to conduct <br />business in the State of Texas (the "State "). The City and Amazon may also be referred to <br />collectively as the "Parties" or individually as a "Party." Capitalized terms not otherwise defined <br />have the meaning given them in Article II. <br />ARTICLE I <br />RECITALS <br />Section 1.01. Amazon is an electronics products and internet retail sales company with <br />distribution and fulfillment centers in locations in the United States and other countries. <br />Section 1.02. Amazon has informed the City that financial and other development <br />incentives from the City would induce Amazon to build (or cause to be built) and operate an <br />approximately 855,000 square -foot fulfillment center with a capital investment of approximately <br />$60,000,000 (which may include an investment of the developer of the fulfillment center) in <br />building improvements, and approximately $131,000,000 in personal property, furniture, <br />fixtures, equipment and inventory at the Project in the City, and in which Amazon will provide at <br />least 350 Jobs and an aggregate annual payroll of at least $11,284,000. <br />Section 1.03. By locating these business activities in the City, Amazon and its Affiliates <br />will create new jobs, generate sales and use tax revenues, and add improvements to real property <br />and personal property and inventory subject to ad valorem tax assessment. <br />