02271995 Regular Meeting - Laserfiche WebLink

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5 Regular Meeting February 27, 1995 Page 5 Mr. Cox moved for adoption of the Resolution and Mr. Hart seconded the motion. Mr. Mooney stated if the city puts $99,000 in the revolving loan, those funds do not come back to the city, and any funds realized would go to the state of Texas and not to San Marcos. He also asked what the County is contributing and was advised $30,000 cash and $8,000 in-kind. Mr. Mooney requested clarification n - regarding who would receive loans. Mr. Taylor stated this program does not target jobs, but rather corrects slum and blight conditions. Dr. Johan Gervais stated 85% of the funds are restricted to low income, and there will be some moderate income. The Council reviewed section 22.C.l. regarding ownership of the real estate during the 5-year incubator program, and section 22.I. regarding if the slum and blight is incubated, the proceeds are returned to the state. Mr. Taylor advised all program income we have received over the last six or seven years must be placed in this revolving loan account. The Council discussed making loans and not placing all funds in the revolving loan account. Mr. Taylor suggested the Council table this Resolution and Contract if they want to make loans, and that the property owner will probably wonder if the City is going to go through with this program if the matter is tabled. On roll call the following vote was recorded: t. ~ AYE: Moore, Har , Morrls, Cox, Hernandez. NAY: Mooney. ABSTAIN: None. Mayor Morris introduced for consideration Item 9.C. (8) removed from the consensus agenda, adoption of a Resolution, the caption which was read as follows: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AN AGREEMENT BETWEEN THE CITY AND THE SAN MARCOS INDUSTRIAL FOUNDATION FOR THE ESTABLISHMENT AND OPERATION OF THE SAN MARCOS SMALL BUSINESS INCUBATOR; AUTHORIZING THE CITY MANAGER TO EXECUTE THIS AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. Mr. Moore moved for adoption of the Resolution and Mr. Hernandez seconded the motion (Mr. Guerra present at this time - 8~47 p.m.). Mr. Mooney made reference to the first paragraph on Page 4 of the Contract regarding the City's requirement to maintain casualty insurance coverage for full replacement value of all improvements on the Project Site, and the Foundation's requirement to assure casualty insurance coverage on the contents of all buildings on the Project site. On roll call the following vote was recorded: AYE: Moore, Hart, Morris, Cox, Hernandez. NAY: Mooney. ABSTAIN: Guerra. Mayor Morris introduced for consideration Item 9.C.(9) removed from the consensus agenda, adoption of a Resolution, the caption which was read as follows: I A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, EXPRESSING THE CITY'S POSITION ON PROPOSED STATE LEGISLATION PERTAINING TO THE PROTECTION OF THE SAN MARCOS RIVER; AND DECLARING AN EFFECTIVE DATE. Mr. Hart moved for adoption of the Resolution and Mr. Cox seconded the motion. Mayor Morris advised Mr. Mooney PART 1 of the Resolution is what the city supports, and deletes the geographical boundary and 5-5-2-1 effluent. Tom Goynes stated the hazards to avoid are channelization and large reservoirs. He stated this Bill only affects the State-owned bed. Mr. Goynes stated if this Bill passes, he thinks tourism will increase and be good for the economy of San Marcos. The Council voted unanimously for adoption of the Resolution.