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CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT <br />As of October 16, 2018 (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 Katerra Construction LLC ("Company"). The <br />City and Company may also be referred to collectively as the "Parties" or individually as a <br />"Party" <br />PART 1. RECITALS <br />Section 1.01. The Company is a technology company redefining the construction industry. <br />The Company is focused on optimizing the ways in which buildings are designed and built. <br />Founded in 2015, the Company has more than 3,500 global employees with a growing number of <br />domestic and international offices, factories and building projects. The Company consists of <br />experts in design, material sourcing, manufacturing, logistics, technology, and construction to <br />provide a single integrated offering. <br />Section 1.02. The Company proposes to construct an advanced manufacturing facility <br />which will include a fully automated assembly line to manufacture building components in the <br />City of San Marcos. <br />Section 1.03. The Company has requested financial incentives and waivers of certain <br />development standards from the City to facilitate locating such Company facilities and business <br />activities to the City of San Marcos. <br />Section 1.04. Locating such Company facilities and business activities to the City of San <br />Marcos would benefit the City by creating new jobs and generating revenues for the City from the <br />addition of personal property inventory and improvements to real property, each of which is <br />subject to ad valorem tax assessment. <br />