Res 2018-184/approving a Chapter 380 Economic Development Incentive Agreement with Katerra, Inc. to locate an Automated Building Component Manufacturing and Distribution Facility along State Highway 80 East of State Highway 21, which agreement provides i

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Section 2.04. "Grant Payments" means the City's payments to Company once per calendar year during the Term of an amount equal to a percentage of the Additional Property Taxes generated from the Project Site as outlined in the schedule in Exhibit "C," attached hereto and made a part hereof for all purposes. Section 2.05. "Job(s)" means a full-time employment position at the Project Site resulting from or provided in connection with the Project (defined below), which position provides 2,080 annual full-time hours of employment or equivalent, a wage of no less than $15.00 per hour, employer sponsored group health insurance, paid sick days, and annual paid vacation based on length of service and paid holidays. Any position not meeting such criteria does not qualify as a "Job" for purposes of this Agreement. Section 2.06. "Personal Property" means all materials, supplies, equipment, inventory or other personal property attributable to the Business on the Project Site subject to ad valorem taxes. Section 2.07. "Project' means the operation of the Business on the Project Site and includes, without limitation, the addition of Real Property Improvements (as defined below), Personal Property, and the creation of Jobs. Section 2.08. "Project Site" means the real property within the city limits of the City of San Marcos and Hays County, Texas upon which the Project shall be executed, the legal description of which is shown in Exhibit "A," attached hereto and made a part of this Agreement for all purposes. Section 2.09. "Real Property Improvements" means the real property constituting the Project Site, together with all improvements to real property on the Project Site, other than Personal Property, subject to ad valorem tax assessment.