Laserfiche WebLink
<br /> <br />CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT <br />As of August 17, 2021 Effective DateChapter 380 Economic <br />Development Incentive Agreement Agreemententered into between the City of <br />Cityand Whisper Industrial <br />2019 QOZB, LLC, a Texas limited liability company Company. The City and <br />Company PartiesParty <br />PART 1. RECITALS <br />Section 1.01. Company owns an approximately 90,000 square foot spec shell <br />building located at 1225 Fortuna Road in the Whisper Development suitable for finish out <br />by a tenant for various uses allowed within the zoning district. <br />Section 1.02. Company has been presented with the prospect of leasing the <br />Tenantproposes to finish out the <br />building for a new regional robotic operated commercial laundry facility in the City to <br />serve large brand hotels in a designated region in Texas. <br />Section 1.03. Company seeks an incentive from the City that Company represents <br />it will share with Tenant to induce Tenant to locate in San Marcos. <br />The City supports the opening of new facility in the City, as doing so would <br />benefit the City by creating new jobs and generating revenues for the City from the addition <br />of personal property inventory and improvements to real property, each of which is subject <br />to ad valorem tax assessment. <br />Section 1.04. The City is authorized under Chapter 380 of the Texas Local <br />Chapter 380 <br /> <br /> <br />