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RESOLUTION NO. 2022-20OR <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS APPROVING A CHAPTER 380 ECONOMIC <br /> DEVELOPMENT INCENTIVE AGREEMENT WITH MAJESTIC <br /> REALTY CO. PROVIDING INCENTIVES IN THE FORM OF REFUNDS <br /> OF 50 PERCENT OF ADDITIONAL REAL PROPERTY TAXES FOR UP <br /> TO THREE YEARS PER BUILDING FOR THE CONSTRUCTION OF <br /> INDUSTRIAL LEASE SPACE ON CENTERPOINT ROAD, TO THE <br /> EXTENT SUCH SPACE REMAINS UNLEASED; AUTHORIZING THE <br /> CITY MANAGER, OR HER DESIGNEE, TO EXECUTE SAID <br /> AGREEMENT; AND DECLARING AN EFFECTIVE DATE. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. The attached Chapter 380 Economic Development Incentive Agreement <br /> (the "Agreement") is approved. <br /> PART 2. The City Manager, or her designee, is authorized to execute the Agreement <br /> on behalf of the City. <br /> PART 3. This resolution shall be in full force and effect immediately from and after <br /> its passage. <br /> ADOPTED on September 6, 2022. <br /> jr- <br /> Jane Hughson <br /> Mayor <br /> Attest: <br /> Elizabeth Trevino <br /> City Clerk <br />