Res 2024-021 approving a Chapter 380 Economic Development Incentive Agreement with Buc-ee’s San Marcos, LLC that provides incentives in the form of refunds of 50 percent of sales taxes generated by the company

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Freestanding Sign shall be substantially similar in design and appearance to that shown in Exhibit D. b. Maintain membership in the San Marcos Area Chamber of Commerce for the Term of the Agreement. C. Upon opening for business to the public, provide space within the retail space of the Project for the location of an electronic kiosk provided by the City, at the City's sole cost and expense,which will provide digital access about various community-oriented sites venues,events, and programs. Developer shall have the right to designate the location, design, and hours of operation of the kiosk. d. Install a rainwater reclamation system as part of the initial construction of the Proj ect. e. Within 30 days of the Project's opening to the public, make a one-time $100,000.00 contribution to the City of San Marcos Community Fund. L Make an effort to hire qualified residents of the City of San Marcos for the travel center. g. Make an effort to hire local contractors and suppliers in constructing the Project. h. The Project will not provide for the servicing and/or fueling of 18 wheeled tractor- trailer or similar vehicles(excepting those 18 wheeled tractor-trailer or similar vehicles delivering merchandise, supplies and/or fuel to the Project). i. Install one or more oil and water separators through which stormwater collected on the Property within the boundaries of the area depicted in Exhibit E shall pass prior to entering the city drainage or detention systems." j. All exterior lighting fixtures will be high efficiency LED (or equivalent future technology),having time or light sensing controls with fully shielded,full cut-off and all downward directional fixtures mounted as low as practical. j. The requirements set forth in subsections 3.5(a), , (c), (d)„ , and (i) above shall survive expiration of the Project Term or termination of this Agreement due to Developer Default if and so long as Developer operates the Project on the Property. Notwithstanding anything to the contrary in this Agreement, the Property and the Project shall not be bound by this Agreement following any sale of the Property after termination of this Agreement or any foreclosure or deed in lieu of foreclosure by any lender with a deed of trust or other security interest in the Property or Proj ect. 3.6. Developer shall comply with all obligations of state law relating to the timely collection, payment or remission of sales tax to the State of Texas. Developer shall be authorized to file such protest or make such objection to the payment of sales taxes as may be authorized by law. Economic Development Agreement