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RESOLUTION NO. 2024-93R <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 BRE GROUP 500 <br /> WONDER WORLD 2022 LP, ALSO KNOWN AS PROJECT <br /> SNAPDRAGON, PROVIDING FOR THE REBATE OF REAL PROPERTY <br /> TAXES OWED TO THE CITY FOR ONLY THE UNOCCUPIED <br /> PORTIONS OF A NEWLY CONSTRUCTED SPEC BUILDING FOR THE <br /> FIRST THREE YEARS AFTER CONSTRUCTION IN AMOUNTS <br /> EQUIVALENT TO 100 PERCENT IN YEAR ONE, 75 PERCENT IN YEAR <br /> TWO, AND 50 PERCENT IN YEAR THREE; AUTHORIZING THE CITY <br /> MANAGER, OR HER DESIGNEE, TO EXECUTE SAID AGREEMENT; <br /> 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 July 2, 2024. <br /> J ne Hughson v <br /> Mayor <br /> Attest: <br /> Elizabeth Trevino <br /> City Clerk <br />