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RESOLUTION NO. 2025-126R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS CONCERNING PROJECT CAT TREE AND <br /> APPROVING A CHAPTER 380 ECONOMIC DEVELOPMENT <br /> INCENTIVE AGREEMENT WITH MIDWAY DEVELOPMENT, LLC <br /> PROVIDING INCENTIVES IN THE FORM OF PARTIAL REBATES OF <br /> HOTEL OCCUPANCY AND SALES TAXES OVER TEN YEARS FOR THE <br /> CONSTRUCTION OF A FULL-SERVICE DOWNTOWN HOTEL AT 429 <br /> NORTH GUADALUPE STREET WITH A MINIMUM CAPITAL <br /> INVESTMENT BY MIDWAY OF $40,000,000.00; AUTHORIZING THE <br /> CITY MANAGER, OR HER DESIGNEE, TO EXECUTE THE <br /> APPROPRIATE DOCUMENTS RELATED TO THIS AGREEMENT ON <br /> BEHALF OF THE CITY; AND DECLARING AN EFFECTIVE DATE. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. A Chapter 380 Economic Development Incentive Agreement with Midway <br /> Development,LLC for the construction of a full-service downtown hotel at 429 North Guadalupe <br /> Street to include an event lawn, amphitheater,restaurant,bar, and meeting space with a minimum <br /> capital investment of$40,000,000.00 is hereby approved. <br /> PART 2. The City Manager, or her designee, is authorized to execute the appropriate <br /> documents related to this contract on behalf of the city. <br /> PART 3. This resolution will be in full force and effect immediately from and after its <br /> passage. <br /> ADOPTED on August 5, 2025. <br /> Jane Hughson <br /> Mayor <br /> Attest: <br /> Elizabet Trevino <br /> City Cleric <br />