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261. <br /> <br />RESOLUTION NO. 2004-_&8_R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SAN MARCOS, TEXAS, ADOPTING AN <br />ECONOMIC DEVELOPMENT INCENTIVES POLICY <br />FOR THE CITY; AND DECLARING AN EFFECTIVE <br />DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council desires to promote economic development within San Marcos. <br /> <br /> 2. Providing tax abatement and other economic development incentives within the <br />City and its extraterritorial jurisdiction will likely contribute to the economic development of <br />San Marcos by encouraging major investment and the creation and retention of jobs. <br /> <br /> 3. The Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas <br />Tax Code, requires the City to establish guidelines and criteria for tax abatement before <br />entering into a tax abatement agreement. <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br /> PART 1. The City of San Marcos elects to continue its eligibility to participate in tax <br />abatement. <br /> <br /> PART 2. The attached Economic Development Incentives Policy is approved and <br />adopted. <br /> <br />PART 3. This resolution shall be full force and effect from and after its passage. <br /> <br />Adopted on <br /> <br />February 23, 2004. <br /> <br />Robert Habingreither <br />Mayor <br /> <br />Janis K. Womack <br />City Clerk <br /> <br /> <br />