Res 2004-038 - Laserfiche WebLink

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Economic Development Incentives Policy Page 3 Revision 2004 Lower Colorado River Authority, the Pedernales Electric Cooperative, the Guadalupe Blanco River Authority, the Texas Department of Transportation, the Texas Commission on Environmental Quality, Texas Department of Agriculture and of course, the Office of the Governor. In order to attract and grow businesses, the City of San Marcos has developed economic strategies to benefit and unite its citizens behind common economic development goals. The strategy includes: · Diversifying the industrial / commercial / tourism segments of our economy through the effective marketing of available resources and attributes to the targeted market. Leveraging the assets of the City, including infrastructure, services and funds, with State and Federal programs to promote the retention and expansion of existing business and to attract new business to San Marcos. Promoting, in conjunction with Texas State University, San Marcos Consolidated Independent School District and the Gary .lob Corps, educational opportunities to provide a well-educated workforce to enhance existing job opportunities and enable the creation of additional jobs. · Striving to maintain the quality of life enjoyed by its citizens by protecting its natural beauty and physical environment and by preserving its historic heritage. Promoting synergistic relationships between its existing businesses and new enterprises in order to enhance the economic value of the private sector and enhance the overall wealth of the community. · Utilizing its unique resources in business partnerships that the City can leverage to minimize risk to our citizens. · Assisting the applicant to ensure that its facilities needs are correctly matched to the appropriate Master Plan and Zoning requirements, transportation access, and available city resources. Criteria for Economic Development Incentives The City of San Marcos is committed to the promotion of quality development in all parts of the City and to improving the quality of life for its citizens. In order to meet these goals, the San Marcos City Council will consider providing tax abatement and/or other incentives to stimulate economic development in San Marcos and its extraterritorial jurisdiction (ET J). It is the policy of the City of San Marcos that such incentives will be provided to appropriate businesses in accordance with the procedures and criteria outlined in this document. Eli.qibilitv Criteria The following criteria must be met for an applicant to be considered eligible to contract for tax abatement and/or any other economic development incentive: a. The proposed development and/or redevelopment must create and maintain or retain at least 5 jobs, and/or b. An investment by the applicant of at least $50,000.00 in property improvements is required; and, c. The project must conform to the requirements of the City's Master Plan, zoning ordinance, building codes and other applicable City ordinances.