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Economic Development Incentives Policy Revision 2004 Page 7 Application Procedures Application Submittal Applicants for City of San Marcos economic development package to the office of the City Manager that includes: incentives should submit an application a. A completed City of San Marcos Development Incentive Application Form b. A project description that includes: · a summary of the new facility or expansion; · details and costs of the proposed improvements or expansion · a description of the proposed business operation · the number of jobs created and the expected annual payroll for all new jobs · For each new position, show the job title and salary range. · the expected source of applicants for such jobs c. A plat showing the precise location of the property, all roadways within 200 feet of the site, current zoning classification and existing land uses on the site; d. A complete legal description of the property including property tax ID number(s) e. A project timeline that details: · a schedule of all elements of the project (design phase, construction phase(s), start of operations) · the improvements and jobs created for each year for which an economic incentive is requested f. A copy of the company's most recent fiscal-year-end financial statements. If the applicant is an "S" Corporation, a partnership or a sole proprietorship, a copy of the most recent personal financial statements for anyone owning 20% of more of the company must also be included. g. Any other information you feel will assist the agencies in determining the economic impact of the project or that is requested by the City. Review Process The application will be reviewed for completeness and accuracy by the City Manager's staff and comments will be received from appropriate city departments. Once this information is compiled, the application, review comments and a staff recommendation will be forwarded to the City Council and to other entities which may be involved in offering incentives. After review by the City Council and other entities, additional information may be requested of the applicant. All requirements of Chapter 312, of the Texas Tax Code, known as the Property Redevelopment and Tax Abatement Act, shall be followed, if tax abatements are requested. Applications for tax abatement and/or any other economic incentives made to the City will be denied if the City finds that any material misstatement of fact has been made by the applicant. Approval of Incentives Request If the City Council determines that it is in the best interest of the City of San Marcos to provide incentives to a particular applicant, a resolution shall be adopted approving the terms and conditions of the economic development incentive agreement. The agreement contract will include the following elements: · An enumeration of the types and duration of incentives to be provided and the conditions which are applicable to them. · A legal description of any property to be designated as a reinvestment zone for the purposes of this agreement.