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<br />9. <br /> <br />RESOLUTION NO. 2004- 1,0 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF <br />A TAX ABATEMENT AGREEMENT BETWEEN THE CITY AND <br />GLOBAL ROCK INVESTMENTS, LTD. FOR RECONSTRUCTION, <br />RENOVATION AND REMODELING OF THE OLD ROGERS <br />BUILDING AT 202 NORTH LBJ DRIVE; AUTHORIZING THE CITY <br />MANAGER TO EXECUTE THE AGREEMENT; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council has adopted a policy on tax abatement and other economic development <br />incentives. <br /> <br />2. Global Rock Investments, Ltd. is proposing to reconstruct, renovate and remodel the old Rogers <br />building at 202 North LBJ Drive, and has asked the City to consider granting a tax abatement and other <br />economic development incentives related to the construction. <br /> <br />3. The property on which the proposed construction will occur is eligible for tax abatement, and <br />appropriate notice of the City Council's consideration of a tax abatement agreement with Global Rock <br />Investments, Ltd. has been given to other taxing entities. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The City Council finds that the attached tax abatement agreement (the "Agreement") <br />between the City of San Marcos and Global Rock Investments, Ltd. satisfies all of the requirements of the <br />City's Policy on Tax Abatement and other Economic Development Incentives, and all of the requirements of <br />the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code. <br /> <br />P ART 2. The recitals to this Resolution are approved and adopted in their entirety. <br /> <br />PART 3. The terms and conditions of the Agreement are approved and adopted. <br /> <br />City. <br /> <br />PART 4. The City Manager, Dan O'Leary, is authorized to execute the Agreement on behalf ofthe <br /> <br />PART 5. This Resolution is in full force and effect itmnediately upon its passage. <br /> <br />ADOPTED on <br /> <br />March 8, 2004. <br /> <br />'(lJ-~ ~ <br /> <br />Attt:st:.' .,d ~ ^f <br />~1;y~~. Qðl ~~ <br /> <br />Janis K. Womack <br />City Clerk <br /> <br />Robelt B. Habingreither <br />Mayor <br />