Res 2008-114 - Laserfiche WebLink

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CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT This agreement (the "Agreement") is entered into between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and the Master's School of San Marcos, Inc., a Texas nonprofit corporation, doing business as the Master's School ("Recipient"). The City and Recipient are collectively referred to as the "Parties". PART 1. RECITALS Section 1.01. The City seeks to promote local economic development and to stimulate business and commercial activity in the City. Section 1.02. The City is located in close proximity to several similarly sized, larger or fast growing municipalities competing to retain existing and attract new residents and employers necessary for economic stability within their respective communities. Section 1.03. Among the attributes sought by residents and employers in choosing a community within which to reside or locate are diverse and quality educational opportunities. The City seeks to encourage diverse and quality educational opportunities to retain and attract such residents and employers necessary to maintain economic stability in the City. Section 1.04. Recipient is a private educational institution operating a school in the City educating children from grades kindergarten through sixth. The presence of the school in the City adds to the diversity of educational opportunities available in the community and, thus, enhances the City's ability to retain existing and attract new residents and employers seeking such diverse educational opportunities. Section 1.05. Recipient has proposed to relocate and expand its school and educational programs by building a new school campus (the "New School") on that certain 16.19 acre tract of land along Center Point Road (the "Property") as more fully described in Exhibit "A",