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CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT <br />This agreement (the "Agreement ") is entered into between the City of San Marcos, Texas <br />(the "City "), a Texas municipal corporation, and Adventist Health System /Sunbelt, Inc., a <br />Florida not - for - profit corporation duly authorized to conduct business in the State of Texas, <br />doing business as Central Texas Medical Center ( "CTMC "). The City and CTMC are <br />collectively referred to as the "Parties ". <br />PART 1. RECITALS <br />Section 1.01. The City is located in a region of the State of Texas that is experiencing <br />rapid population growth. Such population growth has raised and will continue to the raise the <br />demand for healthcare facilities and services. <br />Section 1.02. Within close proximity to the City are two large metropolitan areas and <br />other municipalities seeking to attract quality healthcare facilities and services to meet the <br />growing demand in the region. The operators of healthcare facilities and persons employed in <br />the healthcare industry have the option and may be encouraged to locate in municipalities or <br />areas in the region other than the City. <br />Section 1.03. The City seeks to avert a shortage of diverse and locally based healthcare <br />facilities and services for the health and safety of the City's residents by taking measures to <br />retain existing and attract new healthcare facilities and persons employed in the healthcare <br />industry. <br />Section 1.04. CTMC owns and operates the Central Texas Medical Center, a hospital <br />and related facilities (the "Hospital "), located at 1301 Wonder World Drive, San Marcos, Hays <br />County, Texas 78666. CTMC proposes to expand the Hospital by constructing approximately <br />63,000 square feet of improvements with an estimated value of $35,000,000.00 (the "Hospital <br />Page 1 of 12 <br />