Res 2008-136 - Laserfiche WebLink

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15.12. Completion of the Project shall be evidenced by the issuance by the City of a Certificate of Occupancy to Developer for all improvements. Section 2.02. Business Operation. As soon as reasonably practicable after completion of the Project, Developer shall begin operation of the Business on the Premises. If, at any time, the primary activity of the business conducted by Developer on the Premises is no longer the selling of new vehicles, Developer will be deemed to have discontinued operating the Business as contemplated by this Agreement. In connection with the Business the Developer shall endeavor to maintain on the Premises during the first year equipment and personal property with a taxed assessed value of $2,000,000.00. Developer will also endeavor to employ 100 employees with an estimated payroll of at least $2,750,000.00. Section 2.03. Sign Installation. Developer shall install only such signs as are identified in Exhibit "B", attached hereto and made a part hereof for all purposes, and only in accordance with the specifications for each sign set forth therein. Such signs shall be installed only in the locations for each sign as shown in Exhibit "A". Section 2.04. Welcome Message. Developer shall include a public service message welcoming visitors to the City of San Marcos on the CEVM sign described in Exhibit B", such message to be displayed with reasonable frequency and for a reasonable length of time so as to be easily visible from I1-1-35. The form of message and manner of display shall be approved by the City Manager. PART 3. ECONOMIC DEVELOPMENT INCENTIVES PROVIDED BY THE CITY Section 3.01. Waiver of Certain Land Development Code Requirements. It is understood and agreed by Developer that its completion of the Project as described and operation of the Business as defined in this Agreement are material inducements to the City in entering into 3