Laserfiche WebLink
<br />67. <br /> <br />TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS <br />AND GENL YTE GROUP, INC. FOR DEVELOPMENT <br />OF MANUFACTURING FACILITY <br /> <br />This tax abatement agreement (this "Agreement") is entered into effective July 12, 2004 <br />between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Genlyte <br />Thomas Group, LLC ("Genlyte"). <br />PART 1. GENERAL PROVISIONS <br /> <br />Section 1.01. This Agreement is authorized and governed by the Property Redevelopment <br />and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Policy on Tax <br />Abatement and Economic Development Incentives (the "Policy") adopted by Resolution on February <br />23, 2004. <br />Section 1.02. Genlyte owns the 38.5 acre, more or less, tract of property (the "Property") <br />described on the attached Exhibit A, located in the 1500-1600 blocks of Clovis Barker Road in San <br />Marcos, Hays County, Texas. The Property meets the eligibilíty criteria for tax abatement under the <br />Policy. The Property is situated within the City of San Marcos Reinvestment Zone No. 12 designated <br />by separate ordinance by the City Council. <br />Section 1.03. The Property is not part of an improvement project financed with tax <br />increment bonds. <br /> <br />Section 1.04. This Agreement is subject to the rights of the holders of outstanding bonds of <br />the City. <br />Section 1.05. The Property is not owned or leased by any member of the San Marcos City <br />Councilor any member of the City Planning and Zoning Commission. <br />Section 1.06. Genlyte agrees to ensure that all of the improvements described below will <br />conform to all applicable City ordinances and regulations, including but not limited to the City's <br />Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, <br />Chapter 94- Development Standards, Chapter 11 O-Subdivisions, and Chapter 114- Zoning, of the San <br />Marcos City Code. <br /> <br />PART 2. PROPERTY IMPROVEMENTS <br /> <br />Section 2.01. Genlyte intends to construct a new manufacturing facility approximately <br />225,000 square feet in size (the "Facility") on the Property at a cost of approximately $18,500,000. <br /> <br />1 <br />