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• RESOLUTION NO. 2010- 122 R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING AN AGREEMENT BETWEEN THE <br />CITY OF SAN MARCOS, TEXAS AND TRICO PARTNERS, L.L.C. <br />CONCERNING THE PROPERTY LOCATED 214 EAST HUTCHISON, <br />PROVIDING FOR A CHAPTER 380 ECONOMIC DEVELOPMENT <br />INCENTIVE IN AN AMOUNT NOT TO EXCEED $50,000.00 FOR THE <br />DEMOLITION OF STRUCTURES ON THE PROPERTY IN <br />CONJUNCTION WITH PARTICIPATION IN THE TCEQ DRY <br />CLEANER REMEDIATION PROGRAM, PROVIDING FOR A FIVE <br />YEAR LEASE OF THE PROPERTY TO THE CITY FOR PUBLIC <br />PARKING PURPOSES FOR A BASE MONTHLY RENTAL AMOUNT OF <br />$1,750.00 AND PROVIDING AN OPTION FOR THE CITY TO <br />PURCHASE THE PROPERTY WITHIN THREE YEARS FOR A PRICE <br />OF $216,576.00, LESS ANY AMOUNTS PROVIDED UNDER THE <br />CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE; AND <br />DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />. PART 1. The terms and conditions of the at"aChed Commercial Lease Agreement <br />and related addenda between the City of San Marcos and Trico Partners, L.L.C. (the <br />"Agreement") are hereby approved. <br />PART 2. The Interim City Manager, Laurie Moyer, is authorized to execute the <br />Agreement on behalf of the City. <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br />ADOPTED this the 17 day of August, 2010. <br />6""u <br />Susan Narvaiz <br />Mayor <br />