Res 2005-075 - Laserfiche WebLink

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29. CAPITAL IMPROVEMENT AGREEMENT FOR WIDE LITE MANUFACTURING FACILITY DEVELOPMENT This Agreement is made on JUNE 8 , 2005 between the City of San Marcos, a Texas municipal corporation (the "City"), 630 E. Hopkins, San Marcos, TX 78666, and Genlyte Thomas Group, LLC ( "Genlyte"), 400 West Hopkins Street, San Marcos, TX 78666. RECITALS: 1. Genlyte owns the 38.5 acre, more or less, tract of property (the "Property") described on the attached Exhibit A, located in the 1500-1600 blocks of Clovis Barker Road in San Marcos, Hays County, Texas. 2. Genlyte is in the process of constructing a new manufacturing facility approximately 225,000 square feet in size (the "Facility") on the Property. 3. Genlyte desires to defer construction of certain public improvements on the Property associated with the Facility, in accordance with Section 7.1.2.3 of the City Land Development Code. 4. The City's development regulations would normally require Genlyte to construct sidewalk improvements in connection with the construction of the Facility. However, there are special circumstances present, including the fact that no sidewalk improvements currently exist along Clovis Barker Road to which sidewalk improvements on the Property could tie in, that create a need to address the timing of Genlyte' s responsibilities for the sidewalk improvements in a manner that will integrate with other sidewalk construction in the area. AGREEMENT: For and in consideration of the promises and the mutual agreements set forth herein, the City and Genlyte agree as follows: 1. Agreements by Genlyte. Genlyte agrees as follows: A. Genlyte will complete the construction of a sidewalk along the Clovis Barker Road frontage of the Property in accordance with the construction plans approved by the City for the Property by the earlier of 1) the time a property adjacent to the Property is developed and a sidewalk along the Clovis Barker Road frontage of the adjacent property is constructed, or 2) June 30, 2015. B. Genlyte understands and agrees that if it fails to comply with its obligation under Paragraph I.A above, the City will be entitled, for that reason alone, to withhold issuance of any further development or construction-related approval or permit related to the Property until Genlyte complies with the obligation.