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<br />145. <br /> <br />DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF <br />SAN MARCOS AND ROGER RHEINHEIMER FOR PROPOSED DEVELOPMENT <br />IN THE 700 AND 800 BLOCKS OF OREGON STREET <br /> <br />This development incentive agreement (this "Agreement") is entered into between the City <br />of San Marcos, Texas (the "City"), a Texas municipal corporation, and Roger Rheinheimer (the <br />"Developer"), of Wimberley, Texas. <br />SECTION 1. GENERAL PROVISIONS <br /> <br />A. This Agreement is authorized and governed by the City's Infill Development Incentives <br />Policy (the "Policy") adopted on April 9, 2001. <br />B. The Developer owns Lot Nos. 7, 8, 9, 10, 11, 12, 13, 14, 15, and 16 of the Zack <br />Williamson Third Addition, a subdivision in the City of San Marcos, Hays County, Texas (the <br />"Property"), according to the plat thereof recorded in Volume 59, Pages 545-547 of the Hays County <br />Deed Records. The Property is vacant and undeveloped and is situated within an otherwise <br />developed area within the City, and the Property meets the minimum criteria for eligibility under the <br />Policy. The development proposed for the Property by the Developer (the "Project") would expand <br />the local tax base. provide affordable housing, satisfy housing needs of the community, and be <br />compatible with existing nearby land uses. <br />C. The Developer agrees that the Project must conform to all City ordinances and regulations <br />that apply to platted, undeveloped lots that are adjacent to dedicated but unimproved right-of-way <br />and are not served by City utilities. These ordinances and regulations include but are not limited to <br />the City's Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and <br />Sidewalks, Chapter 94-Development Standards, Chapter llO-Subdivisions, and Chapter 114- <br />Zoning, of the San Marcos City Code. <br />SECTION 2. THE PROJECT <br /> <br />A. The Project consists of the installation of water and wastewater mains and the <br />construction of street improvements to serve the Property. The Project includes the construction <br />of Oregon Street from its intersection with Hamilton Avenue Northeast to the dead-end of the <br />Oregon Street right-of-way, and the extension of utility facilities, all in accordance with the <br />construction plans submitted by the Developer and as approved by the City. While not a part of the <br /> <br />C:\TEMP\Rheinheimcr inti!: Kl.doc <br /> <br />1 <br />