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<br />I <br /> <br />I <br /> <br />I <br /> <br />108. <br /> <br />RESOLUTIONNO 2005- 22 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS, ADOPTING A REVISED <br />ECONOMIC DEVELOPMENT INCENTIVES POLICY, <br />AND DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS <br /> <br />I The CIty Councll deslfes to promote economIC development wlthm San Marcos, and for <br />that reason the Councll approved an EconomIC Development Incentives Pohcy m ResolutlOn No <br />2004-183R on October 25, 2004 <br /> <br />2 Provldmg tax abatement and other economIC development mcentIves wlthm the CIty and <br />Its extraterntonal jUnSdlctlOn WIll likely contribute to the economIC development of San Marcos by <br />encouragmg major mvestment and the creatlOn and retentlOn of jobs. <br /> <br />3 The Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax <br />Code, requlfes the CIty to estabhsh gmdelmes and cntena for tax abatement before entenng mto a <br />tax abatement agreement, and It allows a tax abatement agreement to mclude, "at the optlOn of the <br />govemmg body of the mumclpahty, provlSlons for proposed changes ofzonmg ordmances, the <br />master plan, the map, bmldmg codes, and CIty ordmances" <br /> <br />4 Texas Local Government Code Chapter 380 authonzes the CIty to estabhsh and provIde <br />for the admmlstratIon of a program for makmg loans and grants of pubhc money and provldmg <br />personnel and serVIces of the CIty to promote local economIC development and to stimulate busmess <br />and commercial actIvIty m the CIty; and the CIty Councll WIshes to exerCIse thIS authonty by addmg <br />prOVlSlons to the EconomIC Development Incentives Pohcy to allow the use of sales tax rebates as an <br />addItional economIC development mcentlVe for quahfied development and redevelopment proposals. <br /> <br />5 The CIty CounCIl WIshes to reVIse the EconomIC Development Incentives Pohcy approved <br />m ResolutlOn No 2004-183R to authonze, m hmlted clfcumstances, the waIver or modlficatlOn of <br />CIty development standards and regulatlOns m development mcentlve agreements. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS <br /> <br />P ART 1 The CIty of San Marcos elects to contmue ItS ehgiblhty to partIcIpate m tax <br />abatement. <br /> <br />P ART 2 The attached reVIsed CIty of San Marcos EconomIC Development IncentIves Pohcy <br />IS approved and adopted. <br /> <br />PART 3 ThIS resolutlOn shall be full force and effect from and after ItS passage <br /> <br />Adopted on February 15, 2005 <br />