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<br />I <br /> <br />I <br /> <br />I <br /> <br />Economic Development Incentives Policy <br />February, 2005 <br /> <br />Page 10 <br /> <br />3 A legal description of any property to be designated as a reinvestment zone for the purposes of <br />this agreement. <br />4 Detailed information regarding the type, number, location and cost of planned improvements. <br />5 A provision to allow access to and inspection of the property and proposed improvements by City <br />inspectors and officials to ensure that the improvements are made according to the requirements <br />and conditions of the agreement. <br />6 A provision limiting the uses of the property consistent with the general purpose of encouraging <br />development or redevelopment during the period that tax abatements and/or other economic <br />development incentives are in effect. <br />7 A method to provide for the recovery of property tax revenues and all waived fees and costs <br />which are lost as a result of the agreement if the applicant fails to perform its obligations under <br />the terms of the agreement. <br />a A provision establishing the duration of the Agreement. <br />9 A provision providing a tangible means for measuring whether the applicant and other <br />responsible parties have met their obligations under the Agreement. <br />10 A provision for cancellation of the Agreement and/or non-payment of incentives if the project is <br />determined to not be in compliance with the Agreement. <br />11 A provision that allows assignment of the Agreement with prior written approval of the City <br />Council, or without the prior written approval of the City Council provided that: <br />a All rights, duties, obligations and liabilities under the Agreement are assigned from the as <br />signor to the assignee, and <br />b The assignment is made subject and subordinate to the Agreement and these City of San <br />Marcos Economic Development Incentives Policies, and <br />c. The assignment document is in a form and contains content agreeable to the City Attorney's <br />office. <br />12. Provisions relating to administration, delinquent taxes, reporting requirements and <br />indemnification <br />13. A provision that the Agreement may be amended by the parties to the Agreement by using the <br />same procedure for approval as is required for entering into the Agreement; and <br />14 Such other provisions as the City Council shall deem appropriate <br /> <br />Additional Information about San Marcos <br /> <br />Please feel free to contact the following resources to obtain more information relating to San Marcos: <br /> <br />San Marcos Economic Develooment Council <br />512-393-5900 (phone) <br /> <br />www.sanmarcosedc.com (website) <br />edc@sanmarcostexas.com (e-mail) <br /> <br />San Marcos Chamber of Commerce <br />512-393-5900 (phone) <br /> <br />www.sanmarcostexas.com (website) <br />cham ber@sanmarcostexas.com (e-mail) <br /> <br />San Marcos Hisoanic Chamber of Commerce <br />512-353-1103 (phone) <br /> <br />www.sanmarcoshisoanic.com (website) <br />dlq@sanmarcoshisoanic.com (e-mail) <br /> <br />City of San Marcos <br />512-393-aOOO (phone) <br /> <br />www.ci.san-marcos.tx.us (website) <br />citvhall@ci.san-marcos.tx.us (e-mail) <br />