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<br />I <br /> <br />I <br /> <br />I <br /> <br />110. <br /> <br />RESOLUTION NO 2005- 2.3 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF A TAX ABATEMENT AGREEMENT <br />BETWEEN THE CITY AND SAN MARCOS VISTA <br />PARTNERS, LIMITED FOR A NEW PROFESSIONAL OFFICE <br />AND MEDICAL FACILITY IN THE 1300 BLOCK OF WONDER <br />WORLD DRIVE, AUTHORIZING THE CITY MANAGER TO <br />EXECUTE THE AGREEMENT, AND DECLARING AN <br />EFFECTIVE DATE <br /> <br />RECITALS <br /> <br />1 The City Council has adopted an "Economic Development Incentives Policy" that <br />authorizes tax abatement agreements <br /> <br />2 San Marcos Vista Partners, Limited ("SMVP") is proposing to construct a new <br />professional office and medical facility on its property in the 1300 block of Wonder World <br />Drive, and has asked the City to consider granting a tax abatement and other economic <br />development incentives related to the facility <br /> <br />3 The City and SMVP wish to enter into a tax abatement agreement pertaining to <br />this facility <br /> <br />4 The property on which the proposed facility will be constructed is eligible for tax <br />abatement, and appropriate notice of this tax abatement agreement has been given to <br />other taxing entities <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS <br /> <br />PART 1 The attached tax abatement agreement (the "Agreement") between the <br />City and SMVP is found to satisfy the requirements of the City's "Economic Development <br />Incentives Policy" <br /> <br />PART 2 The Agreement is found to satisfy all of the requirements of the Property <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code <br /> <br />PART 3 The recitals found in the preamble to this resolution are approved and <br />adopted in their entirety <br /> <br />PART 4 The terms and conditions of the Agreement are approved and adopted <br /> <br />PART 5 The City Manager, Dan O'Leary, is authorized to execute the Agreement. <br />