Res 2005-027 - Laserfiche WebLink

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I I I 116. RESOLUTION NO 2005- 27 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING AMENDMENT NO 1 TO THE ECONOMIC DEVELOPMENT AGREEMENT BETWEEN THE CITY, SAN MARCOS FACTORY STORES, LTD AND PRIME OUTLETS SAN MARCOS L.P RELATED TO AN EXP ANSION AND RENOV A TION PROJECT AT PRIME OUTLETS AT SAN MARCOS, AUTHORIZING THE CITY MANAGER TO SIGN THE AMENDMENT, AND DECLARING AN EFFECTIVE DATE RECITALS 1 San Marcos Factory Stores, Ltd. and Pnme Outlets San Marcos, L.P own and operate a retail facIhty m the CIty, Pnme Outlets at San Marcos 2. Pnme Outlets at San Marcos, together wIth Tanger Factory Outlets, has for several years been the thud most popular tounst destmatIOn m the State of Texas, and generates sIgmficant sales and use tax revenues for the CIty 3 San Marcos Factory Stores, Ltd. and Pnme Outlets San Marcos, L.P have proposed a project to renovate and expand Pnme Outlets at San Marcos (the "ProJect"), and have estlmated that the Project wIll result m sIgmficant mcreases m retaIl sales at Pnme Outlets at San Marcos, and m sales and use tax payments to the CIty 4 The CIty CouncIl, m ResolutIOn 2004-169R, approved an EconomIC Development Agreement WIth San Marcos Factory Stores, Ltd. and Pnme Outlets San Marcos, L.P related to the renovatIOn and expanSIOn of Pnme Outlets at San Marcos. 5 The CIty CouncIl IS authonzed under the CIty'S EconomIc Development Incentlves Pohcy to Waive or modIfy constructIon and development standards and reqUIrements related to economIC development projects m the CIty 6 San Marcos Factory Stores, Ltd. and Prime Outlets San Marcos, L.P recently submItted a request to the CIty to Waive or modify landscapmg and sign standards and reqUIrements related to the Project. 7 The City CouncIl finds and determmes that the Waiver or modIficatIOn oflandscapmg and SIgn standards and reqUIrements related to the Project would clearly promote economIC development m the CIty, and IS m the best mterests of the CIty 8 The CIty CouncIl WIshes to approve a Waiver or modIficatIOn of landscapmg and SIgn standards and reqUIrements related to the ProJect, and to authonze the CIty staff to reVIew and approve the Waiver or modIficatIOn of other standards and reqUIrements, as described m the attached Amendment No 1 to the Agreement.