Res 2005-187 - Laserfiche WebLink

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I I I 160. RESOLUTION NO 2005----1..S-1-R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS OF A TAX ABATEMENT AGREEMENT BETWEEN THE CITY AND THE CF AN COMPANY FOR A MANUFACTURING FACILITY EXPANSION PROGRAM AT THE INTERSECTION OF NORTH IH-35 AND TECHNOLOGY WAY, AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT, AND DECLARING AN EFFECTIVE DATE. RECITALS 1 The CIty Council has adopted an EconomIC Development Incentives Pohcy that authonzes tax abatement agreements m certain cucumstances. 2. The CIty has receIved a request from CF AN Company for a tax abatement in connectIOn wIth a proposed expansIOn of CF AN's manufactunng plant at the mtersectIOn of North IH-35 and Technology Way m San Marcos, under WhICh CF AN IS plannmg a multl-phase program mvolvmg sigmficant capital mvestments, retentIOn of eXIsting Jobs, and creation of new Jobs. 3 The CIty and CF AN WIsh to enter mto a tax abatement agreement pertaImng to this expansIOn program. 4 The property on WhICh the proposed expanSIOn program will be located IS ehgible for tax abatement, and appropnate notlce of thIS tax abatement agreement has been gIven to other taxmg entltles. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS PART 1 The attached tax abatement agreement (the "Agreement") between the CIty and CF AN IS found to satlsfy the reqUIrements of the CIty'S EconomIC Development Incentlves Policy P ART 2 The Agreement is found to satisfy all of the reqUIrements of the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code. PART 3 The reCItals found m the preamble to thIS resolutIOn are approved and adopted m theu entuety P ART 4 The terms and condItlons of the Agreement are approved and adopted. PART 5 The CIty Manager of the CIty of San Marcos, Dan O'Leary, IS authonzed to execute the Agreement. PART 6 ThIS ResolutIOn IS m full force and effect Immediately upon ItS passage.