Res 2000-085 - Laserfiche WebLink

Home Browse Search

Doc Bk vJl3 P 00018331 OPR 1701 57g TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND TEXAS COUNTRY CLUBS, INC. FOR DEVELOPMENT OF HOTEL/GOLF COURSE/CONVENTION CENTER FACILITIES This tax abatement agreement (this "Agreement") is entered into between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Texas Country Clubs, Inc. (the "Developer"), a Texas corporation. PART 1. GENERAL PROVISIONS Section 1.01. This Agreement is authorized and governed by the Property Redevelopment and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Policy on Tax Abatement and Economic Development Incentives (the "Policy") adopted by Resolution on February 14,2000. Section 1.02. The Developer has options to purchase the 1,101 acre, more or less, area of land (the "Property") in Hays County, Texas located near the intersection of Posey Road and Old Bastrop Highway, comprised ofthel08 acre, 436.54 acre, 67.5 acre, 107.5 acre, 74.28 acre, 105.612 acre, 105.611 acre, and 96.091 acre tracts of land described as Tracts One through Tract Eight, inclusive in the attached Exhibit A. The Property meets the eligibility criteria for tax abatement under the Policy. The Property is situated within the City of San Marcos Reinvestment Zone No. 16 designated by separate ordinance by the City Council. This Agreement will be effective only if the Developer purchases the Property by July 31, 2000. Section 1.03. The Property is not part of an improvement project financed with tax increment bonds. Section 1.04. This Agreement is subjectto the rights oft..~e holders of outstanding bonds of the City. Section 1.05. The Property is not owned or leased by any member of the San Marcos City Councilor any member of the City Planning and Zoning Commission. Section 1.06. The Developer agrees to ensure that all of the improvements described below will conform to all "lpplicable City ordinances and regulations, including but not limited to the City's Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, Chapter 94- Development Standards, Chapter 11 O-Subdivisions, and Chapter 114- Zoning, of the San Marcos City Code.