Res 2000-135 - Laserfiche WebLink

Home Browse Search

133. AMENDED AND RESTATED TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND HAYS ENERGY, LIMITED PARTNERSHIP FOR DEVELOPMENT OF POWER GENERATION FACILITY This amended and restated tax abatement agreement (this "Agreement") is entered into between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Hays Energy Limited Partnership ("Hays Energy"), a Texas limited partnership. 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 January 12, 1998. Section 1.02. Hays Energy has an option to purchase the 109.36 acre tract ofland (the "Property") in Hays County, Texas described in the deed attached as 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. 14 designated by separate ordinance by the City Council. This Agreement will be effective only if Hays Energy purchases the Property. Section 1.03. The Property is not part of an improvement project financed with tax increment bonds. Section 1.04. This Agreement is subject to the rights of the 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. Hays Energy agrees to ensure that all ofthe improvements described below will conform to all applicable 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.