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<br />205. <br /> <br />RESOLUTION 2000- 163 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 OF SAN MARCOS AND THE GENL YTE <br />THOMAS GROUP, LLC FOR A NEW MANUFACTURING <br />FACILITY TO BE CONSTRUCTED WITHIN CITY <br />REINVESTMENT ZONE NO. 12, IN THE 1500-1600 BLOCKS OF <br />CLOVIS BARKER ROAD; AUTHORIZING THE CITY <br />MANAGER TO EXECUTE THE AGREEMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council has adopted a policy on tax abatement and other economic development <br />incentives. <br /> <br />2. The Genlyte Thomas Group, LLC ("Genlyte") is proposing to construct a new <br />manufacturing facility within City Reinvestment Zone No. 12, located in the 1500-1600 blocks of <br />Clovis Barker Road, and has asked the City to consider granting a tax abatement and other economic <br />development incentives related to the construction. <br /> <br />3. The City and Genlyte wish to enter into a tax abatement agreement pertaining to this <br />development. <br /> <br />4. The property on which the proposed construction will be located is eligible for tax <br />abatement, and appropriate notice of this tax abatement agreement has been given to other taxing <br />entities. <br /> <br />BE IT RESOL VED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The attached tax abatement agreement (the "Agreement") between the City of San <br />Marcos and Genlyte is found to satisfy all of the requirements of the City's "Policy on Tax <br />Abatement and other Economic Development Incentives for the City of San Marcos, Texas". <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 />P ART 3. The recitals found in the preamble to this resolution are approved and adopted in <br />their entirety. <br /> <br />PART 4. The terms and conditions of the Agreement are approved and adopted. <br /> <br />PART 5. The City Manager of the City of San Marcos, Larry D. Gilley, is authorized to <br />execute the Agreement. <br /> <br />P ART 6. This Resolution is in full force and effect immediately upon its passage. <br /> <br />ADOPTED on <br /> <br />September 5 <br /> <br />,2000. <br /> <br />I~ 0.../'1) , <br />I ... ) C.{~-:,ctc~t{,e<- <br /><David Chiu <br />Mayor <br /> <br /> <br />City Clerk <br />