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<br />206 <br /> <br />T AX ABATEMENT AGREEMENT BETWEEN THE CITY OF SAN MARCOS <br />AND GENL YTE GROUP, INC. FOR DEVELOPMENT <br />OF MANUFACTURING FACILITY <br />This tax abatement agreement (this "Agreement") is entered into between the City of San <br /> <br />Marcos, Texas (the "City"), a Texas municipal corporation, and Genlyte Thomas Group, LLC <br /> <br />("Genlyte"). <br /> <br />PART 1. GENERAL PROVISIONS <br /> <br />Section 1.01. This Agreement is authorized and governed by the Property Redevelopment <br />and Tax Abatement Act (Chapter 312 of the Texas Tax Code), and by the City's Policy on Tax <br />Abatement and Economic Development Incentives (the "Policy") adopted by Resolution on February <br />14, 2000. <br /> <br />Section 1.02. Genlyte has a contract for the purchase of the 58 acre, more or less, tract of <br />property (the "Property") described on the attached Exhibit A, located in the 1500- 1 600 blocks of <br />Clovis Barker Road in San Marcos, Hays County, Texas. The Property meets the eligibility criteria <br />for tax abatement under the Policy. The Property is situated within the City of San Marcos <br />Reinvestment Zone No. 12 designated by separate ordinance by the City Council. <br />Section 1.03. The Property is not part of an improvement project financed with tax <br />increment bonds. <br /> <br />Section 1.04. This Agreement is subject to the rights of the holders of outstanding bonds of <br />the City. <br />Section 1.05. The Property is not owned or leased by any member of the San Marcos City <br />Councilor any member of the City Planning and Zoning Commission. <br />Section 1.06. Genlyte agrees to ensure that all of the improvements described below will <br />conform to all applicable City ordinances and regulations, including but not limited to the City's <br />Master Plan, and Chapter 5-Buildings and Building Regulations, Chapter 74-Streets and Sidewalks, <br />Chapter 94-Development Standards, Chapter lIO-Subdivisions, and Chapter 114- Zoning, of the San <br />Marcos City Code. <br /> <br />PART2. PROPERTY IMPROVEMENTS <br /> <br />Section 2.01. Genlyte intends to construct a new 350,000-400,000 square foot <br />manufacturing facility (the "Facility") on the Property at a cost of approximately $30,000,000. The <br /> <br />1 <br />