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<br />Regular Meeting <br /> <br />October 25, 2004 <br /> <br />9. <br />Page 9 <br /> <br />Ifor Humanity builds two to three homes a year. The Council then voted <br />unanimously for approval of the Ordinance on second reading. <br /> <br />Mayor Narvaiz introduced for consideration Item 28, removed from the <br />consent agenda, adoption of a Resolution, the caption which was read as <br />follows: <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, <br />ADOPTING A REVISED ECONOMIC DEVELOPMENT INCENTIVES POLICY FOR THE <br />CITY; AND DECLARING AN EFFECTIVE DATE. <br /> <br />Mr. Guerrero moved for adoption of the Resolution, and Mr. Diaz seconded <br />the motion. Mr. O'Leary stated the City has been approached to consider <br />using sales tax rebates as an economic development tool. He stated this <br />Resolution is revising the policy to provide incentives to stimulate <br />economic development in San Marcos and the ETJ. He stated requirements <br />include the creation or retention of jobs and investments of $50,000.00 in <br />property improvements. He stated a new business must bring an increased <br />taxable value to the City of $25,000,000.00 in real and business personal <br />property. He also stated a business locating in the Downtown Zoning <br />District must increase the taxable value for the City by $250,000.00 in <br />real and business personal property. He also stated a business <br />lexpansion/redevelopment must result in an increased taxable value for the <br />City of $15,000,000.00 in real and business personal property. He stated <br />the City will not rebate more than 75 percent of sales taxes generated by <br />an applicant's project in any year. The Council then voted unanimously <br />for adoption of the Resolution. <br /> <br />Mayor Narvaiz introduced for reconsideration Item 30, from the consent <br />agenda, adoption of a Resolution, the caption which was read as follows: <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, <br />APPROVING A PAYMENT IN LIEU OF TAXES ("PILOT") AGREEMENT BETWEEN THE <br />CITY AND AMERICAN HOUSING FOUNDATION; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE THIS AGREEMENT ON BEHALF OF THE CITY; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />Mr. Thomaides moved for reconsideration of the Resolution and Mr. Taylor <br />seconded the motion, which passed unanimously. Mr. Bose moved for <br />adoption of the Resolution, and Mr. Taylor seconded the motion. Mr. <br />O'Leary stated he had received a revised agreement from American Housing <br />Foundation today and has not been able to review the new agreement. Mr. <br />Mihalkanin moved to table the Resolution until the next Regular Meeting <br />ISChedUled for November 8, 2004, and Mr. Taylor seconded the motion, which <br />passed unanimously. <br /> <br />Mayor Narvaiz introduced a discussion regarding a Sculpture Garden between <br />the Library and the Activity Center and direction to Staff. Rodney Cobb, <br />