Res 2004-188 - Laserfiche WebLink

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I I I ~ 4. Applications for incentives made to the City will be denied if the City finds that the application was filed after the commencement of construction, alteration or installation of improvements related to the proposed development or redevelopment. 5 For the Neighborhood Enhancement Incentive program, the builder will pay for the fees to be rebated at the time they are due Once the closing on the house for which the fees to be rebated has occurred, the builder must submit the settlement statement from the closing. The settlement statement must show that the house is in the targeted area and is at or under the price point set by City staff. Approval of Incentives by City Council 1 If the City Council determines that it is in the best interest of the City of San Marcos to provide incentives to a particular applicant, a resolution shall be adopted approving the terms and conditions of a development incentive agreement with the applicant which will enumerate the types of incentives to be provided and the conditions which are applicable to them Through adoption of this Policy, City Council approves rebate of fees for the Neighborhood Enhancement program, and no other Council Action is required for applicants to that program. 2. Any development incentive contract must include at least the following items: a. A description of each of the types of incentives to be provided and their duration b A legal description of the property in which the agreement will be operative c. Detailed information regarding the type, number, location and cost of planned improvements. d. A plan which provides access to and inspection of the property and proposed improvements by City inspectors and officials to ensure that the improvements are made according to the requirements and conditions of the agreement. e A provision limiting the uses of the property consistent with the general purpose of encouraging the development or redevelopment of the property during the period the development incentives are in effect. f. A method to provide for the recovery of all costs which are lost as a result of the agreement if the applicant fails to perform its obligations under the agreement. Duration of the Guidelines The guidelines and criteria adopted herein shall be effective from the date they are adopted by the Council and shall remain in effect for two years unless otherwise repealed by a three-fourths vote of the City Council. Housing Infill Development Incentives Policy 4