09272004 Regular Meeting - Laserfiche WebLink

Home Browse Search

~ l; ~1 79. Regular Meeting September 27, 2004 Page 9 RELATED TO AN EXPANSION AND RENOVATION PROJECT AT PRIME OUTLETS AT I SAN MARCOS; AUTHORIZING THE CITY MANAGER TO SIGN THE AGREEMENT; AND DECLARING AN EFFECTIVE DATE. Mr. Mihalkanin moved for adoption of the Resolution, and Mr. Guerrero seconded the motion. Mr. O'Leary stated this is an Economic Development Agreement with Prime Outlet. He stated Prime Outlet is proposing to build 197,000 square feet new construction at their site and do renovations to their current facility. He stated the new construction and renovation project will invest about $25,000,000.00 and add 145 full-time jobs. He stated this agreement is for a rebate of sales taxes from the new stores at Prime. He stated the first five years seventy-five percent of sales taxes collected would be rebated and fifty percent of the sixth and seventh years sales taxes would be rebated. He stated the proposed sales tax rebates stops when the amount reaches $2.5 million or at the end of the seventh year. Mr. David Phillips, Executive Vice President of Prime, stated Prime has invested hand-in-hand with the City of San Marcos since 1990. He stated Prime is the third largest tourist attraction in the State of Texas and receives six million visitors a year. He stated it was decided to use this project as the foundation of a renovation plan and an upgrade of our properties. He also stated Prime's goal is to bring in the best stores possible so that consumers continue to be attracted and have a desire to corne. Mr. Paul Reed, Vice President of Construction for Prime, IIprovided the Council with a packet, which defines all the architectural work and signage improvements. He stated the construction process will be done in two phases. He stated the first phase consists of taking down approximately 60,000 square feet of existing buildings and build 152,000 square feet of building to be opened October, 2005. He stated the second phase is scheduled for Easter of 2006 with another 42,000 square feet, which will simplify the traffic flow and add adequate parking. He stated this will also add a significant number of water features. Mr. Thomaides inquired as to the hotel in the design plan. Mr. Phillips stated this hotel in the Master Plan is for the long-term view of this entire property. He also stated a section of property has been allocated for a hotel and/or hotel/conference center. Mr. Bose inquired as to the drainage system and the control of rainwater. Mr. Reed stated there are two detention ponds designed for the project. He stated the first retention is located behind CenterPoint Station and was designed to handle the existing property of the San Marcos Outlet Center. He also stated when the expansion land was purchased, Prime relocated Cottonwood Creek, which allows a retention pond to be built at the back of the development. The Council then voted unanimously for adoption of the Resolution. Mayor Narvaiz introduced a discussion regarding phasing of the Hopkins ISt~ee~ Sidewalk Project fr~m the Activity Center to the Grant Harris Bu~ld~ng (Parks/Health Off~ce). Mr. O'Leary stated last April when Council allocated the annual CDBG funds, one of the projects was a