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124. Regular Meeting October 11, 2004 Page 2 He stated he feels the City needs to negotiate with Wide-Lite to extend I the alley to the Police Department. He stated HEB and the School District need a railroad underpass to IH 35. Mr. Breihan also stated the City needs a loop around San Marcos and look at moving it from McCarty to Railroad 12 and get the trucks out of San Marcos. Mayor Narvaiz introduced the Staff Report. 1) Mr. O'Leary stated the City has seen a 7.8% Sales Tax increase from the previous year. 2) Mr. O'Leary stated the Blue Ribbon Bond Committee will hold a second Public Hearing on October 14, 2004, at 7:00 p.m. at the Activity Center. Mayor Narvaiz introduced for consideration approval of three appointments to the Library Board. Mr. Mihalkanin moved to reappoint Hally Stegner, Mayor Narvaiz moved to appoint Linda Coker and Mr. Thomaides moved to appoint Ofelia Vasquez-Philo, which passed unanimously. Mayor Narvaiz introduced for consideration approval of two appointments to the Blue Ribbon Bond Committee. Mr. O'Leary stated the Blue Ribbon Bond Committee has recommended no additional new members be appointed. The Council agreed by consensus not to consider the two appointments to the Blue Ribbon Bond Committee. Mayor Narvaiz introduced Item 28, a discussion regarding a proposed I agreement for paYment in lieu of taxes for acquisition of an apartment complex by American Housing Foundation and a discussion regarding housing foundations and direction to Staff. Mr. O'Leary stated he, Mayor Narvaiz and Mr. Thomaides met with representatives of American Housing Foundation. He stated American Housing Foundation is a tax exempt foundation which provides children with scholarships and financial aid for educational purposes. He also stated American Housing Foundation is proposing to purchase a student apartment complex and removal the property off the tax roll. He stated American Housing realizes removing of a property from the tax rolls has an impact on the community and school district, so they are offering paYments in lieu of taxes (PILOT). He stated the PILOT agreement includes seven offers of paYmentsj 1) American Housing Foundation will provide a PILOT to the City equal to the property taxes with no exemptions and the City will have no loss of revenuej 2) American Housing Foundation will offer the County a PILOT for the Special Road District taxj 3) American Housing Foundation will offer the school district a PILOT for its interest or Sinking Tax LeVYj 4)American Housing Foundation will contribute $100,000.00 at the closing to the San Marcos Educational Foundationj 5) all cash flow after paYment of debt services, required reserves and PILOT paYments will be contributed to the San Marcos Educational Foundation to be used for education of studentsj 6) the I property will be owned by qa limited liability corporation and governed by a five member board, which will be controlled by the Councilj and 7) an annual audit will be conducted and provided to the City and School