Res 2006-051 - Laserfiche WebLink

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I I I 226. DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND JAIME AYALA, PRINCIPAL FOR JSA RETAIL, FOR COMMERCIAL DEVELOPMENT PROJECT This development incentive agreement (this "Agreement") is entered into between the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Jaime Ayala as principal for JSA Retail, LLC ("JSA Retail"). PART 1. GENERAL PROVISIONS Section 1.01. This Agreement is authorized and governed by the Economic Development Incentives Policy (the "Policy") adopted by the City Council by Resolution on February 23,2004. Section 1.02. JSA Retail is constructing a 11,890 square foot Sears retail department store on a 1.23 acre lot, located at 1705 IH 35 South, in San Marcos, Hays County, Texas. The Property meets the eligibility criteria for development incentives under the Policy. Section 1.03. JSA Retail agrees to ensure that all of the improvements described in Part 2 below will conform to all applicable City ordinances and regulations, including but not limited to the City's Master Plan, and Chapter 5-Buildings and Building Regulations, of the San Marcos City Code, and the applicable provisions of the City Land Development Code. PART 2. PROPERTY IMPROVEMENTS Section 2.01. JSA Retail intends to construct a new 11,890 square foot building (the "Building") and related facilities on the Property at a cost of approximately $556,000. Section 2.02. JSA Retail will ensure that the construction of the Building and related facilities is completed by on or before September 30, 2006. Section 2.03. JSA Retail agrees to retain a level of at least 6 employees after the relocation to the Building during the one-year period of calendar year 2007. PART 3. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 3.01. As consideration for the construction of the Building and the retention of the jobs described in Part 2 above, the City agrees to provide the following incentives and benefits to JSA Retail: 1. The City agrees to waive all City fees (the "Fee Waiver") associated with zoning the subdivision and site preparation process, utility connections, and building permits and inspections associated with the construction of the Building and related facilities. The Fee Waiver does not extend to water and wastewater impact fees charged by the City. Page 1 of 4