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<br />156 <br /> <br />RESOLUTION 1999- 91 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF AMENDMENT NO. 3 TO THE <br />DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE <br />CITY AND DOUBLE EAGLE VENTURES, INC. FOR THE <br />PROPOSED CONWAY ADDITION SECTION 4 <br />DEVELOPMENT; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE THE AMENDMENT; AND DECLARING AN <br />EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. Double Eagle Ventures, Inc. (the "Developer") owns a 3.99 acre tract of <br />property (the "Property"), located in the 600 and 700 blocks of the proposed extension of <br />Sturgeon Street in San Marcos, Hays County, Texas. <br /> <br />2. The City executed a Development Incentive Agreement with the Developer <br />on March 24, 1998 under which the City is to pay the cost for extending Sturgeon Street <br />from the Property to River Road. <br /> <br />3. The Developer has requested an amendment to this agreement to extend the <br />deadline for completing street and utility improvements from April 30, 1999 to July 31, <br />1999. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. The terms and conditions of the Amendment NO.3 to the Development <br />Incentive Agreement attached to this Resolution between the City and the Developer for <br />the proposed Conway Addition Section 4 development are approved. <br /> <br />PART 2. The City Manager, Larry D. Gilley, is authorized to execute this <br />Amendment on behalf of the City. <br /> <br />PART 3. This Resolution is in full force and effect immediately upon its passage. <br /> <br />ADOPTED this 26th day of April <br /> <br />,1999. <br /> <br />F:)~~.~ <br /> <br />Billy G. Moore <br />Mayor <br /> <br />Attest: <br />c411J,;1A:Yt( /;Uh~),/ <br />j~i~ K. Womack <br />City Secretary <br />