Res 2012-029 - Laserfiche WebLink

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ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT Pursuant to Section 1.4.4.1 of the City of San Marcos Land Development Code, this Economic Development Incentive Agreement (this "Agreement ") is entered into by and between HEB Grocery Company, LP, a Texas limited partnership ( "HEB ") and the City of San Marcos, Texas (the "City "). HEB and the City are sometimes collectively referred to herein as the "Parties ". PART 1. RECITALS Section 1.01. The City seeks to promote local economic development and to stimulate business and commercial activity in the City. Section 1.02. Section 1.4.4.1 of the City Land Development Code (the "LDC") authorizes the City Council to grant a waiver or modification of development standards for projects approved by the City Council under the City's Economic Incentives Policy (the "Policy ") and include such waivers in an Economic Development Incentive Agreement. Section 1.03. HEB, through its retail and warehouse operations in the City, is a major employer and significant generator of municipal sales and property taxes. Section 1.04. HEB owns real property and improvements at 641 East Hopkins Street (the "Property ") where it operates a grocery store (the "Grocery Store "). The Grocery Store is approximately 73,000 square feet in size with a current taxable value for the building of $3,804,370. The Grocery Store and related retail gasoline business on the Property employs approximately 300 employees with an approximate annual payroll of $7,300,000. Section 1.05. HEB intends to remodel and expand the Grocery Store by up to 15,000 square feet and to upgrade certain exterior improvements and landscaping (the "Project "). The Project is anticipated to increase the ad valorem property tax value of the building by approximately $1,200,000 and result in an additional 10 full -time equivalent employees at the Grocery Store. A preliminary site plan of the Project is attached hereto as Exhibit "A ". Section 1.06. Eighty -three percent (83 %) of the land area of the Property is presently developed with impervious cover, as allowed under the City standards in effect at the time the Grocery Store was built. The Project, however, would be subject to current City standards under Section 4.1.6.1 of the LDC, which would limit impervious cover for the Project to eighty percent (80 %) percent of the gross area of a site. The Project would result in eighty -seven percent (87 %) of the gross land area of the Property being impervious coverage. HEB, therefore, seeks a waiver of the impervious cover limitation under Section 4.1.6.1 of the LDC so that it may develop the Project. Section 1.07. The City Council has found that NEB's request for a waiver complies with the requirements under Section 1.4.4.1 of the LDC and the Policy and has authorized the City Manager to enter in this Agreement whereby HEB is granted the waiver described herein, subject to certain benefits received by the City pursuant to this Agreement.