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<br />I <br /> <br />I <br /> <br />I <br /> <br />RESOLUTION NO. 2006- 173R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A SECOND AMENDMENT TO <br />THE MASTER DEVELOPMENT AGREEMENT BETWEEN THE <br />CITY AND JQH - SAN MARCOS DEVELOPMENT, LLC <br />REGARDING THE HOTEL AND CONFERENCE CENTER <br />PROJECT; AND DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council approved a Master Development Agreement (the "Agreement") with JQH - San <br />Marcos Development, LLC on February 7, 2006 for the development of a hotel and conference center project <br />(the "Project") at the intersection of IH-35 South and McCarty Lane. The Agreement included a deadline of <br />September 22, 2006 for JQH to inform the City of a decision to "opt out" of the Project. <br /> <br />2. The City Council, by resolution adopted on September 19, 2006, approved a First Amendment to <br />the Agreement extending to October 3,2006 the deadline for JQH to inform the City of a decision to "opt out" <br />of the Project. <br /> <br />3. JQH has requested another extension of the deadline for JQH to inform the City of a decision to <br />"opt out" of the Project. <br /> <br />4. The City Council wishes to approve the attached Second Amendment to the Master Development <br />Agreement to extend the deadline for JQH to inform the City of a decision to "opt out" of the Project. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The terms and conditions ofthe attached Second Amendment to the Master Development <br />Agreement are approved. <br /> <br />PART 2. The City Manager, Dan O'Leary, and the City's attorneys, Mark Taylor and Pete Broderick, <br />are authorized and directed to negotiate changes to and finalize the Second Amendment to Master <br />Development Agreement and related documents in the manner they deem necessary and appropriate, and the <br />City Manager, Dan O'Leary, is authorized to execute the final agreements and related documents, as changed <br />and finalized, on behalf of the City. The City Manager's execution of the agreements shall be deemed to be <br />conclusive evidence that the intent of this resolution is met and that the execution of the agreements was duly <br />authorized by the City Council. <br /> <br />PART 3. This resolution is effective immediately upon adoption. <br /> <br />ADOPTED on October 17,2006. <br /> <br />~~ <br /> <br />Mayor <br /> <br /> <br />({~ <br />