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<br />RESOLUTION NO. 1006- ~R <br /> <br />A RESOLUTION OF THE CITY COUNcn.. OF TIlE CITY OF SAN <br />MARCOS, TEXAS APPROVING A MASTER DEVELOPMENT <br />AGREEMENT AND CONFERENCE CENTER LEASE <br />AGREEMENT BETWEEN THE CITY AND JQB - SAN MARCOS <br />DEVELOPMENT, LLC REGARDING THE HOTEL AND <br />CONFERENCE CENTER PROJECT; AND DECLARING AN <br />EFFEcrIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The City Council adopted a Resolution on May 3, 2005 approving an Economic Development <br />Incentives Policy as contemplated by Chapter 380 of the Texas Local Government Code. <br /> <br />1. The City IIIld the John Q. Hammons Trust executed a Memorandum of Understanding for the <br />development of a hotel and conference center project (the "Project") in November of 2004. <br /> <br />3. In July of2oo5, the City and the Hammons Trust acquired a fifteen acre site (the "Project Site") at <br />the intersection oflli-35 South and McCarty Lane for the Project. <br /> <br />4. Since the time the Project Site was acquired, the City and the Hanunons Trust have been negotiating <br />the tennS of a Master Development Agreement and Conference Center Lease AgRement, and these documents <br />are now approaching finalization. The agreements are with JQH - San Mam>S Development, LLC, a company <br />fanned by the Hammons Trost to construct, own and operate the hotel and to operate the conference center. <br /> <br />S. The City Council wishes to approve the City's entering into a Master Development Agreement and <br />Conference Center Lease Agreement with JQH - San Marcos Development, LLC, authorize and direct the City <br />staff and the City's outside counsel to negotiate changes to and finalili: the agreements, and authorize the City <br />Manager to execute the agreements as changed and finalili:d by the City staff and the City's outside counsel. <br /> <br />6. The City's Economic Development Incentives Policy authorizes the City Council to waive <br />development regulations if a development will make a unique or unequaled contribution to development or <br />redevelopment efforts in the City of San Marcos, due to its magnitude, uniqueness to the community, or <br />aesthetic quality. <br /> <br />7. The City Council has determined that the construction and operation ofthe Project on the Project <br />Site will have significant economic development benefits to the community including generating additional tax <br />revenue and enhancing employment opportunities within the City, and will make a unique or unequaled <br />contribution to development or redevelopment efforts in the City of San Marcos, due to its magnitude, <br />uniqueness to the community, and aesthetic qual ity, and therefore it is appropriate to waive certain provisions <br />of the City's Land Development Code for the Project, and authorize waiver of certain standards and regu lations <br />for the Project by the City Manager, as described in Section 3.11 of the Master Development Agreement- <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The City Council approves the City's entering into a Master Development Agreement and <br />Conference Center Lease Agreement with JQH - San Marcos Development, LLC related to the Project. <br /> <br />PART 1. The City Manager, Dan O'Leary, and the City's attorneys, Mark Taylor and Pete Broderick, <br /> <br />24 <br />