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Mark Taylor <br />San Marcos City Attorney <br />630 East Hopkins <br />San Marcos, TX 78666 <br /> <br />March 17, 2003 <br /> <br />Dear Mr. Taylor, <br /> <br />JTR Land Enterprises Inc. recently purchased a tract of property on Sturgeon Street, near River <br />Road intersection, that formerly was owned by Double Eagle Ventures Inc. From what we <br />understand, Double Eagle Ventures, per the Development Incentive Agreement for the Conway <br />Addition Section 4, had an arrangement with the City of San Marcos that waived the permit fees <br />for building within the property that our company bought. <br /> <br />JTR Land Enterprises is a commercial real estate development firm whose three partners all have <br />roots in Texas (two fi:om San Antonio, the third Lubbock). Y'fR is fully licensed by the state to <br />conduct business in Texas. Our company's business plan with this San Mareos project is to <br />construct as many as 18 "affordable" two- and three-bedroom homes ranging between t,200- <br />1400 square feet of living space, with a two-car garage. We're proposing to sell the homes for <br />between $100,000-5;110,000. <br /> <br />The property that our fu'm bought fi:om Double Eagle Ventures includes 18 city lots that would be <br />located along Sturgeon Street and in a neighborhood that ideally would fit the concepts and goals <br />of our business plans. We believe the proposed development would provide lower- to middle- <br />income home buyers - particularly first-time home buyers - an oppomm/ty to acquire an <br />affordable home in San Marcos. With the strength of the local economy, highly attractive <br />mortgage interest rates and the chance to get with as little as no down payment, JTR believes the <br />homes would be well received. <br /> <br />Mr. Taylor, we would like to request that, based on your former arrangement with Double Eagle <br />Ventures, the City of San Marcos waive its building fees of JTR Land Enterprises for this <br />proposed 18-home development. <br /> <br />We would be more than happy to answer any questions you may have and/or provide you with <br />any information that you may need of JTR Land Enterprises. We thank you in advance for your <br />time and consideration and we look forward to doing business in the City of San Marcos. <br /> <br />Sincerely 7~ours, . <br /> <br />CFO, JTR Land Enterprises Inc. <br /> <br />11 Berkeley Heights Park <br />Bloomfield, NJ 07003 <br />(973) 819-9506 <br />rmontemay~aol.com <br /> <br /> <br />