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<br /> 173 <br /> RESOLUTION 1998-.1.3JLR <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS, APPROVING THE TERMS AND CONDITIONS OF AMENDMENT <br />NO.1 TO THE TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF <br />SAN MARCOS AND THE DAYTON HUDSON CORPORATION FOR A <br />TARGET RETAIL DEPARTMENT STORE TO BE CONSTRUCTED AT <br />SPRINGTOWN CENTER; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE THE AGREEMENT; AND DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. The City Council approved a tax abatement agreement between the City and <br />the DaytonHudson Corporation for the construction of a new Target retail department store <br />at Springtown Center in Resolution 1998-93R. <br />2. The Dayton Hudson Corporation has asked the City to amend the abatement <br />agreement with the City of San Marcos pertaining to this construction. <br />3. The property on which the proposed construction will be located is eligible for <br />tax abatement, and appropriate notice of this tax abatement agreement amendment has <br />been given to other taxing entities. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Amendment No.1 to the Tax Abatement Agreement between <br />the City of San Marcos and the Dayton Hudson Corporation is approved and adopted. <br />PART 2. The City Manager ofthe City of San Marcos, Larry D. Gilley, is authorized <br />to execute this Amendment. <br />PART 3. This Resolution is in full force and effect immediately upon its passage. <br />Adopted this 27th day of July ,1998. <br /> &~ ~. ~ <br /> Billy G. Moore <br /> Mayor <br />~T: / ~ <br />¡wAf 0 íYA~ <br />Ja IS K. Womack <br />City Secretary <br />