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<br /> 172 <br /> RESOLUTION 1998-_JQ_5 - R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CiTY OF <br /> SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br /> CONDITIONS OF AN AMENDED TAX ABATEMENT <br /> AGREEMENT BETWEEN THE CITY OF SAN MARCOS AND <br /> THE PAVESTONE COMPANY, LP FOR A MASONRY <br /> BLOCK MANUFACTURING FACILITY TO BE <br /> CONSTRUCTED IN THE VICINITY OF THE HAYS COUNTY <br /> CIVIC CENTER; AUTHORIZING THE CITY MANAGER TO <br /> EXECUTE THE AGREEMENT; AND DECLARING AN <br /> EFFECTIVE DATE. <br /> RECITALS: <br /> 1. The City Council has adopted a policy on tax abatement and other economic <br /> development incentives. <br /> 2. The Pavestone Company, LP ("Pavestone") is proposing construct a new <br /> masonry block manufacturing facility at a site in the vicinity of the Hays County Civic <br /> Center, and has asked the City to consider granting a tax abatement and other economic <br /> development incentives related to the construction. <br /> 3. The City and Pavestone wish to enter into a tax abatement agreement with the <br /> City of San Marcos pertaining to this construction. <br /> 4. The property on which the proposed construction will be located is eligible for tax <br /> abatement, and appropriate notice of this tax abatement agreement has been given to <br /> other taxing entities. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> PART 1. The attached tax abatement agreement (the "Agreement") between the <br /> City of San Marcos and Pavestone is found to satisfy all of the requirements of the City's <br /> "Policy on Tax Abatement and other Economic Development Incentives for the City of San <br /> Marcos, Texas". <br /> PART 2. The Agreement is found to satisfy all of the requirements of the Property <br /> Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code. <br /> PART 3. The recitals found in the preamble to this resolution are approved and <br /> adopted in their entirety. <br /> PART 4. The terms and conditions of the Agreement are approved and adopted. <br /> PART 5. The City Manager of the City of San Marcos, Larry D. Gilley, is authorized <br /> to execute this Agreement. <br /> PART 6. This Resolution is in full force and effect immediately upon its passage. <br /> ADOPTED this 26TH day of OCTOBER ,1998. <br /> ~~îr~ <br /> Mayor <br /> ~. '. /.~ <br /> I .~" ,,1 <br /> Zîl)1JA l~¡ {If If)t4{¡;/7V'v)1) <br /> J nis K. Womack <br /> City Secretary <br />