Res 1998-205 - Laserfiche WebLink

Home Browse Search

1491 762 Page 4 that Pavestone has failed to ensure the maintenance of the full number of full-time jobs during calendar year 2000, then Pavestone's Tax Abatement for tax year 2001 will be limited to A/20 of the taxable value ofthe Improvements, with "A" being the number of full-time jobs maintained during the previous calendar year. Section 5.04. If this Agreement is terminated under this Section, Pavestone will pay to the City the full value of all fee waivers provided for in Section 6 below within 60 days of the termination date. The City will be entitled to record a lien against the Property to secure the full value of the fees so waived if this payment is not timely made. Section 5.05. At the time this Agreement is fully performed by Pavestone, and upon the written request of Paves tone, the City Manager will execute a certificate in recordable form stating this Agreement has been performed, and Pavestone will be released of all further duties or obligations under this Agreement. Section 5.06. The City Council reserves the sole discretion to choose among the remedies for default enumerated in subsections A through D above. These remedies may be used in conjunction with one another or separately, and together with any other statutory or common law rights of the City. PART 6. ECONOMIC INCENTIVES PROVIDED BY THE CITY OF SAN MARCOS Section 6.01. As partial consideration for the construction of the Improvements and the creation of the jobs by Pavestone described in Part 2 above, the City agrees to provide the following incentives and benefits to Pavestone: 1. The City agrees to waive all fees (the "Fee Waiver") associated with zoning, the subdivision process, utility connections, and building permits and inspections associated with the construction of the Improvements. The Fee Waiver does not extend to water and wastewater impact fees charged by the City. 2. The City agrees to expedite the process for all hearings, reviews, inspections and contacts with City staff in order to ensure the timely completion of the construction process.