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<br /> . 112 <br /> - <br /> DEVELOPMENT INCENTIVE AGREEMENT BETWEEN <br /> THE CITY OF SAN MARCOS AND <br /> CELESTINO MENDEZ, JR. AND ROSE MENDEZ <br /> FOR DEVELOPMENT AT 1216 W. MARTIN LUTHER KING, JR. DRIVE <br /> STATE OF TEXAS <br /> - <br /> COUNTY OF HAYS KNOW ALL PERSONS BY THESE PRESENTS <br /> CITY OF SAN MARCOS <br /> .. . <br /> This development incentive agreement (this "Agreement") is entered into between <br /> the City of San Marcos, Texas (the "City"), a Texas municipal corporation, and Celestino <br /> Mendez, Jr. and Rose Mendez (the "Developers"), individuals. . <br /> 1. GENERAL PROVISIONS <br /> A. This Agreement is authorized and governed by the City's Infill Development <br /> Incentives Policy (the "Policy") adopted in Resolution 1996-63R on April 8, 1996. <br /> B. The Developers own the 0.897 acre tract of property located at 1216 W. <br /> ! <br /> <br /> ¡ Martin Luther King Drive in San Marcos, Hays County, Texas (the "Property"), the legal <br /> n <br /> description of which is Lot 2, Rose Mendez Addition, as recorded in Volume 7, page 257 <br /> of the Hays County Plat Records. The Property is vacant and undeveloped and is situated <br /> within an otherwise developed area within the city, and the Property meets the minimum <br /> criteria for eligibility under the Policy. The development proposed for the Property by the <br /> Developers (the "Project") would expand the local tax base, provide affordable housing, <br /> satisfy housing needs of the community, and be compatible with existing nearby land uses. <br />