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<br /> 120 <br /> RESOLUTION 1996- 707 <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS <br /> OF A DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE <br /> CITY AND MIKE MOFFITT FOR THE CIMARRON ESTATES <br /> DEVELOPMENT NEAR THE INTERSECTION OF HOOD STREET <br /> AND MARL TON STREET; AUTHORIZING THE CITY MANAGER TO <br /> ,- EXECUTE THE AGREEMENT; AND DECLARING AN EFFECTIVE <br /> DATE. <br /> RECITALS: <br /> 1. Mike Moffitt (the "Developer") owns a 10.60 acre tract of property near the <br /> intersection of Hood Street and Marlton Street, and has proposed to construct a project on <br /> this property that is eligible for City assistance under the Infill Development Incentives <br /> Policy adopted in Resolution 1 996-63R. <br /> 2. The City Council wishes to approve a Development Incentive agreement with <br /> the Developer under which the City will assist in the construction of the Developer's project. <br /> BE IT RESOLVED BY THE CITY COUNCIL AND THE CITY OF SAN MARCOS, TEXAS: <br /> . <br /> PART 1. That the terms and conditions of the Development Incentive Agreement <br /> attached to this Resolution betweén the City and Mike Moffitt for a development near the <br /> intersection of Hood Street and Marlton Street are approved. <br /> PART 2. That the City Manager, Larry D. Gilley, is authorized to execute this <br /> Agreement on behalf of the City. <br /> PART 3. That this Resolution shall be in full force and effect immediately upon its <br /> passage. <br /> ADOPTED this 2nd day of December ,1996. <br /> fs~~ ~ <br /> Billy G. M re <br /> Mayor <br /> A1~~w¡f ø'1o~J <br /> J is K. Womack <br /> City Secretary <br /> ~ <br />