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<br /> l2l <br /> - <br /> DEVELOPMENT INCENTIVE AGREEMENT BETWEEN <br /> THE CITY OF SAN MARCOS AND MIKE MOFFITT <br /> FOR PROPOSED CIMARRON ESTATES DEVELOPMENT <br /> NEAR INTERSECTION OF HOOD STREET AND MARL TON STREET <br /> -~ <br /> I <br /> I <br /> I <br /> ; STATE 0 F 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 Mike Moffitt <br /> (the "Developer"), an individual. .¡ <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 /> l B. The Developer owns the 10.60 acre tract of property depicted on the attached <br /> Exhibit A, located at the intersection of Hood Street and Marlton Street in San Marcos, <br /> Hays County, Texas (the "Property"), the legal description of which is contained in a gift <br /> deed recorded in Volume 410, Page 23 of the Hays County Deed Records. The Property <br /> is vacant and undeveloped and is situated within an otherwise developed areà within the <br /> city, and the Property meets the minimum criteria for eligibility under the Policy. The <br /> development proposed for the Property by the Developer (the "Project") would expand the <br />