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<br /> I Lf(,J/- <br /> Page 2 <br /> Subdivision Ordinance and Zoning Ordinance. <br /> 2. <br /> PROPERTY IMPROVEMENTS AND JOB CREATION <br /> A. Butler agrees to construct improvements (the "Improvements") on the Property, the <br /> total estimated cost of which is approximately $2 million, for the expansion of Butler's San Marcos <br /> manufacturing facility for pre-engineered metal buildings. Butler shall complete the construction of the <br /> Improvements by August 1, 1995. <br /> B. Butler agrees to create, and to have on the payroll 30 new, permanent, full-time jobs <br /> at the facilities described above no later than December 31, 1995. <br /> 3. <br /> TERM, ABATEMENT PERIOD AND RATE OF ABATEMENT <br /> , <br /> A. The existing and any real estate or ad valorem property taxes hereafter imposed by the <br /> City on 100% of the increase in taxable value of the I mprovements shall be abated for one year, <br /> provided that Butler satisfies all of its obligations under this Agreement. The one year of Real Property <br /> Tax Abatement (the "Abatement Period") shall be the tax year 1995. <br /> B. The Tax Abatement shall not include any equipment, inventory, materials, or other personal <br /> '- property, nor shalf it include any increase in the value of ,the land upon which the Improvements are <br /> situated. <br /> 4. <br /> RECORDS AND AUDITS <br /> A. On or before February 1, 1996, Butler shall furnish to the City certified records <br /> supporting Butler's tax abatement for the 1995 tax year. These records shall pertain to Butler's <br /> . <br />