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go <br /> <br />ho <br /> <br />A chart showing the Improvements and Jobs created For each year for <br />which an economic Incentive is requested. <br /> <br />The applicant shall provide any other Information about the proposed. <br />project which may be required by the City. ' <br /> <br /> 2. The application will be reviewed by City Manager staff for completeness and <br />accuracy and comments will be received from appropriate depa_rtrnents. Once tiffs information <br />Is compiled, the application, review comments and recommendation will be forwarded to the <br />members of the City Council and to other taxing entities which may be involved in offering tax <br />abatement. After the review by the City Council members and other tax/ng entities, adclltional <br />information may be requested of the applicant <br /> <br /> 3. All requirements of Chapter 312, of the Texas Tax Code, known as the Property <br />Redevelopment and Tax Abatement Act, shall be followed. <br /> <br /> 4. Applications for tax abatement and/or any other economlc incentive made to the <br />City will be dented if the City finds: <br /> <br />bo <br /> <br />That the application for abatement was fl/ed after the commencement of <br />construction, alteration or ins~nl!ation of improvements related to a <br />proposed modernization expansion or new facility; or <br /> <br />That a decision to commence modernization, expansion or new facility in <br />the City was formally announced on or before the date of adoption of the <br />agreement. <br /> <br />Section E. Approval of Tax Abatement and/or other Economic Development <br /> Incentives by the Cl_ty Council. , <br /> <br /> 1. If the city Council determines that it is in the best interest of the City of San <br />Marcos to provide incentives to a particular applicant, a resolution shall be adopted approving <br />the terms and conditions of a tax abatement and/or economic development Incentive <br />agreement with the applicant which will enumerate the types of incentives to be provided and <br />the conditions which are applicable to them. <br /> <br /> 2. Any tax abatement and/or economic incentive contract must include at least the <br />following items: <br /> <br /> a. A description of each of the types of Incentives to be provided and their <br /> duration. <br /> <br /> b. A legal description of the property to be designated as a reinvestment <br /> zone In which the agreement will be operative. <br /> <br /> e. Detailed Information regarding the type, number, location and cost of <br /> planned improvements. <br /> <br /> d. A plan which provides access to and Inspection of the property and <br /> proposed improvements by City inspectors and officials to ensure that <br /> the Improvements are made according to the requirements and <br /> conditions of the agreement. <br /> <br /> e. A provision limiting the uses of the property consistent with the general <br /> purpose of encouraging development or redevelopment of the zone during <br /> the period that tax abatements and/or other economic development <br /> Incentives are in effect_ <br /> <br />A method to provide for the recovery of property tax revenues and all <br />waived fees and costs which are lost as a result of the agreement ff the <br />applicant f~ lis to perform Its obligations under the agreement, <br /> <br /> <br />