Laserfiche WebLink
<br /> -2- <br /> d. The method of financing which will be available to <br /> fund the public improvements and services which will <br /> be required of the City. <br /> e. The methods and sources of financing the public <br /> improvements which will be made by the applicant. <br /> f. The method or methods which will be available to <br /> recapture property tax revenue lost as a result of <br /> entering into a tax abatement agreement with the <br /> applicant, if the applicant fails to fulfill its <br /> responsibilities under the agreement. <br /> g. The amount of time necessary to complete the project <br /> and create the jobs which are to be provided by the <br /> applicant. <br /> SECTION C. Types of Incentives. <br /> <br /> 1. It is the intent of the City of San Marcos to offer tax <br /> abatement and other economic development incentives on an <br /> individual basis so that the total package of incentives may be <br /> designed specifically for each project which is proposed. This <br /> approach will allow the City the flexibility which is necessary to <br /> satisfy the unique needs and concerns of each applicant and the <br /> needs and concerns of the City and its citizens. <br /> 2. The criteria outlined in Section B, above, will be used <br /> to determine whether or not it is in the best interest of the City <br /> of San Marcos to provide any tax abatement or any other economic <br /> development incentives to a particular applicant. The extent to <br /> which a proposed project furthers the goals and objectives of the <br /> City of San Marcos and the projected impact of the project on the <br /> City will be used to determine the types and value of the <br /> incentives provided. Generally, no tax abatement will be provided <br /> to any applicant for more than lO years. <br /> 3. In addition to tax abatement, the following additional <br /> economic development incentives may be requested and provided by <br /> the City Council to the applicant, in the Council's sole <br /> discretion: <br /> a. Reduction or elimination of capital recovery fees <br /> (impact fees), and the costs of certain other <br /> infrastructure improvements; <br /> b. Implementation of special economic development <br /> utility rates for water, wastewater and electricity; <br /> c. Reduction or elimination of building permit fees, <br /> inspection and contractor's fees; <br /> d. Reduction or elimination of processing fees for <br /> subdivisions, zoning and land use. <br />