Res 2013-086/Approving an Economic Development Incentive agreement between Austin Street Tavern

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amenable to waiving the applicability of the waiting periods to the Project. Section 1.07. In consideration of the mutual benefits stated in the Agreement and the promises of the Parties set forth below, the Parties enter into this Agreement and agree to the terms and conditions set forth in this Agreement. PART 2. OBLIGATIONS OF OWNER Section 2.01. Execution of the Project. On or before September 10, 2013 the Owner will commence execution of the Project to include asbestos abatement, building demolition, new construction, landscaping, signage and related improvements in substantial conformance with plans and specifications approved by the City's Department of Development Services and as shown in Exhibit "A," attached hereto and made a part hereof. The Owner will pursue completion of the Project with commercially reasonable diligence, subject to Force Majeure events as defined in Section 5.05 below. The Owner, in executing the Project, shall comply with all requirements of all applicable City of San Marcos processes, procedures, ordinances, rules, regulations and standards. Section 2.02. Employment. In conjunction with the Project, the Owner will employ at least 20 full -time employees locally to include leadership positions with estimated wage rates as follows: a. General Manager: b. Assistant Managers: C. Event Coordinator d. Accountant: e. Brewmaster: f. Assistant Brewmaster g. Chef /Kitchen Manager: $365000 - $72,000 annually $20,000 - $40,000 annually $30,000 annually $35,000 annually $455000 - $65,000 annually $20,000 - $30,000 annually $50,000 annually Additionally, Owner will employ at least 20 servers, bussers, cooks, kitchen staff and other related staff. PART 3. ECONOMIC DEVELOPMENT WAIVER PROVIDED BY THE CITY Section 3.01. Waiver of Certain Land Development Code Requirements. As to the Project, the waiting periods for the sale of alcohol for on- premises consumption under Section 4.3.4.2 (b) (8) of the LDC are hereby waived.