Res 1990-005 - Laserfiche WebLink

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Ey, Hl~H ~ 8 7 o~ AGREEMENT BETWEEN ()~ AND VF FACTORY OUTLET, INC. 29 TAX ABATEMENT THE CITY OF SAN MARCOS STATE OF TEXAS KNOW ALL PERSONS BY THESE PRESENTS: COUNTY OF HAYS CITY OF SAN MARCOS This tax abatement agreement (this" Agreement" ), is entered into by and between the City of San Marcos, Texas (the "City"), a Texas municipal corporation and VF Factory Outlet, Inc. ( "VF" ), a Delaware ::orporation, each acting by and through its authorized officers. 1. GENERAL PROVISIONS A. This Agreement is authorized and governed by the Property Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code, as amended. B. This Agreement is governed, also, by the City of San Marcos Policy on Tax Abatement and Other Economic Development Incentives. C. The City Council has created a reinvestment zone to accommodate the property owned by VF prior to the effective date of this Agreement. D. VF is the owner of the real property which is the subject of this Agreement and which is described in Exhibit A (the "Property"), which is attached hereto and incorporated herein for all purposes. The Property is wholly wi thin the tax abatement reinvestment zone described above and is within the City's extraterritorial jurisdiction. E. The Property is not part of an improvement project financed by tax increment bonds. F. This Agreement is entered into subject to the rights of the holders of outstanding bonds of the City. }¡; AtE JIJt AJ1 Nx11'f É/) J'/ l£.S 0 J.Jd /tJ pJ / - ~ -- ~ .