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<br />28 <br /> <br />EyJf I~I-r <br /> <br />F\ <br /> <br />8'. If} r¡ <br />},! cr <br /> <br />; 7£~ ~ <br /> <br />TAX ABATEMENT AGREEMENT BETWEEN <br />THE CITY OF SAN MARCOS AND SAN MARCOS FACTORY STORES, LTD. <br /> <br />STATE OF TEXAS <br /> <br />KNOW ALL PERSONS BY THESE PRESENTS: <br /> <br />COUNTY OF HAYS <br />CITY OF SAN MARCOS <br /> <br />This tax abatement agreement (this "Agreement"), is entered into <br /> <br />by and between the City of San Marcos, Texas <br /> <br />(the "City"), a Texas <br /> <br />municipal corporation and San Marcos Factory Stores, Ltd. <br /> <br />( "Factory <br /> <br />5tores"), a Texas limited partnership, each acting by and through its <br /> <br />duthorized officers. <br /> <br />I. <br /> <br />GENERAL PROVISIONS <br /> <br />A. <br /> <br />This Agreement is authorized and governed <br /> <br />by the Property <br /> <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas <br /> <br />Tax Code, as amended. <br /> <br />B. <br /> <br />This Agreement is governed, also, by the City of San Marcos <br /> <br />Policy <br /> <br />on <br /> <br />Tax <br /> <br />Abatement <br /> <br />and <br /> <br />Other <br /> <br />Economic <br /> <br />Development <br /> <br />Incentives. <br /> <br />C. <br /> <br />The <br /> <br />City <br /> <br />Council <br /> <br />has <br /> <br />created <br /> <br />a <br /> <br />reinvestment <br /> <br />zone <br /> <br />to <br /> <br />accommodate the property owned by Factory Stores prior to the <br /> <br />effective date of this Agreement. <br /> <br />D. <br /> <br />Factory Stores is the owner of the real property which is the <br /> <br />subject of this Agreement and which is described in Exhibit A <br /> <br />(the "Property"), which is attached hereto and incorporated <br /> <br />herein for all purposes. <br /> <br />The Property is wholly within the <br /> <br />tax abatement reinvestment zone described above and is partly <br /> <br />within the City's corporate limits <br /> <br />and partly within the <br /> <br />City's extraterritorial jurisdiction. <br /> <br />E. <br /> <br />The Property is not part of an improvement project financed <br /> <br />by tax increment bonds. <br /> <br />A~ it fJl' r, PJDI fí(þ Iii it JØJ.áíKl / 1- ;J,:1. ~U'. <br />