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<br /> City of San Marcos <br /> Texas Capital Fund Application <br /> Project Summary Form <br /> Page 4 <br /> PROJECT SUMMARY <br /> 1. Why is San Marcos addressint! this oarticular infrastructure need? <br /> <br /> The City of San Marcos proposes to extend a water main along the northern growth <br /> corridor to prepare for the industrial location of CTEC to the area and requests TCDP <br /> funds to meet CTEC's infrastructure requirements. Business growth and job creation will <br /> be crucial in decreasing the City's current unemployment rate of 8.6%. <br /> 2. How does San Marcos Drooose to resolve the need? <br /> <br /> San Marcos is aggressively seeking economic development and is making application <br /> for TCDP funding in order to meet CTEC water service needs. The City of San Marcos <br /> does not have the ability to fund the infrastructure necessary for the CTEC project. The <br /> extension of water service has been planned for through the City's Capital Improvement <br /> Program (CIP) along with many other projects. Due to the lack of available funds, project <br /> improvement dates have been delayed. The delays of other projects significantly impedes <br /> the progress on larger capital improvements. The application for funding to proceed with <br /> infrastructure construction is made necessary due to the current unavailability of monies <br /> for the proposed project. <br /> CTEC is a new company formed as a joint venture and that will be equally owned <br /> by Rohr Industries and General Electric. CTEC will develop, market and manufacture <br /> advanced composite technology engine components. Local residents will receive the <br /> immediate benefit from job opportunities. San Marcos proposes the TCDP infrastructure <br /> funding in accordance with growth trends and service extension needs as outlined in the <br /> Master Plan approved by the San Marcos City Council. <br /> 3. To what extent does the infrastructure oroiéct caoitalize on underutilized caoacitv? <br /> <br /> CTEC is locating along the northern area of Interstate Highway 3S within the San <br /> Marcos ETJ. Currently, the land is vacant and has been underutilized farmland along a <br /> heavily traveled major highway. The CTEC facility will be located within the proposed <br /> San Marcos Enterprise Zone boundaries which have been approved by Council action. The <br /> San Marcos Enterprise Zone Application will be presented to the Texas Department of <br /> Commerce for their consideration in the very near future. <br />