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<br /> City of San Marcos <br /> Texas Capital Fund Application <br /> Project Needs Description <br /> Page 7 <br /> PROJECT NEEDS DESCRIPTION <br /> 1. Project Needs Descriotion <br /> <br /> A. CTEC's decision to locate in San Marcos necessitates the City's ability to gain <br /> funding approval from TCDP in the amount of $500,000 for a portiGn af the cost of <br /> inf rastructure needed for the industrial facility. CTEC offers the City a <br /> commi tmen t of 65 new job apportuni ties for local residents with an ini tial <br /> investment of $20 million including facilities, land, and equipment. TCDP funding <br /> is necessary ta the City of San Marcos in order to construct the water extensions to <br /> the CTEC site. <br /> B. A review of City finanical resources has been conducted by City officials and a <br /> determination has been made to pursue TCDP funding in order to address the water <br /> service extension needs. At the present time, financial constraints would not allow <br /> the City ta pay far the total cost of the project. The City is committed to the cost <br /> balance remaining if the Texas Capital Fund is awarded. <br /> 2. Environmental Descriotion <br /> <br /> No environmental problems are an ticipa ted. Environmental assessments will be <br /> made during the plat submittal process. <br />