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<br /> City of San Marcos <br /> Texas Captial Fund Application <br /> Budget Justification <br /> Page 8 <br /> BUDGET JUSTIFICATION <br /> CTEC has made a decision to locate an industrial development to the City of San <br /> Marcos which necessitates making infrastructure extensions to the selected site. City <br /> officials have reviewed the city operating budget and the City does not have reserves that <br /> can be applied toward the infrastructure requirements. CTEC will be an important <br /> economic development project that will create 65 new jobs over the next two years for area, <br /> therefore, the City of San Marcos is requesting a grant from the Texas Department of <br /> Commerce Capital Fund. <br /> 1. The grant funds will not be used for land acquisition. CTEC has purchased 110.89 <br /> acres of land from property owners on which their facility will be located. <br /> 2. No TCDP funds will be used for development costs. <br /> 3. TCDP funds in the amount of $500,000 will be used directly for the construction of <br /> infrastructure extensions to the CTEC site along Interstate Highway 35. The cost <br /> breakdown estimates include the type of water lines needed, sizes required, <br /> engineering fees and contingency fees necessary for the project. Cost estimates were <br /> developed by the Director of Public Works for the City of San Marcos and reflect <br /> current construction cost averages. <br /> 4. No TCDP funds will be used for facility construction. <br /> 5. No TCDP funds will be used for machinery and equipment. <br /> 6. No TCDP funds will be used for working capital. <br /> 7. Other USES - Not applicabie to the grant request. <br />