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<br />\~.~ <br /> <br />1$0:) <br /> <br /> <br />STATE OF TEXAS <br />TAX ABATEMENT AGREEMENT BETWEEN THE CITY <br />COUNTY OF HAYS OF SAN MARCOS AND HARPERIS HALL JOINT <br />VENTURE <br /> <br />CITY OF SAN MARCOS <br /> <br /> <br />788 580 <br /> <br /> <br />This tax abatement agreement (this "Agreement"), is entered into <br /> <br /> <br />by and between the City of San Marcos (the "City"), Texas, a homerule <br /> <br />City and municipal corporation of Hays County, Texas, duly acting <br /> <br /> <br />herein by and through its City Council, and Harper's Hall Joint <br /> <br /> <br />Venture ("HHJV"), a joint venture acting by and through its principals, <br /> <br />Guadalupe R. Carbajal and Robert C. Barton, Jr. <br /> <br /> <br />I. <br />GENERAL PROVISIONS <br /> <br />A. This tax abatement agreement is authorized by the Property <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas <br />Tax Code. <br /> <br />B. This Agreement is governed, also, by the City of San Marcos' <br />Guidelines Governing Tax Abatement and Other Economic <br />Development Incentives adopted by the City Council on January <br />23, 1989. <br /> <br />C. The City Council created a reinvestment zone to accommodate <br />the property owned by HHJV prior to the effective date of this <br />Ag reemen t. <br /> <br />D. HHJV is the owner of the property which is the subject of <br />this Agreement and which is described in Exhibit A, which is <br />attached hereto and incorporated herein for all purposes. <br />Said property is completely within the tax abatement <br />reinvestment zone described above and is within the city <br />limits of the City of San Marcos. <br /> <br />E. The property is not part of an improvement project financed by <br />tax increment bonds. <br /> <br />F. This Agreement is entered into subject to the rights of the <br />holders of outstanding bonds in the City. <br /> <br />G. The property described in Exhibit A is not owned or leased <br />by any member of the San Marcos City Councilor any member of <br />the Planning Commission of the City or any member of the <br />Zoning Commission of the City or any member of the governing <br />body of any taxing units adopting this Agreement. <br /> <br />H. All proposed improvements, as described in part II, below, <br />shall conform to all applicable City ordinances and <br />regulations, including but not limited to the City's Master <br />Plan, the City's Subdivision Ordinance and the City's Zoning <br />Ordinance. <br /> <br />II. <br />PROPERTY IMPROVEMENTS AND EMPLOYEES <br /> <br />A. HHJV agrees to construct and/or renovate facilities at a cost <br />of $350,000 or more on the property described in Exhibit A, <br />said improvements to include the renovation of two historic <br />buildings on the northside of the City square. <br /> <br /> <br /> <br />Reol Prop. eM , R <br />u . II) ecord" <br />>lilays Co >iJI <br />lInty T exQ~ <br />