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• RESOLUTION NO. 2009-75R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING AN AMENDMENT TO <br />THE TAX ABATEMENT AGREEMENT BETWEEN THE CITY <br />AND GENLYTE THOMAS GROUP, LLC; AUTHORIZING THE <br />CITY MANAGER TO EXECUTE THE AGREEMENT; AND <br />DECLARING AN EFFECTIVE DATE. <br />RECITALS: <br />1. By Resolution 2006-154R, the City Council approved a Tax Abatement Agreement with <br />Genlyte Thomas Group, LLC ("Genlyte") covering a proposed expansion of their facility. Genlyte <br />has expanded their facility and increased the number of persons employed at the facility. <br />2. The Tax Abatement Agreement requires that Genlyte maintain a certain number of full <br />time equivalents working at their expanded facility. <br />3. Due to the downturn in the economy, Genlyte has been unable to employee the full <br />number of full time equivalents promised in the Tax Abatement Agreement. <br />4. Given the present economic conditions the City Council finds that it is in the best interest <br />of the City to amend the Genlyte Agreement to allow, for a period of one year, a twenty percent <br />decrease in the number of required full time equivalents. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br />PART 1. The terms and conditions of the Amendment to the Tax Abatement Agreement <br />between the City and Genlyte are approved and adopted. <br />PART 2. The City Manager, Rick Menchaca, is authorized to execute this Agreement. <br />PART 3. This Resolution is in full force and effect immediately upon its passage. <br />ADOPTED on the 2nd day of June 2009. <br />Susan Narvaiz <br />Mayor <br />Attest: <br />Sherry Mash rn <br />City Clerk