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RESOLUTION NO. 2019-225R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT WITH KATERRA <br />CONSTRUCTION, LLC TO LOCATE AN AUTOMATED BUILDING <br />COMPONENT MANUFACTURING AND DISTRIBUTION FACILITY <br />WITHIN THE WHISPER PLANNED DEVELOPMENT DISTRICT (PDD") <br />LOCATED NEAR IH -35 AND YARRINGTON ROAD, WHICH <br />AGREEMENT PROVIDES INCENTIVES OVER TEN YEARS IN THE <br />FORM OF ANNUAL REFUNDS OF A PORTION OF NEW PROPERTY <br />TAXES GENERATED FROM THE FACILITY; GRANTING A VARIANCE <br />FROM THE PDD STANDARDS TO ALLOW PARKING FOR THE <br />FACILITY IN THE FIRST LAYER; RESCINDING A PRIOR CHAPTER <br />380 ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT WITH <br />THE COMPANY APPROVED BY RESOLUTION NO. 2018-184R; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE THE <br />AGREEMENT; AND DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />PART 1. The attached Chapter 380 Economic Development Incentive Agreement <br />with Katerra Construction, LLC (the "Agreement") is hereby approved. <br />PART 2. The City Manager, or his designee, is authorized to execute said MOU on <br />behalf of the City. <br />PART 3. That certain Chapter 380 Economic Development Incentive Agreement <br />approved by Resolution No. 2018-1848 is hereby rescinded. <br />PART 4. This resolution shall be in full force and effect immediately from and after <br />its passage. <br />ADOPTED on November 6, 2019. <br />Attest: <br />Jami Lee Case <br />qty Clerk <br />( 0&1-) <br />ane Hughson <br />Mayor <br />