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RESOLUTION N0.2008-44R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF A TAX ABATEMENT AGREEMENT <br />BETWEEN THE CITY AND CLOVIS BARKER BUSINESS <br />PARK, L.P., FORMERLY KNOWN AS BDI SAN MARCOS <br />PROPERTY L.P. FOR DEVELOPMENT OF A <br />DISTRIBUTION/WAREHOUSE FACILITY ON A 30.32 ACRE <br />TRACT OF LAND LOCATED ON CLOVIS BARKER ROAD; <br />AUTHORIZING THE INTERIM CITY MANAGER TO <br />EXECUTE THE AGREEMENT; AND DECLARING AN <br />EFFECTIVE DATE. <br />RECITALS: <br />1. The City Council has adopted an AEconomic Development Incentives Policy@ that <br />authorizes tax abatement agreements. <br />2. Clovis Barker Business Park, L.P. ("Owner") is proposing a development of a <br />distribution/warehouse facility on its property on a 30.32 acre tract of land located on Clovis <br />Barker Road, and has asked the City to consider granting a tax abatement and other economic <br />development incentives related to the expansion. <br />3. The City and Owner wish to enter into a tax abatement agreement pertaining to this <br />facility. <br />4. The property on which the proposed expansion will be located is eligible for tax <br />abatement, and appropriate notice of this tax abatement agreement has been given to other taxing <br />entities. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br />PART 1. The attached tax abatement agreement (the "Agreement") between the City and <br />Owner is found to satisfy the requirements of the City=s AEconomic Development Incentives <br />Policy@. <br />PART 2. The Agreement is found to satisfy all of the requirements of the Property <br />Redevelopment and Tax Abatement Act, Chapter 312 of the Texas Tax Code. <br />PART 3. The recitals found in the preamble to this resolution are approved and adopted <br />in their entirety. <br />PART 4. The terms and conditions of the Agreement are approved and adopted. <br />