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RESOLUTION NO. 2012- 33 R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS, APPROVING A CHAPTER 380 ECONOMIC <br />DEVELOPMENT INCENTIVE AGREEMENT BETWEEN THE CITY OF <br />SAN MARCOS, TEXAS AND HAYS COUNTY DEVELOPERS, LTD. <br />PROVIDING FOR AN ECONOMIC DEVELOPMENT INCENTIVE IN <br />THE FORM OF REFUNDS OF A PERCENTAGE OF AD VALOREM <br />TAXES ON NEW MEDICAL AND PROFESSIONAL OFFICE <br />BUILDINGS AT 1251 SADLER DRIVE OVER A PERIOD OF THREE <br />YEARS PER BUILDING AS FOLLOWS: 100 PERCENT FOR THE FIRST <br />BUILDING, 75 PERCENT FOR THE SECOND BUILDING AND 50 <br />PERCENT FOR THE THIRD BUILDING; AUTHORIZING THE CITY <br />MANAGER TO EXECUTE SAID AGREEMENT; AND DECLARING AN <br />EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The attached Chapter 380 Economic Development Incentives Agreement <br />between the City of San Marcos, Texas and Hays County Developers, Ltd. (the "Agreement ") is <br />hereby approved. <br />PART 2. The City Manager is authorized to execute the Agreement on behalf of the <br />City. <br />PART 3. This Resolution shall be in full force and effect immediately from and <br />after its passage. <br />ADOPTED on April 17, 2012. <br />&niel Guerrero <br />Mayor <br />Attest: <br />Jamie Lee Pettijohn <br />City Clerk <br />