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<br /> 122 <br /> RESOLUTION 199:& 208 R <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br /> MARCOS, TEXAS, APPROVING THE TERMS AND CONDITIONS <br /> OF A TAX ABATEMENT AGREEMENT BETWEEN THE CITY OF <br /> SAN MARCOS AND THE GENL YTE GROUP, INC. FOR THE <br /> HADCO MANUFACTURING FACILITY; AUTHORIZING THE CITY <br /> MANAGER TO EXECUTE THE AGREEMENT AND DECLARING AN <br /> EFFECTIVE DATE. <br /> - RECITALS: <br /> 1. The City Council has adopted a policy on tax abatement and other economic <br /> development incentives. <br /> 2. Hadco, a- division of the Genlyte Group ("Genlyte") , is proposing to refurbish a <br /> building in San Marcos previously occupied by Wide-Lite to serve as a manufacturing <br /> facility, and has asked the City to consider granting a tax abatement and other economic <br /> development incentives related to the construction. <br /> 3. Genlyte wishes to enter into a tax abatement agreement with the City of San Marcos <br /> pertaining to this construction. . <br /> 4. The property on which the proposed construction will be located is eligible for tax <br /> abatement, and appropriate notice of this tax abatement agreement has been given to <br /> other taxing entities. <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br /> TEXAS: <br /> PART 1. That the attached tax abatement agreement between the City of San <br /> -. Marcos and Genlyte is found to satisfy all of the requirements of the City's "Policy on Tax <br /> Abatement and Other Economic Development Incentives for the City of San Marcos, <br /> Texas". <br /> PART 2. That the attached tax abatement agreement is found to satisfy all of the <br /> requirements of the Property Redevelopment and Tax Abatement Act, Chapter,312 of the <br /> Texas Tax Code. <br /> PART 3. That the recitals found in the preamble to this resolution are adopted in <br /> their entirety. <br /> PART 4. That the terms and conditions of the attached tax abatement agreement <br /> are approved and adopted. <br /> PART 5. That the City Manager of the City of San Marcos, Larry D. Gilley, is <br /> authorized to execute this agreement. <br /> PART 6. That this Resolution shall be in full force and effect from and after the date <br /> I of its adoption. <br /> f <br /> ! ADOPTED this 2ndday of December ,1996. <br /> ~--- <br /> ~~~~~ <br /> Attest: Mayor <br /> 4 wrv) sf 'l/h";.vJ <br /> .!änis K. Womack <br /> City Secretary <br />