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RESOLUTION NO. 2017-16R <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS CONSENTING TO THE ASSIGNMENT OF A <br />CHAPTER 380 ECONOMIC DEVELOPMENT INCENTIVE <br />AGREEMENT APPROVED BY RESOLUTION NO. 2015-93R, THAT <br />ORIGINALLY PROVIDED FOR INCENTIVES IN THE FORM OF A <br />PROPERTY AND SALES TAX REFUNDS NOT TO EXCEED $2,500,000 <br />OVER 10 YEARS, FROM TANGER PROPERTIES LIMITED <br />PARTNERSHIP TO TANGER SAN MARC, LLC, AN AFFILIATED <br />ENTITY; AUTHORIZING THE CITY MANAGER TO EXECUTE ANY <br />INSTRUMENTS CONSISTENT WITH THIS RESOLUTION AS MAY BE <br />NECESSARY TO CONFIRM THE CITY'S CONSENT; AND <br />DECLARING AN EFFECTIVE DATE. <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br />PART 1. The City Council hereby consents to the assignment of a Chapter 380 <br />Economic Development Incentive Agreement approved by Resolution No. 2015-93R, that <br />originally provided for incentives in the form of property and sales tax refunds not to exceed <br />$2,500,000 over 10 years, from Tanger Properties Limited Partnership to Tanger San Marc, <br />LLC, an affiliated entity. <br />PART 2. The City Manager is hereby authorized to execute any instruments <br />consistent with this resolution as may be necessary to confirm the City Council's consent. <br />PART 3. This resolution shall become effective immediately from and after its <br />passage. <br />ADOPTED on January 17, 2017. <br />John Thomaides <br />Mayor <br />Attest: <br />4, <br />Jamie', ee Case <br />City Crk <br />f,° <br />