Res 2006-016 - Laserfiche WebLink

Home Browse Search

73. RESOLUTION N0.2006- ~ 6 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS APPROVING A MASTER DEVELOPMENT AGREEMENT AND CONFERENCE CENTER LEASE AGREEMENT BETWEEN THE CITY AND JQH -SAN MARCOS DEVELOPMENT, LLC REGARDING THE HOTEL AND CONFERENCE CENTER PROJECT; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City Council adopted a Resolution on May 3, 2005 approving an Economic Development Incentives Policy as contemplated by Chapter 380 of the Texas Local Government Code. 2. The City and the John Q. Hammons Trust executed a Memorandum of Understanding for the development of a hotel and conference center project (the "Project") in November of 2004. 3. In July of 2005, the City and the Hammons Trust acquired a fifteen acre site (the "Project Site") at the intersection of IH-35 South and McCarty Lane for the Project. 4. Since the time the Project Site was acquired, the City and the Hammons Trust have been negotiating the terms of a Master Development Agreement and Conference Center Lease Agreement, and these documents are now approaching finalization. The agreements are with JQH -San Marcos Development, LLC, a company formed by the Hammons Trust to construct, own and operate the hotel and to operate the conference center. 5. The City Council wishes to approve the City's entering into a Master Development Agreement and Conference Center Lease Agreement with JQH -San Marcos Development, LLC, authorize and direct the City staff and the City's outside counsel to negotiate changes to and finalize the agreements, and authorize the City Manager to execute the agreements as changed and finalized by the City staff and the City's outside counsel. 6. The City's Economic Development Incentives Policy authorizes the City Council to waive development regulations if a development will make a unique or unequaled contribution to development or redevelopment efforts in the City of San Marcos, due to its magnitude, uniqueness to the community, or aesthetic quality. 7. The City Council has determined that the construction and operation of the Project on the Project Site will have significant economic development benefits to the community including generating additional tax revenue and enhancing employment opportunities within the City, and will make a unique or unequaled contribution to development or redevelopment efforts in the City of San Marcos, due to its magnitude, uniqueness to the community, and aesthetic quality, and therefore it is appropriate to waive certain provisions of the City's Land Development Code for the Project, and authorize waiver of certain standards and regulations for the Project by the City Manager, as described in Section 3.11 of the Master Development Agreement. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: PART 1. The City Council approves the City's entering into a Master Development Agreement and Conference Center Lease Agreement with JQH -San Marcos Development, LLC related to the Project. PART 2. The City Manager, Dan O'Leary, and the City's attorneys, Mark Taylor and Pete Broderick,