AGENDA CAPTION:
Title
Consider approval of Resolution 2021-157R, approving a Chapter 380 Economic Development Incentive Agreement with Whisper Industrial 2019 QOZB, LLC, providing incentives in the form of refunds of a percentage of real and personal property taxes over three years for the lease of a minimum of 90,000 square feet of space at 1225 Fortuna Road to Cooperative Laundry, SMS, LLC for the location of a new regional robotic operated commercial laundry facility; authorizing the City Manager, or his designee, to execute said agreement; and declaring an effective date.
Body
Meeting date: August 17, 2021
Department: Economic Development
Amount & Source of Funding
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Funds Available: Click or tap here to enter text.
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Fiscal Note:
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City Council Strategic Initiative: [Please select from the dropdown menu below]
N/A
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☒ Economic Development - Fiscally Responsible Incentives for Economic Development
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☒ Land Use - Choose an item.
☐ Neighborhoods & Housing - Choose an item.
☐ Parks, Public Spaces & Facilities - Choose an item.
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☐ Core Services
☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The proposed Chapter 380 agreement will be included in the packet when available.
Council Committee, Board/Commission Action:
Economic Development San Marcos Board recommended approval on August 5, 2021 by vote of 8 - 1 (For: Couch, Kenworthy, Case, Dobbins, Ingalsbe, Lumbreras, Mock, Terwort. Against: Baker)
Alternatives:
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Recommendation:
Staff recommends approval.