File #: Res. 2024-208R    Version: 1 Name:
Type: Resolution Status: Individual Consideration
File created: 9/20/2024 In control: City Council
On agenda: 10/15/2024 Final action:
Title: Consider approval of Resolution 2024-208R, approving a Chapter 380 Economic Development Incentive Agreement with HEB, LP., under the City Council's open solicitation and offer of incentives to grocery stores to locate in the city that provides incentives for HEB to construct a new grocery store at the southeast corner of IH-35 and McCarty Lane in the form of refunds of a percentage of additional property and sales taxes generated by the new store over five years; authorizing the City Manager, or her designee, to execute said agreement; and declaring an effective date.
Attachments: 1. Resolution, 2. Project Jolly Rancher First Reading Presentation, 3. Exhibit A - Project Location, 4. HEB McCarty 380 Resolution
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AGENDA CAPTION:
Title
Consider approval of Resolution 2024-208R, approving a Chapter 380 Economic Development Incentive Agreement with HEB, LP., under the City Council's open solicitation and offer of incentives to grocery stores to locate in the city that provides incentives for HEB to construct a new grocery store at the southeast corner of IH-35 and McCarty Lane in the form of refunds of a percentage of additional property and sales taxes generated by the new store over five years; authorizing the City Manager, or her designee, to execute said agreement; and declaring an effective date.
Body
Meeting date: October 15, 2024

Department: City Manager's Office

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Fiscal Note:
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City Council Strategic Initiative: [Please select from the dropdown menu below]
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Economic Vitality
Quality of Life & Sense of Place

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.
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? Core Services
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Background Information:
On May 7th, 2024, Council voted to adopt a resolution supporting tax incentives for grocery store development. In August, HEB submitted a request for incentives citing this resolution as having a direct and material impact on their decision to construct another store in San Marcos. HEB is now...

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