AGENDA CAPTION:
Title
Consider approval of Resolution 2026-75R, approving a settlement agreement with Pecos Housing Finance Corporation under which the corporation's multifamily apartments in San Marcos, Kyle and Hays County will to be subject to ad valorem property taxes; authorizing the City Manager, or her designee, to execute the settlement agreement on behalf of the city; and declaring an effective date.
Body
Meeting date: May 5, 2026
Department: City Manager, City Attorney
Amount & Source of Funding
Funds Required: Click or tap here to enter text.
Account or Project Number (C = CIP funds): Click or tap here to enter text.
Funds Available: Click or tap here to enter text.
Account Name: Click or tap here to enter text.
Fiscal Note:
Prior Council Action: Click or tap here to enter text.
City Council Strategic Initiative: [Please select from the dropdown menu below]
Choose an item.
Public Safety, Core Services & Fiscal Excellence
Quality of Life & Sense of Place
Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Arts and Culture - Choose an item.
? Economic Development - Choose an item.
? Environment & Resource Protection - Choose an item.
? Housing + Neighborhoods - Choose an item.
? Land Use + Community Design and Character - Choose an item.
? Parks & Public Spaces + Health, Safety & Wellness - Choose an item.
? Transportation - Choose an item.
? Core Services
? Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
Choose an item.
Background Information:
Pecos Housing Finance Corporation is a corporation created by the City of Pecos, Texas for the purpose of developing multifamily apartments in cities outside of its municipal boundaries. The corporation opened up multiple apartment complexes in locations throughout the state, including in San Marcos and the City of Kyle.
The corporation sought tax-exempt for the apartmen...
Click here for full text