AGENDA CAPTION:
Title
Consider approval of Resolution 2025-126R, concerning Project Cat Tree and approving a Chapter 380 Economic Development Incentive Agreement with Midway Development, LLC, providing incentives in the form of partial rebates of hotel occupancy and sales taxes over ten years for the construction of a full-service hotel in downtown San Marcos with a minimum capital investment by Midway of $40,000,000.00; authorizing the City Manager, or her designee, to execute the appropriate documents related to this agreement on behalf of the city; and declaring an effective date.
Body
Meeting date: July 1, 2025
Department: City Manager's Office
Amount & Source of Funding
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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
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
? Economic Development - Sports Tourism, Eco-Tourism, Retail Tourism & 13,000 year heritage
? Environment & Resource Protection - Choose an item.
? Land Use - Choose an item.
? Neighborhoods & Housing - 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)]
Downtown Master Plan
Background Information:
In 2023, Texas State University issued a Request for Proposal seeking a qualified developer to construct a full-service hotel on university owned property in downtown San Marcos. After reviewing submissions from several applicants, Texas State University selected Midway Development Group for this project...
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