AGENDA CAPTION:
Title
Consider approval of Resolution 2019-23R, approving a third amendment to the term sheet attached to Resolution 2014-143 regarding the advisability of the improvements in the Whisper Public Improvement District for the purpose of extending the date by which construction of the public improvements must be completed by May 31, 2019 and creating Traffic Impact Analysis criteria for the development; and declaring an effective date.
Body
Meeting date: January 29, 2019
Department: City Manager's Office, Steve Parker, Assistant City Manager
Amount & Source of Funding
Funds Required: N/A
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Fiscal Note:
Prior Council Action: Detailed in the background information.
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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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Background Information:
In October, 2014 the San Marcos City Council approved resolution 2014-143R making finds as to the advisability of the improvements proposed in the Whisper Public Improvement District. The Whisper PID Term sheet consisted of the following highlights:
* 281 acre business park
* 296 acres of commercial land including a Master Retail and Commercial Center
* $14,360,000 Maximum Debt with $10,398,361 of actual construction costs to reimburse developer
* Building and Sit...
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