AGENDA CAPTION:
Title
Consider approval of Resolution 2020-230R, approving a Chapter 380 Economic Development Incentive Agreement with DBI San Marcos Property, L.P., providing incentives in the form of refunds of a percentage of real property taxes over three years for the development of approximately 174,515 square feet of space for lease to commercial and industrial users at 1551 Clovis Barker; authorizing the City Manager, or his designee, to execute said agreement; and declaring an effective date.
Body
Meeting date: October 20, 2020
Department: City Manager
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Vision San Marcos - A River Runs Through Us
Background Information:
Bearden Investments (DBI San Marcos Property, LP) intends to construct 3 separate speculative shell buildings at 1551 Clovis Barker Road in San Marcos. The estimated total square footage of the new buildings is 174,515; building 1 - 62,194, building 2 - 77,703, building 3 - 34,618. The $10,500,000 investment in real property will allow for the immediate availability of space for commercial, office, warehouse, and light industrial users to lease. ...
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