TO: Mayor and City Council
FROM: Beth Beatty, City Manager
SUBJECT:
title
Resolution Authorizing the Execution of a Second Amended Sales Tax Incentive Agreement for Supermercados El Guero Inc. at 118 E. Jackson Street
end
BACKGROUND:
In 2019, the city council approved a sales tax incentive agreement for El Guero on Jackson Street; the Agreement required the business to be open by the end of March 2023. Unexpected delays necessitated a one year extension; that deadline expires on March 31, 2024. The developer has requested another extension.
The developer is confident that the business will be open by the end of June. The proposed amendment extends the deadline for six months and expires on September 30, 2024. All other terms and conditions remain the same.
RECOMMENDATION:
recommendation
It is recommended that the Mayor and City Council approve this Resolution approving the execution of a Second Amended Sales Tax Incentive Agreement for Supermercados El Guero at 118 E. Jackson Street.end