San Marcos City Council approved a Chapter 380 incentive agreement on first reading with Buc-ee’s LLC on Feb. 20.
By the numbers
The incentive agreement would refund Buc-ee's 50% of sales tax generated by the company over a 15-year term, provided Hays County also agrees to the refund, according to agenda documents. The city would however collect all property taxes generated by the development. Hays CISD will not provide any rebate as part of the agreement.
The city’s economic development board unanimously voted Dec. 18 to recommend the project and incentive to City Council, according to agenda documents.
About the project
The project would be a 74,000-square-foot family travel center located along I-35, south of Yarrington Road. The travel center would also be equipped with 120 fueling stations and space for electric vehicle charging.
According to agenda documents, plans for the travel center include bringing 200-225 more jobs to the area, and the company would donate $100,000 to the city’s community fund.
Quote of note
Stan Beard, Buc-ee’s director of real estate and development, said the council's initial approval was a big step forward and that they were excited.
“We think we’re [going to] be a big plus for the community. We can’t wait to get started,” Beard told Community Impact.
What's next?
The item will come back for a second and final reading at a future meeting.
