18-R-52 - Performance agreement with SEDC and WRI LLCRESOLUTION NO. 18 -R -52
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SCHERTZ,
TEXAS AUTHORIZING A PROGRAM AND EXPENDITURES AS
PROVIDED FOR IN THE ECONOMIC DEVELOPMENT
PERFORMANCE AGREEMENT BETWEEN THE CITY OF SCHERTZ
ECONOMIC DEVELOPMENT CORPORATION (THE "SEDC ") AND
WR1, LLC (THE "COMPANY "); AND OTHER MATTERS IN
CONNECTION THEREWITH
WHEREAS, the Development Corporation Act of 1979, as amended (Section 501.001 Texas
Local Government Code, formerly the Development Corporation Act of 1979) (the "Act ") authorizes
a development corporation to fund certain projects as defined by the Act and requires development
corporations to enter into performance agreements to establish and provide for the direct incentive
or make an expenditure on behalf of a business enterprise under aproject; and
WHEREAS, Section 501.103 authorizes expenditures for certain infrastructure improvement
projects that are found by the board of directors to be required or suitable for infrastructure necessary
to promote or develop new or expanded business enterprises; and
WHEREAS, Section 501.158 of the Act requires an incentive agreement to provide at a
minimum for a schedule of additional payroll or jobs to be created or retained and capital
investment to be made as consideration for any direct incentives provided or expenditures made
by the corporation under the agreement and to specify the terms under which repayment must be
made if the business enterprise does not meet the performance requirements specified in the
agreement; and
WHEREAS, Section 505.159 of the Act requires that a corporation hold at least one public
hearing on the proposed project before spending money to undertake the project, the public hearing
was held on May 1, 2018; and
WHEREAS, the SEDC Board of Directors approved the Economic Development
Performance Agreement with WRI, LLC set forth on Exhibit A attached hereto and incorporated
herein between the SEDC, and WRl, LLC, pursuant to the Act, at the SEDC's Board of Directors
meeting on May, 1, 2018; and
WHEREAS, Section 501.073 of the Act requires that the corporation's authorizing unit to
approve all programs and expenditures of a corporation; and
WHEREAS, the SEDC has recommended that the City authorize the program and
expenditures associated therewith; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
SCHERTZ, TEXAS:
Section 1. The City Council hereby authorizes the program and expenditures as provided
for in the Economic Development Performance Agreement with WR1, LLC as set forth in Exhibit
A.
Section 2. The recitals contained in the preamble hereof are hereby found to be true, and
such recitals are hereby made a part of this Resolution for all purposes and are adopted as a part
of the judgment and findings of the City Council.
Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with any
provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions
of this Resolution shall be and remain controlling as to the matters resolved herein.
Section 4. This Resolution shall be construed and enforced in accordance with the laws of the
State of Texas and the United States of America.
Section 5. If any provision of this Resolution or the application thereof to any person or
circumstance shall be held to be invalid, the remainder of this Resolution and the application of such
provision to other persons and circumstances shall nevertheless be valid, and the City Council hereby
declares that this Resolution would have been enacted without such invalid provision.
Section 6. It is officially found, determined, and declared that the meeting at which this
Resolution is adopted was open to the public and public notice of the time, place, and subject matter
of the public business to be considered at such meeting, including this Resolution, was given, all
as required by Chapter 551, Texas Government Code, as amended.
Section 7. This Resolution shall be in force and effect from and after its final passage,
PASSED AND ADOPTED, this 1 st day of May, 2018.
CITY OF STZ. TEXAS
R. Carpenter, Mayor
ATTEST:
Brenda Denis, City Secretary
(CITY SEAL)
EXHIBIT A
ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENT
WRI, LLC