18-R-119 - Program expenditures for the Economic Development performance agreements between SEDC and Titan Lookout LLCRESOLUTION NO. 18 -R -119
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 TITAN LOOKOUT LLC (THE "COMPANY "); AND
OTHER MATTERS IN CONNECTION THEREWITH
WHEREAS, the Development Corporation Act of 1979, as amended (Section 501.001 et
seq, 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 corporation to enter into performance agreements to establish and provide
for the direct incentive or make an expenditure on behalf of a business enterprise under a project;
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 501.159 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 August 23, 2018; and
WHEREAS, the SEDC Board of Directors approved the Economic Development
Performance Agreement Schertz 125 — Lookout Road Intersection set forth on Exhibit A
attached hereto and incorporated herein between the SEDC, and the Company, pursuant to the
Act, and the SEDC's Board of Directors meeting on August 23, 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 THAT:
Section 1. The City Council hereby authorizes the SEDC President to execute and
deliver the Economic Development Performance Agreement Between the Schertz Economic
Development Corporation in substantially the form set forth on 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, and it is so resolved.
PASSED AND ADOPTED, this 28th day of August, 2018.
CITY OFRTZ, -TEXAS
Carpenter, Mayor
ATTEST:
Brenda Dennis, City Secretary
(CITY SEAL)
SCHERTZ LOOKOUT ,,F