23-R-129 EDC Incentive Development Agreement-EDC and Ripps-Kruesler, LTDRESOLUTION 23-R-129
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SCHERTZ
TEXAS AUTHORIZING AN EXPENDITURE AS REFLECTED IN AN
ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT BETWEEN
THE CITY OF SCHERTZ ECONOMIC DEVELOPMENT
CORPORATION AND RIPPS-KRUESLER, LTD 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 corporations to enter into performance agreements to establish and provide for the
direct incentive or make expenditures on behalf of a business enterprise under a project; 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 501.103 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, Company desires to construct a minimum of 100,000 square feet of retail
improvements (the "Project") located in Schertz, Texas; and
WHEREAS, Company requests reimbursement of adjoining property consisting of 150,000
additional square feet of combined retail space; and
WHEREAS, Company desires to construct and extend Ripps-Kruesler Rd (0.44 miles) and
additional public infrastructure improvements that include water, sewer, drainage as well as
associated intersections upgrades in Schertz, Texas; and
WHEREAS, The Ripps-Kruesler Rd. extension project is on the City of Schertz Master
Thoroughfare Plan and will increase traffic mobility, open up un-developed areas for public
roadway frontage and increase access to IH-35; and
WHEREAS, the construction of the Project, as proposed, will contribute to the economic
development of the City of Schertz by creating new jobs and increased employment, promoting
and developing expanded business enterprises, increased development, increased real property
value and tax revenue for the City of Schertz, and will have both a direct and indirect positive
overall improvement/stimulus in the local and state economy; and
WHEREAS, the Corporation desires to offer incentives to Company to enable Company to
construct the Project pursuant to this Agreement in substantial conformity with the City of Schertz
Economic Development Incentive Policy and the Act; and
WHEREAS, the Parties are executing and entering into this Agreement to set forth certain terms
and obligations of the Parties with respect to such matters; and
WHEREAS, the Parties recognize that all agreements of the Parties hereto and all terms and
provisions hereof are subject to the laws of the State of Texas and all rules, regulations and
interpretations of any agency or subdivision thereof at any time governing the subject matters
hereof; and
WHEREAS, the Parties agree that all conditions precedent for this Agreement to become a
binding agreement have occurred and been complied with, including all requirements pursuant to
the Texas Open Meetings Act and all public notices and hearings; if any, have been conducted in
accordance with Texas law; and
WHEREAS, on the Effective Date, the commitments contained in this Agreement shall become
legally binding obligations of the Parties; and
WHEREAS, Section 501.073 of the Act requires that the corporation's authorizing unit to approve
all programs and expenditures.
NOW, THEREFORE, in consideration of the mutual covenants, benefits and agreements
described and contained in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and further described herein, the Parties
agree as follows:
Section 1. The City of Schertz City Council hereby authorizes the expenditure
reflected in the Economic Development Performance Agreement attached hereto as
ATTACHMENT 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 L�y of ■ ��� , 2024.
AT
She a Edmonson, C ty Se retary
CITY OF SCHERTZ
- ;e
RaVutienU, Mayor