Title
Approving a resolution amending the Articles of Incorporation of the Pflugerville Community Development Corporation to provide that all contracts for Economic Development Projects, Purchase or Sale of Real Property or contracts in excess of $50,000 must be approved by the City Council before the contract is executed by the officers of the Corporation.
Summary
The Pflugerville Community Development Corporation (PCDC) requests that Article VII of the Articles of Incorporation of the Corporation be amended to provide additional specificity related to contracts and expenditures to provide that contracts for economic development projects, purchase or sale of real property or contracts in excess of $50,000 require approval of the City Council prior to execution by the Corporation. This amendment would allow the Pflugerville Community Development Corporation to approve and execute all other agreements in accordance with their fiscal year budget which is approved by the City Council. Please find the attached letter from Mr. David Clay, President of the Pflugerville Community Development Corporation, making the request for amendment, along with a resolution for consideration and a red-line version of the proposed amended Articles of Incorporation.
Deadline for City Council Action
There is no deadline for action on this item.
Fiscal Impact
N/A
Staff Recommendation
Take action as desired.
Drafter
Floyd Akers, City Attorney/Interim PCDC Economic Development Director