Title
1.)Executive Session Item: Deliberations regarding economic development negotiations pursuant to Chapter 551.087 of the Texas Government Code and consultation with legal counsel pursuant to Chapter 551.071 of the Texas Government Code regarding approving and restating the Economic Development Agreement for Arista Data Centers, LLC with the City of Pflugerville.
Summary
A discussion item has been included on the worksession agenda and an item for discussion and potential action has been included on the regular meeting agenda for this item. The City Council is expected to retire to executive session on the item for discussion regarding economic development negotiations pursuant to Chapter 551.087 of the Texas Government Code and consultation with legal counsel pursuant to Chapter 551.071 of the Texas Government Code. The purpose of this item is to restate the agreement and provide clarification for the infrastructure grant component in which the City agrees to construct Pfluger Farm Lane from its intersection with Pflugerville Parkway to 200 feet north of the southern most end of Arista’s 53-acre property tract. If Arista purchases less than 53 acres, any additional road, sidewalks and utilities to reach the Arista tract shall be at the sole cost of Arista. The proposed restated Economic Development Agreement document is attached to the regular meeting agenda item.
Status
A request for qualifications for engineering services has been drafted regarding the City's infrastructure grant obligations and is pending distribution.
Prior City Council Action
This agreement was approved by the City Council on June 12, 2012.
Fiscal Impact
As with the agreement approved on June 12, 2012 by the City Council, there is no fiscal impact to the City's existing budget as a result of this agreement. The agreement establishes:
- A facility grant equal to 75% of the ad valorem taxes paid for the value in excess of $100M.
- An infrastructure grant to construct Pfluger Farm...
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