Title
Approving an ordinance on second reading with the caption reading: AN ORDINANCE OF THE CITY OF PFLUGERVILLE, TEXAS CONVEYING 1.263 ACRES OF LAND IN THE CITY OF PFLUGERVILLE, TEXAS AT THE SOUTHEAST CORNER OF SH 130 AND KELLY LANE TO COSTCO WHOLESALE CORPORATION PURSUANT TO AN ECONOMIC DEVELOPMENT AGREEMENT AUTHORIZED UNDER CHAPTER 380 OF THE LOCAL GOVERNMENT CODE; AUTHORIZING THE CITY MANAGER TO EXECUTE A SPECIAL WARRANTY DEED; PROVIDING THAT THIS ORDINANCE SHALL BE CUMULATIVE; REPEALING ALL ORDINANCES TO THE EXTENT THEY ARE IN CONFLICT; PROVIDING FOR SEVERABILITY.
Summary
This ordinance provides for the contribution of the Detention Pond Land to Costco as referenced in Section 5.3 of the Economic Development Agreement.
Status
The City acquired the parcel from Terrabrook Falcon Pointe in December, 2016.
Prior City Council Action
The ordinance was approved on first reading on November 14, 2017.
Deadline for City Council Action
Action is requested on second reading on November 28, 2017.
Fiscal Impact
There is no fiscal impact associated with this ordinance.
Staff Recommendation
Staff recommends approval.
Drafter
Trey Fletcher
Assistant City Manager