Title
Executive Session Item: Discussion regarding deliberations on 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 for legal advice regarding approving a Pflugerville Community Development Corporation (PCDC) Loan for approximately 23.5 million dollars for Project Wave aka Hawaiian Falls Water Park. Open Session Item: Discuss and consider action to approve a Pflugerville Community Development Corporation (PCDC) Loan for approximately 23.5 million dollars and to approve a Resolution of the Pflugerville Community Development Corporation (PCDC) approving same.
Summary
This item has been included on the agenda to allow for discussion and potential action on the item.The City Council is expected to retire to executive session on the item for deliberations on 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. Action, if any, will be taken in open session.
Deadline for Action
Action will be considered on January 28, 2014.
Fiscal Impact
As specified in the loan documents.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
Brandon Wade
City Manager