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 a proposed commercial lease agreement between Princess Craft Manufacturing Inc. and the Pflugerville Community Development Corporation (PCDC), and a proposed commercial lease agreement for sublease of the property between PCDC and Complete Energy Systems. 2.) Open Session Item: Discuss and consider action to approve a commercial lease agreement between Princess Craft Manufacturing Inc. and PCDC, and a commercial lease agreement for sublease of the property between PCDC and Complete Energy Systems.
Summary
This item has been included on the agenda to allow for discussion and potential action. The City Council is expected to retire to executive session on the item for 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. An executive summary is attached from Floyd Akers, PCDC Executive Director, as well as the two proposed agreements. Both agreements have been reviewed and approved as to form by the City Attorney. The agreements were approved by PCDC on August 2, 2012.
Prior City Council Action
None.
Deadline for City Council Action
There is no deadline for action on the item.
Fiscal Impact
There is no fiscal impact to the City on the item. The fiscal impact to the PCDC is described in the lease agreements.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
Trey Fletcher
Assistant City Manager