Title
1.) Executive Session Item: Deliberations in accordance with Sections 551.072 of the Texas Government Code to discuss the value of real property. 2.) Open Session Item: Discuss and consider action approving a Pflugerville Community Development Corporation (PCDC) sales contract with Electronic Vision Systems, Inc. (dba EVS Metals, Inc.) to convey approximately 14.5 acres in the One Thirty Business Park for purposes of expansion, and approving the PCDC Board President to execute the same.
Summary
The PCDC Board approved this item by majority vote during a Special Called Meeting on June 2 (5-0) to sell approximately 14.5 acres of EVS Metals, business resident in Pflugerville for 23 years, for purposes of expansion in the City of Pflugerville. The PCDC has completed the extension of Impact Way, along with wet and dry utilities, to develop PCDC’s remaining 24-acres in the One Thirty Business Park in anticipation of the subdividing and selling the property for purposes of economic development projects. The contract terms provide for construction of a facility for EVS Metals’ manufacturing process to serve the semiconductor industry and to expand their business further.
Prior City Council Action
Approvals for development of the One Thirty Business Park land purchase and associated projects to include extension of Impact Way.
Deadline for City Council Action
June 27, 2023
Funding Expected: Revenue X__ Expenditure __ N/A __
Budgeted Item: Yes __ No X__ N/A __ Council approved funding for Impact Way Extension in FY22 / FY23 PCDC Budgets making this land sale possible.
Amount: $2,842,290.00 less closing costs
1295 Form Required? Yes __ No _X_
Legal Review Required: N/A __ Required YES__ Date Completed: June 1, 2023
PCDC Attorney reviewed prior to PCDC Board Approval on June 2, 2023
Supporting documents attached:
EVS Metals Land Purchase Agreement
Recommended Action
Staff/Board recommend approval