Title
1.) Executive Session Item: Discussions 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 concerning economic development negotiations regarding a Pflugerville Community Development Corporation (PCDC) economic development performance agreement with SISU Devices, a Texas Limited Liability Corporation for Project iRobot. 2.) Open Session Item: Discuss and consider action to approve a resolution authorizing a Pflugerville Community Development Corporation (PCDC) economic development performance agreement with SISU Devices, a Texas Limited Liability Corporation for Project iRobot
Summary
This item has been included on the regular meeting agenda to allow for City Council discussion in executive session regarding economic development negotiations pursuant to Chapter 551.087 of the Texas Government Code and legal counsel pursuant to Chapter 551.071 of the Texas Government Code. Action, if any, will be taken in open session.
Status
The PCDC board met in a regular session on April 21, 2016, conducted a public hearing and unanimously approved the performance agreement for Project iRobot.
The PCDC recommends approval of the Performance Agreement with Project iRobot which will provide incentives for Project iRobot to expand their current operating facility and workforce.
Deadline for City Council Action
N/A
Fiscal Impact
PCDC Budget Impact: $24,000 per fiscal year, with a maximum of up to $72,000 for a period of three years.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
George Hyde
City Attorney