Title
Approving an ordinance on second reading with the caption reading: AN ORDINANCE OF THE CITY OF PFLUGERVILLE, TEXAS, APPROVING THE THIRD AMENDMENT TO THE DEVELOPMENT FINANCING AGREEMENT FOR REINVESTMENT ZONE NUMBER ONE, CITY OF PFLUGERVILLE, TEXAS; AUTHORIZING THE MAYOR TO EXECUTE SAID AMENDMENT; CONTAINING VARIOUS PROVISIONS RELATED TO THE FORGOING SUBJECT.
Summary
The effect of this ordinance is to amend the Development Finance Agreement to clarify the method and intent of the reimbursement audit procedures. The City Attorney has reviewed and approved the ordinance as to form.
Status
The TIRZ Board met on March 30, 2016 and approved the amendments and presented and included as an exhibit to this ordinance. The City Council approved the ordinance on first reading on April 12, 2016.
Deadline for City Council Action
None.
Fiscal Impact
There is no fiscal impact associated with the approval of this item.
Staff Recommendation
Staff recommends approval on second reading.
Drafter
Trey Fletcher, AICP
Assistant City Manager