Title
Executive Session Item: 1) 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 City of Pflugerville economic development agreement for Project Arista, a reimbursement and refund agreement between the City and PCDC for interim principal and interest payments for infrastructure related to Project Arista, and a performance agreement between the PCDC and Project Arista. Open Session Item: 2) Discuss and consider action regarding a City of Pflugerville economic development agreement for Project Arista, a reimbursement and refund agreement between the City and PCDC for interim principal and interest payments for infrastructure related to Project Arista, and a performance agreement between the PCDC and Project Arista.
Summary
This item has been scheduled on the agenda to allow for discussion and potential action on the item. The City Council may retire to executive session on the item pursuant to Chapters 551.087 and 551.071 of the Texas Government Code. Action, if any, will be taken in open session.
Status
The economic development agreement between the City and the project remains in negotiation at this time. The reimbursement agreement between the City and the PCDC is also in negotiation at this time. The PCDC performance agreement for the project has been approved by the PCDC and requires the consent of the City Council for final approval. The performance agreement is attached.
Deadline for City Council Action
N/A
Fiscal Impact
To be determined.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
Trey Fletcher, Assistant City Manager