Title
Executive Session Item: Discussion 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 regarding approving a Pflugerville Community Development Corporation (PCDC) Loan for approximately $23.5 million for Project Wave aka Hawaiian Falls Water Park. Open Session Item: Discuss and consider action to approve a PCDC Loan for approximately $23.5 million and to approve a resolution of the PCDC approving same.
Summary
This item has been included on the agenda to allow for discussion and potential action on the item. The City Council is expected to retire to executive session on the item for 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. Action, if any, will be taken in open session.
Deadline for Action
Council action was taken on this item on January 28, 2014. Additional action on the item will be considered on February 11, 2014.
Fiscal Impact
As specified in the loan documents.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
Brandon Wade
City Manager