Title
Approving the First Amendment to Construction Loan Agreement, Promissory Note, Security Agreement, Disbursement Agreement and Performance Agreement among the Pflugerville Community Development Corporation, Capital One, N.A, the City of Pflugerville, Texas and Hawaiian Falls-Pflugerville LLC and authorizing the City Manager to execute same on behalf of the City of Pflugerville.
Summary
This item has been included on the agenda to allow for discussion and potential action on the item.
Previous City Council Action
The City Council took action on January 28, 2014 and February 11, 2014, to authorize the Pflugerville Community Development Corporation (PCDC) to borrow $23,500,00 for the construction of the Hawaiian Falls Water Park.
Deadline for Action
N/A
Fiscal Impact
As specified in the loan documents.
Staff Recommendation
Take action as appropriate.
Drafter
Floyd Akers
Executive Director/General Counsel, PCDC