Title
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 regarding multiple and various inter-related economic development agreements and contracts involving the Pflugerville Community Development Corporation (PCDC) and the City and others related to Project Wave aka Hawaiian Falls Water Park (contracts include but are not limited to the PCDC Performance, Construction, Leasing and Financing Agreements with Project Wave aka Hawaiian Falls Water Park; the PCDC purchase of real property for Project Wave aka Hawaiian Falls Water Park; related funding & finance agreements for the project; the City's Chapter 380 agreement(s) related to the project and the City's related obligations and economic incentives offered in the project. 2.) Open Session Item: Discuss and consider action to cancel previously approved and existing agreements and substitute new agreements to conform the agreements to new funding options; to approve all amended PCDC project documents and agreements; and to authorize the City Manager to execute all related and necessary documents for the project as approved as to form by the City Attorney's Office.
Summary
The 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 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
N/A
Fiscal Impact
To be determined.
Staff Recommendation
Discuss and take action as appropriate.
Drafter
George Hyde
City Attorney