Title
1.) 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 for legal advice concerning a Lease Agreement and Compromise and Settlement Agreement with Cortec Precision Sheet Metal, Inc. 2.) Open Session Item: Discuss and consider action regarding authorizing the Pflugerville Community Development Corporation (PCDC) to execute both a Lease Agreement and Compromise and Settlement Agreement with Cortec Precision Sheet Metal, Inc.
Summary
The City Council is expected to retire to executive session for 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. Action, if any, will be taken in open session.
Discuss and action regarding authorizing PCDC to execute a Lease Agreement for relocation of PCDC offices. Also discussion and action on a Compromise and Settlement Agreement between PCDC and Cortec Precision Sheet Metal, Inc. to resolve dispute.
On April 28, 2017, the PCDC board authorized the President of the Board of Directors to execute a Lease Agreement with Cortec Precision Sheet Metal, Inc.; and authorized the President of the Board of Directors to execute a Compromise and Settlement Agreement with Cortec Precision Sheet Metal, Inc.
Previous City Council Action
Approved initial Performance Agreement and City 380 Agreement with Cortec Precision Sheet Metal on March 11, 2014.
Deadline for Action
N/A
Fiscal Impact
None.
Staff Recommendation
PCDC recommends approval.
Drafter
Amy Madison
Executive Director