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 economic development negotiations regarding a Pflugerville Community Development Corporation (PCDC) economic development performance agreement with Project Base.
Summary
The City Council and PCDC Board 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 for legal advice concerning economic development. No action will be taken at the worksession. Action on the item will be considered during the regular meeting.
Discussion on an economic development performance agreement in the form of relocation grant with Project Base. Proposed terms are as follows: shall spend, or cause to be spent, at least $13,000,000 during the term of the agreement on the construction of the facility and related improvements to the facility and the land; and, shall hire or relocate a minimum of 107 full-time equivalent employees (an employee who performs a regular work schedule of at least thirty-five (35) hours per week in a primary job, referred to as “FTE”) to work at its Central Texas Operations as their primary work location no later than December 31, 2018. The average salary of FTEs shall be at least $43,000 per year, not including any offered health care benefits. Project Base shall offer all FTEs health care benefits.
Status
Unanimously approved by the PCDC Board on June 15, 2017.
Deadline for Action
N/A
Fiscal Impact
In the summary.
Staff Recommendation
Discuss only at the worksession. Action on the item to be considered at the regular meeting.
Drafter
Amy Madison
Executive Di...
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