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.
Summary
The City Council and PCDC Board are 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. No action will be taken during the worksession. Action will be considered later during the regular meeting.
Discussion regarding authorizing the Pflugerville Community Development Corporation to execute a Lease Agreement for relocation of PCDC offices. Also to discussion on a Compromise and Settlement Agreement between the Pflugerville Community Development Corporation with 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
Discuss only at the worksession. Action on the item will be considered during the regular meeting.
Drafter
Amy Madison
Executive Director