Title
Approving a resolution terminating an economic development agreement between the City of Pflugerville and Titus Systems L.P. d/b/a Co Com Cabling.
Summary
This item has been included on the agenda to allow the City Council to take action to terminate the attached economic development agreement. The agreement provided for the reimbursement of sales tax in consideration of the relocation of their business to the City of Pflugerville by July 1, 2008 and the creation of at least 75 jobs. The company made some effort to relocate to the City of Pflugerville but the creation of the jobs did not occur. During the past nine years $46.26 in city sales tax has been reported to the State Comptroller from Titus Systems. The agreement does not include termination provisions, so this resolution will provide official termination of the agreement.
Letters of notification were sent to the parties shown on the agreement in June 2017 requesting any additional information or concerns that they may have about this termination. City staff has not been contacted.
The resolution has been reviewed by the City Attorney.
Prior City Council Action
The City Council took action on May 13, 2008 to approve the economic development agreement.
Deadline for City Council Action
None.
Projected Future City Council Action
None.
Fiscal Impact
None.
Staff Recommendation
Approve the resolution terminating the economic development agreement between the City of Pflugerville and Titus Systems L.P. d/b/a Co Com Cabling.
Drafter
Lauri Gillam
Assistant City Manager