HomeMy WebLinkAboutRes 2015-04-04 Q Seminole Anna Town Center AgreementCITY OF ANNA, TEXAS RESOLUTION NO. 2015-04-04 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA APPROVING AND AUTHORIZING A PROJECT AND RELATED INCENTIVE AGREEMENT FOR NEW ECONOMIC DEVELOPMENT WITH Q SEMINOLE ANNA TOWN CENTER, LP., THE ANNA COMMUNITY DEVELOPMENT CORPORATION, AND THE ANNA ECONOMIC DEVELOPMENT CORPORATION AND AUTHORIZING THE DISBURSEMENT OF FUNDS UNDER SAID AGREEMENT WHEREAS, the Anna Community Development Corporation (the "CDC") and the Anna
Economic Development Corporation ("EDC") desire to disburse funds in support of an
economic development project (the "Project") that will create and retain new jobs, and
that will result in new capital investment within the corporate limits of the City of Anna,
Texas ("City"); and
WHEREAS, the CDC and EDC have received a project proposal from Q Seminole Anna
Town Center, LP. who has represented that it will create and retain a significant
number of new jobs and that will result in new capital investment, all within the
corporate limits of the City; and
WHEREAS, the CDC and EDC have determined that it would be beneficial to the CDC
and EDC and to the City for the CDC and EDC to disburse funds for certain costs of the
Project provided that the promised jobs and capital investment are completed according
to the terms of the Agreement, as more specifically set forth in the Agreement; and
WHEREAS, the CDC and EDC have found that the Project will promote new or
expanded business development and that the expenditures of funds under the
Agreement are required or suitable for infrastructure and site improvements necessary
to promote or develop new or expanded business enterprises;
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF ANNA CITY COUNCIL:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
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Section 2 . Authority for Project, Agreement, and Expenditure The City of Anna City Council hereby authorizes and approves of the Project, and further authorizes the CDC and EDC's Board of Directors, subject to approval of the form and content by the CDC and EDC's legal counse l , to enter into an Incentive Agreement for New Economic Development with Q Seminole Anna Town Center, LP. ("Agreement") attached hereto as EXHIBIT A, incorporated herein for all purposes. The City Council further authorizes the Mayor to execute said Agreement to bind the City for the limited purposes expressly stated therein. PASSED AND APPROVED by the City Council of the City of Anna this 14th day of
April, 2015.
APPROVED: ATTEST:
Mike Crist, Mayor
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