HomeMy WebLinkAbout09-27-01-12.09b - Resolution - 09/27/2001RESOLUTION NO. 9-27-2001-12.09-b
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE
STATION, TEXAS, PROVIDING A GRANT TO THE ECONOMIC DEVEL-
OPMENT CORPORATION FOR UNIVERSAL COMPUTER SYSTEMS, INC.
(U.C.S.) FOR ECONOMIC DEVELOPMENT
WHEREAS, the City Council has developed the Business Center at College
Station for the express purpose of attracting new business and industry to the
community;
WHEREAS, the City of College Station is required by Section 272, TEXAS LocAL
GovT. CODE, to sell land for its fair market value;
WHEREAS, the City Council is authorized by Section 380, TEXAS LocAL GOVT.
CODE, to provide for grants of public money to promote local economic develop-
ment and to stimulate business in the City of College Station; and
WHEREAS, the City Council is actively seeking economic development prospects
and new jobs in College Station; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE
STATION, TEXAS:
PART 1: That the City Council hereby authorizes the grant of funds to the
Bryan -College Station Economic Development Corporation for the
purchase of approximately 16.681 acres of land for Universal
Computer Systems, Inc. (U.C.S.)
PART 2: That the City Council hereby determines the fair market value as
being $30,000 per acre. The City also finds that its investment is in
excess of $75,000 per acre.
PART 3: That the City Council is making this grant in light of U.C.S.' commit-
ment to provide gross payrolls in the amount of $2,345,600 by 2002,
$5,590,000 by 2003, and $9,232,000 by 2004 and capital investment
in the amount of $8,400,000 by 2002.
PART 4: That the City Council is hereby establishing this program or process
for grant of funds to promote the City of College Station economy
and economic development at the Business Center.
PART 5: That this resolution shall take effect immediately from and after its
passage.
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Resolution No. 9-27-2001-12.09-B
Page 2
PASS AND APPROVED on this 27th day of September , A.D.
2001.
ATTEST
CONNIE HOOKS, City Secretary
APPROVED:
APPROVED:
#ems.
cILHANEY, Mayor'
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