HomeMy WebLinkAbout10-24-2005-14.10 - Resolution - 10/24/2005RESOLUTION NO. 10-24-2005-14.10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS,
PROVIDING A DRAINAGE, CORRIDOR BEAUTIFICATION AND ECONOMIC
DEVELOPMENT PARTICIPATION AGREEMENT PURSUANT TO CHAPTER 380 OF THE
TEXAS LOCAL GOVERNMENT CODE TO SAHARA REALTY GROUP LTD.
WHEREAS, the City Council desires to beautify its University Drive Gateway Corridor through
implementation of the University Corridor Overlay District and development projects that further
the City's goal to enhance the Corridor; and
WHEREAS, the City may participate in oversizing drainage detention/retention to accommodate
regional detention pursuant to Chapter 9, Section 9, City of College Station Code of Ordinances;
and
WHEREAS, the City Council has developed an economic development program for the express
purpose of attracting new business and expansion of business and industry to the community; and
WHEREAS, the City Council is authorized by CHAPTER 380, TEXAS LOCAL GOVT. CODE, to
provide for grants of public money to promote local economic development and to stimulate
business in the City of 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 in an amount
not to exceed a total amount of $771,379.56 to be paid as specified in the
Drainage, Corridor Beautification, and Economic Development
Participation Agreement dated October 24, 2005, to SAHARA REALTY
GROUP LTD. for the purpose of assisting SAHARA REALTY GROUP
LTD. in the development of the University Town Center project and
associated regional retention/water feature improvements in College
Station.
PART 2: That the City Council is making this grant in light of SAHARA REALTY
GROUP LTD.'s commitment to provide capital investment as provided in
a Drainage, Corridor Beautification and Economic Development
Participation Agreement approved by the City Council on October 24,
2005.
Resolution No. 10-24-2005-14.10 Page 2
PART 4: That the City Council is hereby establishing this program or process or
grant of funds to promote the City of College Station's economy and
community aesthetics.
PART 5: That this resolution shall take effect upon execution of the Drainage,
Corridor Beautification and Economic Development Participation
Agreement.
ADOPTED this 24th day of October, A.D. 2005.
ATTEST:
CONN E HOOKS, City Secretary
APPROVED:
'"-Signed by Roxanne Nemcik
ti kApprcyeu
City Attorney
ofiegal/projects/ucs/resoucs.doc
6/20/2006
APPROVED:
LA(*C
RON SI IA, Mayor