10-23-97-6-i - Resolution - 10/23/1997q so[ution
RESOLUTION NO. 10-23-97-6-i
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 industt~ to the
WHEREAS, the City of College Station is required by Section 272, TEX~S 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
Economic Development Corporation for the purchase of approxi-
mately 31.853 acres of land for Universal Computer Systems, Inc.
Co.c,s.)
PART 2:
PART 3:
PART 4:
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.
That the City Coun~ is making this grant in light of U.C.S.' commit-
ment to provide gross payrolls in the amount of $2,519,000 by 1999,
and $11,558,000 by 2002.
That the City Council is hereby establishing this program or process
or grant of funds to promote the City of College Station economy
and economic at the Business Center.
PART 5:
That this resolution shall take effect irmnediately from and after its
passage.
Resolution No. 10-23-97-6-i
Page 2
ADOPTED by the City Council of the City of College Station, Texas, this 23rd
day of October, A.D. 1997.
APPROVED
ATTEST:
CONNIE HOOKS, City Secretary
LYNN McILHANEY, May/Or