HomeMy WebLinkAbout10-25-2004-03 - Resolution - 10/25/2004
RESOLUTION NO 10-25-2004-03
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COLLEGE STATION,
TEXAS, PROVIDING AN ECONOMIC DEVELOPMENT GRANT PURSUANT TO
CHAPTER 380 OF THE TEXAS LOCAL GOVERNMENT CODE TO QUORUM
EQUITIES GROUP L L C AS AN ECONOMIC DEVELOPMENT INCENTIVE
WHEREAS, the Cny Council has developed an economIc mcennve program for the
express purpose of attracting new bUSiness and expansion of business and IIldustry to the
community:
WHEREAS. the Cny Councllls 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; and
WHEREAS, the Cny Councllls actively seekmg 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 I' That the City Council hereby authorizes the grant of funds in
an amount not to exceed a total amount of $10,000.00 to be
paid as speCified In the Grant Agreement dated October 25,
2004. to QUORUM EQUITIES GROUP L L.c. for the
purpose of providing an incentive to QUORUM EQUITIES
GROUP L L.c. to develop a retail shopping center with an
upgraded f~ade elevation and site plan in College Station
subject to the terms of the Grant Agreement.
PART 2: That the City Council IS makmg this grant in light of
QUORUM EQUITIES GROUP L.L.C.'s commitment to
proVide capItal mvestment as provided in a Grant Agreement
dated October 25, 2004.
PART 4: That the City Council IS hereby estabhslung thIS program or
process or grant of funds to promote the City of College
Stallon's economy.
PART 5 That this resolullon shall take effect ImmedIately from and
after its passage.
ADOPTED by the CIty Council of the Cny of College Station, Texas, this 25 day of
October. A D. 2004
ATTEST.
APPROVED:
~ L{ 'd-.~
RON v11\, Mayor
~
CONNIE IiOOKS. CIty. ecretary
APPROVED
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