R-2017-4809 - 9/28/2017 RESOLUTION NO. R-2017-4809
WHEREAS, Medistar Round Rock Rehab, LLC, a Texas limited liability company
("Medistar") has expressed to the City of Round Rock ("City") its desire to construct a facility in
the City which will provide jobs and additional tax base to the City, and
WHEREAS, §380.001 Local Government Code provides that a municipality may
establish an economic development program ("Program") to promote local economic
development and to stimulate business and commercial activity in the municipality, and
WHEREAS, the City Council has determined that the Program described in Exhibit "A"
will meet the goals set forth in said §380.001 and will be of mutual benefit to both parties, Now
Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the City offers to Medistar a §380.001 Program in exchange for Medistar locating a
facility to the City, and
BE IT FURTHER RESOLVED
That the offer of the Program shall be as generally outlined in Exhibit "A" attached
hereto and incorporated herein for all purposes.
The City Council hereby finds and declares that written notice of the date, hour, place
and subject of the meeting at which this Resolution was adopted was posted and that such
meeting was open to the public as required by law at all times during which this Resolution and
the subject matter hereof were discussed, considered and formally acted upon, all as required by
the Open Meetings Act, Chapter 551, Texas Government Code, as amended.
0112.1704;00386068
RESOLVED this 28th day of September, 2017.
A a /
CRAAG MO VAN, Mayor
City of Rou Rock, Texas
ATTEST:
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SARA L. WHITE, City Clerk
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EXHIBIT A
ECONOMIC DEVELOPMENT PROGRAM
The terms of the §380.001 Economic Development Program to be offered to Medistar
Round Rock Rehab, LLC, a Texas limited liability company ("Medistar") in exchange for
Medistar's constructing a facility in the City of Round Rock are as generally outlined below:
1. Medistar's obligations:
1.1. Medistar agrees to construct a building containing 48,000 square feet and located
on real property owned by Medistar in Round Rock (the "Facility").
1.2 Medistar agrees to invest at least $17,000,000 in the construction of the Facility.
2. City's obligations:
2.1 City shall, subject to Medistar's satisfaction of its obligation to invest
$17,000,000 in the construction of a facility, make the following Economic
Incentive Payments to Medistar:
(1) Date Amount
30 days after Opening date $30,000.00
(2) Reimburse Medistar for roll back taxes, (if any) paid by Medistar to the
City.
(3) Waive all site preparation, construction permit, and inspection fees related
to the Facility, up to a maximum amount of$100,000,
(4) Fast track all permit and City certificate requests related to the Facility, at
no additional cost to Medistar.
3. The terms and provisions of this Program will be set out in more detail in the Economic
Development Program Agreement of even date herewith.
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