R-13-12-19-G2 - 12/19/2013RESOLUTION NO. R -13-12-19-G2
WHEREAS, South Education - Texas LLC ("South") has expressed to the City of Round Rock
("City") its desire to locate an educational 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 South a §380.001 Program in exchange for South locating an
educational facility in 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.
0112.1304;00288331
RESOLVED this 19th day of December, 2013.
tki,
ALANMCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
EXHIBIT A
ECONOMIC DEVELOPMENT PROGRAM
The terms of the §380.001 Economic Development Program to be offered to South Education —
Texas LLC ("South") in exchange for South's locating an educational facility to the City of Round
Rock are as generally outlined below:
1. South's obligations:
1.1. South agrees to lease and occupy a building located at La Frontera, Round Rock, Texas,
(the "Facility").
1.2 South agrees to invest at least $3,000,000.00 in Facility improvements and personal
property.
1.3 South agrees to employ at least 38 initial full-time equivalent employees and to employ
an additional 17 employees over the term of the term of this Program.
2. City's obligations:
2.1 City shall, subject to South's satisfaction of its obligation to execute a lease for the
building and to employ the initial 38 employees, make an EIP to South in the amount of
seventy-five thousand dollars ($75,000). This initial EIP shall be made within thirty
(30) days after South has executed a lease for the Facility, and provided the City with a
Job Compliance Affidavit showing that it has employed at least 38 employees.
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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City of Round Rock
Agenda Item Summary
Agenda Number: G.2
Title: Consider a resolution adopting a Chapter 380 Economic Development
Program for South University.
Type: Resolution
Governing Body: City Council
Agenda Date: 12/19/2013
Dept Director: Steve Norwood, City Manager
Cost:
Indexes:
Attachments: Resolution
Department: City Manager's Office
Text of Legislative File 13-1015
South University will be leasing a facility from DAC Texas 1 for the purpose of locating an
education facility in the City of Round Rock. South agrees to invest money in facility
improvements and personal property. They also agree to employ at least 38 initial full-time
equivalent employees and to employ an additional 17 employees over the term of the
program.
In exchange for South University fulfilling it's obligations, the City will make an EIP to South
University in the amount of $75,000.
Approval
City of Round Rock Page 1 Printed on 12/17/2013