R-2018-6219 - 12/20/2018 RESOLUTION NO. R-2018-6219
WHEREAS, Chatsworth Products, a Delaware corporation ("Chatsworth") has
expressed to the City of Round Rock ("City") its desire to locate 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 Chatsworth a §380.001 Program in exchange for Chatsworth
locating an office 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.
0112.1804;00414448
RESOLVED this 20th day of December, 2018.
-4 A X",
CRAIG ORG , Mayor
City of Round R ck, Texas
ATTEST:
C& V&a
SARA L. RITE, City Clerk
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EXHIBIT A
ECONOMIC DEVELOPMENT PROGRAM
The terms of the §380.001 Economic Development Program to be offered to Chatsworth
Products, ("Chatsworth") in exchange for Chatsworth's locating a facility in the City of Round
Rock are as generally outlined below:
1. Chatsworth's obligations:
1.1. Chatsworth agrees to lease and occupy building located at 900 E. Old Settlers
Blvd, Round Rock, Texas (the "Facility").
1.2 Chatsworth agrees to invest at least $1,200,000 in Facility improvements and
personal property.
1.3 Chatsworth agrees to employ at least 40 full-time employees in the Facility.
2. City's obligations:
2.1 City shall, subject to Chatsworth's satisfaction of its obligation to execute a lease
for the office facility and to employ 40 employees, make the following EIP's to
Chatsworth:
Date Amount
April 1, 2020 $2500.00
April 1, 2021 $25,000.00
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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