R-2019-0385 - 9/26/2019 RESOLUTION NO. R-2019-0385
WHEREAS, the City Council has determined that one of its priority goals is to encourage
economic development within the City of Round Rock; and
WHEREAS, Phlur Inc. ("Phlur") has expressed an interest in leasing a building located at 900
E. Old Settlers Boulevard, Suite 180, Round Rock (the "Facility"); and
WHEREAS, the Council wishes to promote economic development as contemplated by
Chapter 380 of the Texas Local Government Code whereby Phlur will lease and improve the Facility;
and
WHEREAS, Phlur intends to add at least 35 employees within five years of the occupancy of
the Facility; 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
encourage economic development within the City and will also meet the goals set forth in said
§380.001,Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,TEXAS,
That the City offers to Phlur a §380.001 Program whereby the City will grant certain Economic
Incentive Payments ("EIP's"), 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
0112.1902;00431512
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.
RESOLVED this 26th day of September, 2019.
CRAIG ORGA , Mayor
City of Round R k, Texas
ATTEST:
Me l Sp��nKs, t>TcX� ela'rk
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EXHIBIT A
ECONOMIC DEVELOPMENT PROGRAM
The terms of the §380.001 Economic Development Program to be offered to Phlur in exchange
for Phlur's lease of a building located at 900 E. Old Settlers Boulevard, Suite 180, Round Rock, Texas,
78664 are as generally outlined below:
1. Phlur's intentions and obligations:
1.1. Lease. Phlur intends to lease and occupy the building located at 900 E. Old Settlers
Boulevard, Suite 180, Round Rock, Texas.
1.2. Real Property Investment. Phlur agrees to invest at least $2,000,000 in the real estate
improvements to the Facility.
1.3. Business Personal Property Investment. Phlur agrees to invest at least $650,000 in
business personal property for the Facility.
1.4. Jobs. Phlur intends to create at least 35 new jobs within five years of its occupancy of
the Facility.
1.5. Compliance with regulations. Phlur agrees that it will comply with the City's
development approval processes and shall construct and install the improvements and
lease and operate the Facility consistent with City ordinances, development regulations
and requirements.
2. City's obligations:
2.1. Economic Incentive Payments. In consideration of Phlur's compliance with the
aforesaid intentions, the City agrees to grant annual Economic Incentive Payments to
Phlur in the amount of$25,000 per year for three years.
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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