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R-2026-135 - 5/28/2026 RESOLUTION NO. R-2026-135 WHEREAS, KR CC, Inc. and KR Acquisitions LLC (collectively"Assignor") entered into an Economic Program Development Agreement ("Agreement") with the City of Round Rock("City") and Round Rock Transportation and Economic Development Corporation on December 15, 2016; and WHEREAS, pursuant to Section 5.04 of the Agreement, the City pays to Assignor a monthly Economic Incentive Payment("EIP"); and WHEREAS, Saba II LLC ("Assignee") is the owner of a retail establishment, "The Last Bite" (the "Candy Store")that is a part of the Project as defined in the Agreement; and WHEREAS, pursuant to Section 5.04 of the Agreement, the City has paid EIP's to Assignor, consisting of certain City and State sales taxes associated with past sales generated by the Candy Store (the "Candy Store Past Sales Tax Receipts"); and WHEREAS, the Assignor desires for the City to make one or more payments to Assignee from future EIP's owed by City to Assignor, such payments being equal to all Candy Store Past Sales Tax EIP's paid to Assignor; and WHEREAS, pursuant to Section 5.04 of the Agreement, absent this Assignment, the City would continue to pay to Assignor EIP's consisting of certain City and State sales taxes associated with future sales generated by the Candy Store (the "Candy Store Future Sales Tax Receipts"); and WHEREAS,the Assignor desires for all Candy Store Future Sales Tax EIP's to be assigned to Assignee and paid by the City directly to the Assignee; and WHEREAS, pursuant to Section 6.10 of the Agreement, Assignor may assign all or part of its rights and obligations under the Agreement with the City's express consent, Now Therefore BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,TEXAS, 0112.20262 That the City Council hereby accepts the assignment of the Economic Development Agreement between KR CC, Inc. and KR Acquisitions LLC and the City of Round Rock and the Round Rock Transportation and Economic Development Corporation. That the Mayor is hereby authorized to execute,consent and acknowledge on behalf of the City, an Assignment of the Economic Development Agreement between KR CC, Inc. and KR Acquisitions LLC and the City of Round Rock and the Round Rock Transportation and Economic Development Corporation, a copy of said assignment being attached hereto as Exhibit"A"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. RESOLVED this 28th day of May, 2026. 1 AZ CRAfW6RdAN, Mayor City oeRoundlkock, Texas ATTEST: . a6'A"J ANN AN IN, City Clerk 2 EXHIBIT A ASSIGNMENT This Assignment ("Assignment") is entered into by and between KR CC, Inc. and KR Acquisitions LLC (collectively "Assignor") and Saba II LLC ("Assignee"). The above entities may be referred to herein as "Party" or "Parties" as the context may require. RECITALS WHEREAS, Assignors entered into an Economic Program Development Agreement ("Agreement") with the City of Round Rock ("City") and Round Rock Transportation and Economic Development Corporation on December 15, 2016; and WHEREAS, pursuant to Section 5.04 of the Agreement, the City pays to Assignor a monthly Economic Incentive Payment("EIP"); and WHEREAS,Assignee is the owner of a retail establishment, "The Last Bite"(the "Candy Store")that is a part of the Project as defined in the Agreement; and WHEREAS, pursuant to Section 5.04 of the Agreement, the City has paid EIP's to Assignor, consisting of certain City and State sales taxes associated with past sales generated by the Candy Store (the"Candy Store Past Sales Tax Receipts"); and WHEREAS, the Assignor desires for the City to make one or more payments to Assignee from future EIP's owed by City to Assignor, such payments being equal to all Candy Store Past Sales Tax EIP's paid to Assignor; and WHEREAS, pursuant to Section 5.04 of the Agreement, absent this Assignment, the City would continue to pay to Assignor EIP's consisting of certain City and State sales taxes associated with future sales generated by the Candy Store (the "Candy Store Future Sales Tax Receipts"); and WHEREAS, the Assignor desires for all Candy Store Future Sales Tax EIP's to be assigned to Assignee and paid by the City directly to the Assignee; and WHEREAS, pursuant Section 6.10 of the Agreement, Assignor may assign all or part of its rights and obligations under the Agreement with the City's express consent; NOW,THEREFORE, it is hereby agreed between the Parties as follows: I. ASSIGNMENT AND ACCEPTANCE 1.1. Assignor hereby assigns to Assignee all of its rights to that portion of the EIP's equal to the Candy Store Past Sales Tax Receipts and to Candy Store Future Sales Tax Receipts. 1.2. Assignor acknowledges and agrees that the City has already paid EIP's to Assignor that included Candy Store sales tax receipts. As such, Assignor consents to the City decreasing future payments to Assignor under the Agreement by the amount that the City pays Assignee pursuant to Sections 1.3 and 1.4. 1.3. Assignor agrees that City should make a payment to Assignee equal to all past City and State sales tax that were included in previous EIP's to Assignor. Such payment shall be made as and when amounts are otherwise payable to Assignor under the Agreement. 1.4. Assignor agrees that City should pay all future EIP's associated with the Candy Store sales tax receipts to Assignee. II. ACCEPTANCE OF ASSIGNMENT 2.1 Pursuant to the requirements of Section 6.10 of the Agreement, City gives its express consent and hereby accepts the assignment of the portion of the Assignor's rights set forth IN WITNESS WHEREOF, the above-named parties have caused this document to be executed on the dates provided below by their duly authorized agents to be retroactively effective as of the day of , 2026. [Signatures on the following page] ASSIGNORS KR CC,Inc. By: Todd Nelson, ,resident Date: April 29,2026 KR Acquisitions LLC By: ' Todd Nelson, reside t Date: April 29, 2026 ASSIGNEE Saba II LLC By: Todd Nelson, Managing 940ber Date: April 29,2026 Consent and Acknowledgement City of Round Rock By: Craig Morgan, Mayor Date: