R-94-03-24-13A - 3/24/1994KS /RESOLUTION
RS03244A
RESOLUTION NO. , 1 r 9 4 0 3 0 2 4 / 3 A
WHEREAS, AMP Packaging Systems, Inc. ( "AMP ") is a rapidly
growing company, and
WHEREAS, AMP is in need of expanding its facilities to
accommodate its expected continuing growth, and
WHEREAS, 5380.001 Local Government Code provides that a
municipality may establish a 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
5380.001 and will be of mutual benefit to both parties, Now
Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS, THAT
The Mayor is hereby authorized and directed to offer to AMP a
5380.001 Program in exchange for AMP expanding its facilities in
the City of Round Rock, and
BE IT FURTHER RESOLVED, THAT
The offer of the Program shall be as generally outlined in
Exhibit A which is attached hereto and incorporated herein, and
RESOLVED this 24th day of March, 1994.
ie
CHARLES CULPEPPE , /Mayor
City of Round Rock, Texas
ATTEST:
E
LAND, City Secretary
2.
EXHIBIT A
The terms of the §380.001 Program to be offered to AMP in
exchange for AMP expanding its facilities in the City of Round Rock
are as generally outlined below:
1. The CITY agrees to share with AMP the proceeds of the
CITY'S ad valorem tax collected by the CITY on property
owned or leased by AMP at the expansion site as follows:
KSIRESOLIMON
RSAMP -A
a) For 1994, AMP will receive
ad valorem tax payment.
b) For 1995, AMP will receive
ad valorem tax payment.
c) For 1996, AMP will receive
ad valorem tax payment.
December 31, 1993
December 31, 1994
December 31, 1995
December 31, 1996
a refund of 95% of the
a refund of 90% of the
a refund of 85% of the
2. In addition to expanding its facilites, AMP agrees to
maintain the following full -time employees.
248
391
475
540
3. The CITY will devote the necessary personnel to AMP'S
project to assure that it is permitted and constructed in
the least amount of time as is possible.
458/26
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Date: March 22, 1994
Subject: City Council Meeting, March 24,1994
Item: 13.A Consider a resolution establishing the terms of incentive
package for AMP pursuant to Section 380.001 of the Local
Government Code.
Staff Resource
Person:
Joe Vining
Recommendation: Approval
Staff will make a presentation at the meeting.