R-2015-2608 - 6/11/2015 RESOLUTION NO. R-2015-2608
WHEREAS, Houghton Mifflin Harcourt Publishing Company, ("HMH") has expressed to the
City of Round Rock ("City") its desire to locate an office facility to 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 HMH a §380.001 Program in exchange for HMH 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.
0112.1504;00335974
RESOLVED this 1 lth day of June, 2015. J�
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ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
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EXHIBIT A
ECONOMIC DEVELOPMENT PROGRAM
The terms of the §380.001 Economic Development Program to be offered to Houghton Mifflin
Harcourt Publishing Company, ("HMH") in exchange for HMH's locating an office facility in the City
of Round Rock are as generally outlined below:
1. HMH's obligations:
1.1. HMH agrees to lease and occupy a majority of a building to be constructed in the La
Frontera shopping and office development, in Round Rock, Texas (the"Facility").
1.2 HMH agrees to invest at least $3,000,000 in Facility improvements and personal
property.
1.3 HMH agrees to employ at least 270 full-time equivalent employees in the Facility.
2. City's obligations:
2.1 City shall, subject to HMH's satisfaction of its obligation to execute a lease for the
office facility and to employ 270 employees,make the following EIP's to HMH:
Date Amount
April 1, 2017 $100,000.00
April 1, 2018 $100,000.00
April 1, 2019 $100,000.00
April 1, 2020 $ 50,000.00
3. The tern-is 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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