R-07-10-11-13D1 - 10/11/2007 RESOLUTION NO. R-07-10-11-13D1
WHEREAS, Accretech USA, Inc . ( "Accretech" ) is a leading
manufacturer of precision measuring and semiconductor manufacturing
equipment, and
WHEREAS, Accretech has expressed to the City of Round Rock
( "City") its desire to locate an Accretech Product Development and
Manufacturing Center in the City which will provide hundreds of new
jobs, and
WHEREAS, §380 . 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 §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 Mayor is hereby authorized and directed to offer to
Accretech a §380 . 001 Program in exchange for Accretech locating an
Accretech center 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" 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
0:\wdox\RESOLUPI\R71011D1.WPD/MC
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 11th day of Octobe ,
ELL, Mayor
AT ST:
C' y of Round Rock, Texas
CHRISTINE R. MARTINEZ, City Se retary
2
EXHIBIT A
The terms of the §380.001 Program to be offered to Accretech USA, Inc. in exchange for
Accretech's locating its precision measurement systems and semiconductor equipment manufacturing
facility("Facility") in the City of Round Rock are as generally outlined below:
1. The City agrees to make program payments to Accretech calculated on the basis of an
agreed upon portion of the property tax revenues actually received by the City and
generated by the Accretech Facility.
2. The term of the Program shall terminate on December 21, 2010.
3. The terms and provisions of the Program will be set out in more detail in the Economic
Development Program Agreement of even date herewith.
3
3.265 ac. , Corridor Park I, Lot 4B, a Replat of Lot 4
3500 Wadley Place
V
pdrk
r
veerla�n gl
'v
o�
DATE: October 4, 2007
SUBJECT: City Council Meeting - October 11, 2007
ITEM: 13D1. Consider a resolution adopting an Economic Development
program for Accretech USA, Inc.
Det)artment• Administration
Staff Person: David Kautz, Assistant City Manager/CFO
Joe Vining, V.P. Economic Development, Chamber of Commerce
Justification:
Accretech is a precision measurement systems and semiconductor equipment
manufacturer located in 44,000 sq. feet of manufacturing facility at 3500 Wadley
Place in Round Rock.
The Chamber Economic Development Office and the City have been developing an
economic development incentive program for the company in exchange for locating
here. The program proposes to rebate a portion of City property taxes paid over a
5-year period on new taxable value added by the company.
Funding:
Cost: N/A
Source of funds: N/A
Outside Resources:
Accretech USA
Background Information• N/A
Public Comment: N/A