HomeMy WebLinkAboutRES 920183 - Comm Dev Fund ContractRESOLUTION NO.
WHEREAS, the City of Georgetown entered into a contract with the Texas Department
of Housing and Community Affairs to make infrastructure improvements in support of Advanced
Custom Molders, Inc. (ACM); and
V91EREAS, ACM has requested the City of Georgetown reduce the number of retained
jobs committed in the contract;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS:
SECI'ION I The facts and recitations contained in the preamble of this resolution are
hereby found and declared to be true and correct, and are incorporated by reference herein and
expressly made a part hereof, as if copied verbatim. The City Council hereby finds that this
resolution implements Economic Development Policy 1 of the Century Plan - Policy Plan
Element, which states: "The City will encourage diversified growth and promote business
opportunities to create jobs, broaden the tax base and minimize the impact of economic
fluctuations" and further finds that the adoption of this resolution is not inconsistent or in conflict
w ith any other Century Plan Policies, as required by Section 2.03 of the Administrative Chapter
of the Policy Plan.
SECTION 2.The City Council authorizes a contract amendment request to be submitted
to the Texas Department of Housing and Community Affairs for the following proposed revision
to the Performance Statement regarding the number of permanent jobs required to be retained by
ACM:
As a result of this project, Contractor shall ensure that the Company retains one
hundred six (106) full-time equivalent permanent jobs prior to July 29, 1992, of
which sixty-one (6 1) or fifty-eight percent (58%) must be provided to low and
moderate income persons. A low -to -moderate income person is defined in the
Texas Community Development Program Project Implementation Manual
referenced in Section 16. In the event that the Company provides more than one
TCHCA/ACM Contract Amendment Resolution No. 91
Page 1 of 2 Pages
hundred six full-time equivalent permanent jobs, then fifty-one percent (51%) of
all jobs prior to July 29, 1992, must be provided to low and moderate income
persons.
SEC71ON 3. The Mayor is hereby authorized to execute, and the City Secretary to attest
thereto a contract with the Texas Department of Housing and Community Affairs on behalf of
the City of Georgetown.
I i i ! I I I � i I I I I I I
NOW 11191IN I I I ! I . I
R-MMIM, hi
77n�, or Me City 71Y n, Y exas,
on the 28th day of April, 1992.
ff. nnor, Mayor
_V
J\
Elizabeth Gray, City Secret*y
WMaiianne Landers Banks, City Attor�ney
TCHCA/ACM Contract Amendment Resolution No.
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