HomeMy WebLinkAboutCity Council Resolutions (Resolution R-19-4445)-12/03/2019RESOLUTION R-19-4445
APPROVING A $100,000 ECONOMIC DEVELOPMENT GRANT
AGREEMENT TO CHICK-FIL-A, AND AUTHORIZING THE CITY
MANAGER TO EXECUTE THE AGREEMENT
WHEREAS, the City of Colleyville is authorized by Chapter 380 of the Texas
Local Government Code to provide economic development
incentives to support the expansion of local business activity,
employment, and development; and
WHEREAS, the City has conducted negotiations with Chick-fil-A in pursuit
of a significant new commercial development project; and
WHEREAS, the proposed development will enhance the tax base of the
City by generating approximately $3.5 million in sales
annually, which indicates an approximate sales tax revenue of
$70,000 annually to the City of Colleyville, thereby promoting
economic development in accordance with the City's Economic
Development Incentive Policy; and
WHEREAS, the grant funding is necessary to facilitate the redevelopment
of the current vacant site and enhancing the commercial
viability of the SH26 corridor; and
WHEREAS, the developer of the site has agreed to enhanced site
landscaping and building architecture in keeping with the
exceptional development standards of Colleyville; and
WHEREAS, the enhancement of the local economy is in the best interest
of citizens of the City; and
WHEREAS, this resolution is being passed in full accordance with all
requirements of State law, including but not limited to, the
Open Meetings Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT all matters stated hereinabove are true and correct and
incorporated herein as if copied in their entirety.
Sec. 2. THAT the City Council hereby authorizes and approves an
Economic Development Grant to Chick-fil-A, in the amount of
Resolution R-19-4445
Page 2 of 2
$100,000 per the Economic Development Grant Agreement
attached as Exhibit "A", and authorizes the City Manager to
finalize and execute the agreement.
Sec. 3. THAT this resolution is effective from and after the date of its
passage.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF 7 AYES, 0 NAYS AND 0 ABSTENTIONS ON THIS
THE 3RD DAY OF DECEMBER 2019.
Mayor Richard Newton
Aye Mayor Pro Tern Bobby Lindamood Aye
Place 1, Tammy Nakamura
Aye Place 3, Kathy Wheat Aye
Place 4, George Dodson
Aye Place 5, Chuck Kelley Aye
Place 6, Callie Rigney
Aye
ATTEST:
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Christine Loven, TRMC
City Secretary
OF COLLEYVILLE
Richard Newton
Mayor