RES 1472 06/25/2013 OF C/"T
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RESOLUTION NO. 14 7 2
A RESOLUTION BY THE COUNCIL OF THE CITY OF CIBOLO,
TEXAS, ADOPTING A PROGRAM UNDER TEXAS LOCAL
GOVERNMENT CODE CHAPTER 380; AND AUTHORIZING THE
CITY MANAGER TO EXECUTE AN AGREEMENT MADE PURSUANT
TO TEXAS LOCAL GOVERNMENT CODE CHAPTER 380 WITH
WAL-MART REAL ESTATE BUSINESS TRUST, REGARDING THE
GRANT OF CERTAIN TAX REBATES RELATING TO THE
DEVELOPMENT OF APPROXIMATELY 22.15 ACRES LOCATED AT
THE SOUTHWEST CORNER OF THE INTERSECTION OF
BORGFELD ROAD AND NORTH MAIN AS RETAIL DEVELOPMENT;
AND PROVIDING AN EFFECTIVE DATE
WHEREAS, Article III, Section 52-a of the Texas Constitution and Chapter 380 of the Texas
Local Government Code authorizes a local government to establish and provide for the
administration of one or more programs, for making loans and grants and providing personnel
and services of the municipality, to promote state or local economic development and to stimulate
business and commercial activity in the municipality; and
WHEREAS, under Chapter 380 of the Texas Local Government Code, City has adopted an
economic development program to promote local economic development and stimulate business
and commercial activity within the City limits; and
WHEREAS,Developer desires to build a retail development(hereinafter called the"Facility", as
defined in the Agreement attached hereto as Exhibit "A" on an approximate 22.15 acre tract of
real property, more fully described and depicted in the exhibits to the Agreement, and such real
property is located at the southwest corner of the intersection of Borgfeld Road and North Main
in Cibolo, Guadalupe County, Texas; (hereinafter called the "Property", as defined in the
Agreement); and
WHEREAS, the development of the Facility, as proposed, will contribute to the economic
development of the City by creating new jobs and increased employment, generating increased
development, increased real property value and tax revenue for the City, enhance public
infrastructure, and have both a direct and indirect positive overall improvement/stimulus in the
local and state economy; and
WHEREAS,the City desires to offer incentives to Developer to enable Developer to develop the
Facility pursuant to the Agreement attached hereto as Exhibit"A"; and
WHEREAS, the City and Developer are executing and entering into this Agreement to set forth
certain terms and obligations of the City and Developer with respect to such matters, including
any grant payment, rebate or other incentives made to Developer of certain City funds for
Developer's investment,construction and use of the Facility on the Property; and
WHEREAS, the Parties recognize that all agreements of the Parties hereto and all terms and
provisions hereof are subject to the laws of the State of Texas and all rules, regulations and
interpretations of any agency or subdivision thereof at any time governing the subject matters
hereof, and
WHEREAS, the Parties agree that all conditions precedent for this Agreement to become a
binding agreement have occurred and been complied with, including all requirements pursuant to
the Texas Open Meetings Act and all public notices and hearings; if any, have been conducted in
accordance with Texas law;
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CIBOLO,TEXAS:
Section 1. Findings. The foregoing recitals are hereby found to be true and correct and are
hereby adopted by the City Council and made a part hereof for all purposes as findings of fact.
Section 2. Authorization. The City Manager is hereby authorized to execute an
Agreement, substantially similar to Exhibit"A", and all documents necessary to accomplish the
purposes of this resolution, provided said Agreement is first fully executed by an authorized
representative of the Developer.
Section 3. Open Meetings. It is hereby officially found and determined that the meeting at
which this resolution was passed was open to the public as required and that public notice of the
time,place and purpose of said meeting was given as required by the Open Meetings Act, Chapt.
551, Tex. Gov't Code.
Section 4. Effective Date. This Resolution shall take effect upon its adoption..
APPROVED AND ADOPTED on this the 25'"day of June,2013.
1,i
'fer m
Mayor
Attest:
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Peggy Cimics
City Secretary