Title
Consider a resolution authorizing the Mayor to execute an Agreement to Terminate Economic Development Program Agreement with Crow Group Series, LLC and all related documents.
Body
The City entered into an Economic Development Program Agreement on July 26, 2018, with Crow Group Series, LLC. The City and Crow Group Series, LLC now mutually desire to terminate the Economic Development Program Agreement. Crow Series Group, LLC agrees to convey to the City certain property described as Lot 5, Block A, CITY CENTRE BUSINESS PARK SECTION 3 in the City of Round Rock, Williamson County, Texas. In exchange, the City agrees to cancel and extinguish the note and debt payable to the City in the amount of $2,200,000.00 described in the Deed of Trust recorded as Instrument No. 2018077022 of the Official Public Records of Williamson County, Texas.