Title
Consider a resolution authorizing the Mayor to execute the Second Amendment to Economic Development Agreement with Stonemill Hospitality, LLC.
Body
This item is a request to for a second amendment the 380 Agreement between the City of Round Rock and Stonemill Hospitality, LLC, (Embassy Suites Hotel). The request is for a six-month extension of the current agreement that was executed on August 8, 2019.
The amended agreement will provide SHLLC an extension of six months, with a new targeted completion date of January 1, 2022, to meet the terms of section 4.2 as outlined in the original agreement. No other terms of the agreement will change.
Cost: N/A
Source of Funds: N/A