Title
Consider a resolution authorizing the Mayor to execute a First Amendment to a Reimbursement Agreement with Williamson County and Williamson Central Appraisal District to reimburse certain litigation costs related to the Lakeside Apartments Round Rock, TX, LLC et al. v. WCAD lawsuit.
Body
The City previously entered into a Reimbursement Agreement with WILCO and WCAD for the reimbursement of litigation costs for the Lakeside Apartments Round Rock, TX, LLC et al. v. WCAD. Lakeside Apartments Round Rock is a Public Facility Corporation and has been denied tax exempt status by WCAD. The outcome of this lawsuit will greatly impact the City and WILCO therefore both previously agreed to reimburse WCAD for litigation costs in an amount not to exceed $100,000.00. The litigation costs have now exceeded $100,000.00 and this Amendment increases the cap to $175,000.00.
Cost: $75,000.00 (increases the cap to $175,000.00)
Source of Funds: General Fund