Title
Consider a resolution approving a Chapter 380 Economic Development Program for 200 E. Austin Ave., LLC.
Body
This item establishes and approves a Chapter 380 Economic Development Program for 200 E. Austin Ave. The program must be established and approved before the corresponding Chapter 380 Economic Development Agreement is considered.
In the program, it stipulates that the developer will construct an office building located at 200 E. Austin Ave., and will invest at least $700,000 in the construction of the building. In addition, the Developer will comply with the City's development process as well as construct certain real property improvements that are described in Exhibit B of the corresponding agreement.
In return, the City will waive all development fees related to the construction of the facility.