City of Round Rock - File #: 2022-193

• File #: 2022-193
• Type: Resolution
• Status: Approved
• File created: 5/17/2022
• In control: City Council
• On agenda: 5/26/2022
• Final action: 5/26/2022
• Title: Consider a resolution approving the action of the Round Rock Transportation and Economic Development Corporation (Type B Corp) in approving an Amendment to the Economic Development Incentive Agreement with Ametrine, Inc.

Date	Ver.	Action By	Action	Result
5/26/2022	1	City Council	approve	Pass

Title

Consider a resolution approving the action of the Round Rock Transportation and Economic Development Corporation (Type B Corp) in approving an Amendment to the Economic Development Incentive Agreement with Ametrine, Inc.

Body

This agenda item is to request approval of the action taken by the Round Rock Transportation and Economic Development Corporation in amending an existing Economic Development Incentive Agreement with Ametrine, Inc. The Agreement requires Ametrine, Inc. to invest a minimum of $3,350,000 in Real Property Improvements and $5,300,000 in Business Personal Property and create 140 jobs at their facility located at 900 E. Old Settlers Blvd. over a 10-year period. The amendment allows the relocation of existing equipment to be included as a portion of the total Business Personal Property investment for a value appraised by the Williamson County Appraisal District. The amendment also includes a new capital investment and job creation schedule over the 10-year period and changes the scheduled economic incentives payment (EIP) of $345,000.00 to be made in five equal payments of $69,000.00 upon Ametrine, Inc. meeting the new terms and requirements of the contract. The agreement is performance-based and does include claw backs should Ametrine, Inc. not fulfill its contractual obligations.