HomeMy WebLinkAboutPR 19567: RESCINDING RESOLUTION NO. 16-010 Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO
Date: October 26, 2016
Subject: P. R. No. 19567; Council Meeting of November 1, 2016
ATTACHED IS PROPOSED RESOLUTION NO. 19567
RESCINDING RESOLUTION NO. 16-010 IN ITS
ENTIRETY AS IT PERTAINS TO ENTERING INTO AN
ECONOMIC INCENTIVE CONTRACT & LOAN
AGREEMENT BETWEEN THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND PURE RENEWABLES PORT
ARTHUR, LLC
P. R. No. 19567
10/21/2016 KVM
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION NO. 16-010 IN
ITS ENTIRETY AS IT PERTAINS TO ENTERING INTO AN
ECONOMIC INCENTIVE CONTRACT & LOAN
AGREEMENT BETWEEN THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
AND PURE RENEWABLES PORT ARTHUR, LLC
WHEREAS, per Resolution No. 16-010, the City Council of the City of Port Arthur
approved the City of Port Arthur Section 4A Economic Development Corporation ("PAEDC") to
enter into an Economic Incentive Contract & Loan Agreement (the "Agreement") with Pure
Renewables Port Arthur, LLC ("Pure Renewables") ; and
WHEREAS, Pure Renewables intended to process, treat and rejuvenate pre-consumer
textile waste into superior cotton fiber commodities at a manufacturing facility to be located at
the Port of Port Arthur in Port Arthur, Texas (the "Port"); and
WHEREAS, Pure Renewables has determined that they will not move forward with the
construction of their facilities in Port Arthur as the contracts they have acquired will require
more manufacturing space than the Port has to offer at this time; and
WHEREAS, the PAEDC Board of Directors at their special Board meeting of October
17, 2016, agreed to rescind the Agreement with Pure Renewables.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PORT ARTHUR,TEXAS:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That Resolution 16-010 is rescinded in its entirety.
Section 3. That a copy of the caption of this Resolution be spread upon the Minutes
of the City Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2016,
at a Meeting of the City Council of the City of Port Arthur, Texas, by the following vote:
AYES:
Mayor
Councilmembers
NOES:
Derrick Freeman, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Floyd Batiste, PAEDC CEO
APPROd ASO ORM:
Guy N. Goodson, PAEDC tt s m e
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APPROVED AS TO FORM:
I
/'
' A .fANI
Valecia R. Tiz"o, C{ Attorney
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