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MEMORANDUM
To:
From:
Date:
Subject:
Mayor, City Council, and City Manager
Mark T. Sokolow, City Attorney /,~.~4
August 24, 2007
P. R. No. 14227; Council Meeting of August 28,
2007
Attached is P. R. No. 14227 as it pertains to an
Amendment No. 1 to the Sales Tax Refund Agreement for a Retail
Center Development.
MTS:gt
Attachment
z.pr14227.memo
the retail center;
NOW THEREFORE,
OF PORT ARTHUR,
Section 1.
true and correct.
Section 2.
P. R. No. 14227
08/24/07 ts
RESOLUTION NO.
A RESOLUTION AS IT PERTAINS TO AN AMENDMENT
NO. i TO THE SALES TAX REFUND AGREEMENT FOR A
RETAIL CENTER DEVELOPMENT
WHEREAS, the City of Port Arthur and Port Arthur Holdings, III
entered into a Sales Tax Refund Agreement as authorized by
Resolution No. 07-010; and
WHEREAS, the City Council deems it in the best interests of
the public to enter into an Amendment No. 1 to the Sales Tax Refund
Agreement in substantially the same form as attached hereto as
Exhibit "A" as to facilitate the prompt remediation of the property
located at 8857 Highway 69 which will assist in the development of
and
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
TEXAS:
That the facts and opinions in the preamble are
That the City Manager is herein authorized to
execute Amendment No.1 to the Sales Tax Refund Agreement in
substantially the same form as denoted in Exhibit "A"
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., 2007, at a Meeting of the City Council of
z.pr14227
the City of Port Arthur, Texas, by the
Mayor
Councilmembers
following vote: AYES:
NOES:
ATTEST:
MAYOR
CITY SECRETARY
APPROVED AS TO FORM:
CITY ATTORNEY
APPROVED FOR ADMINISTRATION:
CITY MANAGER
z.pr14227
EXHIBIT r'A"
AMENDMENT NO. i TO
SALES TAX REFUND AGREEMENT
FOR RETAIL CENTER DEVELOPMENT
BETWEEN
THE CITY OF PORT ARTHUR AND PORT ARTHUR HOLDINGS III, LTD.
WHEREAS, pursuant to Resolution No. 07-010, the City of
Port Arthur and the Port Arthur Holdings, III entered into a
Sales Tax Refund Agreement in January 2007; and
WHEREAS, the City of Port Arthur has or will provide a
$9,882.58 incentive as denoted in Resolution No.07-219 for the
remediation of the property at 8857 Highway 69; and
WHEREAS, due to escalating remediation costs, Port Arthur
Holdings, III requests an additional incentive to remediate the
adjacent property located at 8857 Highway 69, which will enable
them to provide additional access and parking area as to locate
additional restaurants on the tracts described in Exhibits "A",
"B", or "C" of the Sales Tax Refund Agreement; and
WHEREAS, the additional incentive will be that the City
will refund up to ~ of the remediation costs, not to exceed a
total of $100,000, with said refund not to exceed $~0,000 per
year over the period thereof as noted in Section 2.02 of the
Sales Tax Refund Agreement.
NOW THEREFORE, it is herein agreed to between the City of
Port Arthur and Port Arthur Holdings, III as follows:
Port Arthur Holdings, III will remediate the property
located at 8857 Highway 69 to TCEQ Standards, no later
than June 1, 2009.
Once the remediation is completed, the City of Port
Arthur will refund ~ of the remediation costs, not to
exceed a total of $100,000, with said refund not to
exceed $10,000 per year over the period thereof as
noted in Section 2.02 of the Sales Tax Refund
Agreement.
z.Port Arthur Holdings III, Ltd. refund agreement amendment
The City of Port Arthur will make said refunds only
from the City portion of sales tax that is collected
with respect to the retail center as located in the
tracts described in Exhibits "A", "B", and "C", with
such further limitations as denoted in Section 2.01
and the other provisions of the Sales Tax Refund
Agreement approved by Resolution No. 07-010.
SIGNED AND AGREED TO on this the
, 2007.
day of
CITY OF PORT ARTHUR, a Texas Municipal
Corporation (the "City")
BY:
Name:
Title:
Stephen Fitzgibbons
City Manager
SIGNED AND AGREED TO on this the
, 2007.
day of
PORT ARTHUR HOLDINGS III, LTD.
BY:
Name:
Title:
President
z. Port Arthur Holdings III, Ltd. refund agreement amendment