SUBJECT
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Authorizing the City Manager to update and execute a Chapter 380 economic development performance agreement set forth in City Council Resolution 2022-R-050 and as amended in Resolution 2024-R-016, pursuant thereto with UNIMEX. UNIMEX is requesting a revision to Year One and incentive cap to the approved Chapter 380 Economic Development Grant Agreement set forth in City Council Resolution to reflect the addition of 170,000 square feet and the increase of $14,000,000.00 in capital investment.
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PREVIOUS COUNCIL ACTION
City Council approved a 10-Year Chapter 380 agreement to UNIMEX based on a $28,000,000 investment with a $1.1M cap.
BACKGROUND
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COMMITTEE RECOMMENDATION
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STAFF RECOMMENDATION
recommendation
Approval of this amendment.
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Fiscal Impact
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Change Order: Exceeds 25% Y/N: Click or tap here to enter text.
FINANCIAL IMPACT:
No immediate impact.