HomeMy WebLinkAboutRES 910335#
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WHEREAS, the City of Georgetown, Texas ("City"), seeks to promote tourism,
convention activity, cultural activity, historic preservation and historical
Rctivities with the City; and,
WHEREAS, the Georgetown Palace Theatre,seeks to restore and renovate
the Palace Theatre building at 814 Austin Avenue and provide programs and events
which , will further enhance the City's tourism activities and become a major
tourist attraction for visitors to Georgetown; and,
WHEREAS, the City desires to enter into a Funding Agreement with the
Georgetown Palace Theatre, Inc., to assist in the further restoration and
renovation of the Palace Theatre building; paid out of the Convention & Visitors
Bureau Council Contingency Account No. 406-58, and that expenditures will be made
as documented invoices are received from the Palace Theatre,; and,
WHEREAS, the City Council has found that this action implements Econom'
Development Policy 2 which states: "The City will continue to promote
facilitate the development of the downtown as an economically viable compone
of the retail and business community. " and Policy 4 which states: The City wil
develop and promote the tourism industry in Georgetown." and Histor,
Preservation and Urban Design Policy 1 which states: The City will presery
protect and promote its prehistoric, historic and cultural resources."' of t
Century Plan - Policy Plan Element, and is not found to be inconsistent or
conflict with any other Century Plan Policies, as required by Section 2.03 of t
Administrative Chapter of r Plan;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMCIL OF THE CITY
GEORGETOM, TEM, THAT:
The facts and recitations contained in the preamble of this resolution
hereby found and declared to be true and correct, and are incorporated
reference herein and expressly made a part hereof, as if copied verbatim. I
The City approves the Funding Agreement with the Georgetown Palace Theatre,
providind' for, a $5,,000 krant and a $10,,000 loa�l which will be repaid
Palace Theatre Funding Agreement Resolution No.
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within three (3) years of the effective date, for assistance in the furt '
restoration and renovation of the Palace Theatre building at 814 Austin Av2"M
in Georgetown, Texas, to assist in the promotion of tourism, convention,
cultural and historical activity for the City. I
The Mayor is hereby authorized to execute this Funding Agreement, and the
City Secretary to attest.
THE CITY OF�RGETOWN:
W.H. Connor, Mayor
Elizabeth Gray, Secretary
Marianne Landers Banks, City Attorney
Palace Tbeatre 0uu8ing Agreement Resolution No.