HomeMy WebLinkAboutRES 910553NESOLUTION NO. q10
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS9 APPROVING AN APPLICATTON FOR
FUNDING THROUGH THE TEXAS DEPARTMENT OF HOUSING AND
COINBIUNITY AFFAIRS TEXAS CAPITAL FUND REAL ESTATE GRANT
PROGRAM.
e .= I;l pill ii
OEM=
WHEREAS, financial assistance is needed to complete the relocation; and
WHEREAS, the City Council has found that this action implements Economic Development
rolicy 1 of the Century Plan - Policy Plan Element, which states: "The City of Georgetown sha�h
encourage diversified growth, promote opportunities to create jobs, broaden the tax base, and
minimize the impact of economic fluctuations"; and
WHEREAS, the City Council has found that this action is not inconsistent or in conflict with any
other Century Plan Policies, as required by Section 2.03 of the Administrative Chapter of the
Policy Plan;
NOW, THEREFORE, BE IT RESOLVED BY TUE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT.-
6-moomm
The facts and recitations contained in the preamble of this resolution are hereby found and
declared to be true and correct, and are incorporated by reference herein and expressly made a
part hereof, as if copied verbatim.
V141111MR
The City Council has reviewed and hereby approves an application for-
a zero -interest loan to Sierra Microwave Technology for B & L $330,000
Grant Administration 50,0041
Sierra
�10,5-53
Microwave Resolution No.
Page 1 of 2
The City Council has reviewed and hereby agrees to comply with all assurances executed in
connection with the application, and, if funded, the award.
N 0
The Mayor is hereby authorized and directed to act on the City's behalf in all matters pertaininV
to this application.
0I V
Fhe City Council has reviewed and hereby agrees not to participate in a pro ' inco
recapture and will return all program income to the State to be placed in a state)NZaemevolvi
loan fund to be used by the State to fund future economic development awards. By agreeingI is
this measure, the City understands that it will be eligible to receive as many Texas Capital Fu
and Governor's Special Assistance Fund for Small and Minority Businesses' awards per progra
year as it has eligible projects. This determination must be made at the time the original awa
is made and cannot be changed with subsequent awards for this program year or retroactively
subsequent program years.
0
. 0 ^ . 11 11 , I , ,
- - .
, # it # , ••
ATTEST:
rz
Elizabeth Gray
City Secretary
APPROVED AS TO FORM:
boil
Sierra Microwave Resolution No.
Page 2 of 2
TBE 0 RGETOWN:
CONNO
Mayor