October 13, 2009,
Item 20

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>> number 20 is consider and take appropriate action on amendment of economic development agreement between Travis County and simon property group, inc.
marietta, what does this amendment do?

>> basically this is the amendment, the court has already had a constitution on this, but simon brought to us the fact that there are other entities other than simon who will be making -- monitoring investments in the project and who will be paying the property taxes related to the project.
and that the intent from the beginning was that all of that would be included in the numbers towards compliance of the agreement.
and this just clarifies that.
it was a little bit fuzzy in the agreement and this amendment clarifies that those numbers would be included towards compliance.

>> but the initial agreement covered a certain geographic area.

>> yes.
yes.

>> and the businesses would be located within that area.

>> it's all within that project.

>> but the ownership of some of those businesses has changed as the development occurred.

>> right.
but then simon is the entity that is responsible for gathering and certifying all the information from those different third parties to give us the information that the county has to have in order to confirm compliance.
so it's their ultimate responsibility to get the information to us but there may be payments made towards investments and towards property taxes by third parties.

>> questions or comments?

>> I move approval, judge.

>> second.

>> something that needed to happen so I move approval.

>> okay.
discussion of the motion?
all in favor?
that passes by unanimous vote.
it's looking more and more to me like we're ready for executive session.

>> do we want to do 21?

>> yes.

The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.

Last Modified: Tuesday, October 13, 2009 2:00 PM

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