Travis County Commssioners Court
August 26, 2003
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Item 32
And back up to number 32, consider request from endeavor real estate group, llc, for financial incentives on the domain development project and take appropriate action.
>> there are a couple of changes, nothing really substantive to the contract from what you saw last week. One, we took out the attachment f, which was a reimbursement schedule which really because of the discount, the schedule was inaccurate and you couldn't create a schedule that would be accurate. So we reworded section 7.1 to reflect that that discount schedule will be applied each year. So that at whatever point the discount schedule equaled the five million in $2,003, that's the end of the county's obligation. So there won't be a schedule and the language in 7.1 which changed to just clarify what the parties had already agreed on. There was an addition made, section 5.9.3, just clarifying that the company would only have to maintain the records and reports that we've requested for three years beyond the termination of the equipment or however long it took if there were any litigation audit issues, anything like that, those would be resolved.
>> sound like a records retention schedule.
>> yeah, that we usually include and just doest have in there. We put in the property description, the actual content of the attachments, and we added a couple of additional lines for recording on attachment d, which is the report form, which will show us each year that discounted rate. So we'll have a cumulative thing showing the amount of the reimbursement and then that amount, what it has that relates to the five million.
>> did we share those minor changes with mr. Armbrust?
>> yes. I e-mailed back and forth with him yesterday and this morning. And they're ready to sign the agreement.
>> they're satisfied with it?
>> yes, very much so. We worked with them and christian last Friday basically to get all these changes made, and everyone had signed off on them.
>> mary, the one last thing, just make sure it's in here, we had gotten to a place related to if they ever fell below the 750 on jobs that there would be i'll call it a suspension benefit there. It didn't mean that it went away, but during that time period until they got back up above 750, could you point that out as to where --
>> I'm going to check that out and make sure it got in there. If not, we will do that.
>> because that was one of the things that -- once you met the 100 million, that was it. The housing thing, it just stayed vacant to make sure that that piece is done. But on the jobs, you couldn't drop below 750.
>> yes. That's on 8.3. There's a, b, c and d and then there are three paragraphs. And that last paragraph is where you had the reimbursement would be suspended until those minimum requirements were met.
>> got it.
>> on move approval of the cleaned up document.
>> second.
>> any more discussion? All in favor? That passes by unanimous vote. So that does it for those two, right?
>> yes.
>> don't need it again next week?
>> no.
>> or ever.
>> the only thing that would come back is if they present a proposed amend for a phasing plan, then that would come back to the court.
Last Modified: Wednesday, August 27, 2003 7:52 AM