CONSTRUCTION, FUNDING, AND DEVELOPMENT AGREEMENTConstruction, Funding, and Development Agreement • May 5th, 2020 • Texas
CITY COUNCIL COMMUNICATIONConstruction, Funding and Development Agreement • February 19th, 2016
SUBJECT: Construction, Funding and Development Agreement by and Between the City of Euless, the Board of Directors of Tax Increment Reinvestment Zone Number Four and the CADG 901 AIRPORT FREEWAY, LLC SUBMITTED BY: Loretta Getchell, City Manager REFERENCE NO: ACTION REQUESTED: Consider authorizing the Mayor to negotiate and execute an amended Construction, Funding and Development Agreement (CFDA) by and between the City of Euless, the Board of Directors of Tax Increment Reinvestment Zone Number Four (the “TIRZ”) and CADG 901 AIRPORT FREEWAY, LLC and rescinding the Agreement as approved on January 26, 2016. ALTERNATIVES: Table the request Deny the request SUMMARY OF SUBJECT: Staff is recommending that the CFDA as approved by City Council on January 26th be rescinded and that the Mayor be authorized to negotiate and execute an amended Agreement. Subsequent to the approval, staff and the developer have continued discussions about the terms of the Promissory Note that
