CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
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Details
District 1
Economic and International Development, Bill Allen, (915) 212-1619
Economic and International Development, Karina Brasgalla, (915) 212-0094
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AGENDA LANGUAGE:
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Title
Discussion and action on a Resolution authorizing the City Manager to sign a Chapter 380 Economic Development Program Agreement (“Agreement”) by and between CITY OF EL PASO (“City”) and EATON Corporation, an Ohio Corporation (“Applicant”) in support of a development project located at 1 Helen of Troy Dr., El Paso, TX 79912. The project includes the construction or renovation of a development located on the Applicant’s real property. The Development is described in Exhibit B of the agreement, which is attached and incorporated for all purposes. The Agreement requires the Applicant to make a minimum investment of $70,000,000. Over the term of the Agreement, the City shall provide economic incentives not to exceed $3,391,000 in the form of a Property Tax Rebate; a Development Fee Rebate; a Construction Materials Sales Tax Rebate; and Skills Training Grant.
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