File #: 22-597    Version: 1 Name:
Type: Resolutions Status: Agenda Ready
File created: 5/16/2022 In control: City Council
On agenda: 6/7/2022 Final action:
Title: A Resolution that the City Manager be authorized to sign the 1st Amendment to the Chapter 380 Economic Development Program Agreement ("Agreement") between the CITY OF EL PASO and FLYZONE, LLC, to decrease the maximum, aggregated Grant payments due to the Applicant over the Term of the Agreement by 5 percent (from $162,863 to $154,720) as consideration for an approximate 5 percent reduction in the Minimum Investment required to be incurred by the Applicant (from $12,414,000 to $11,763,573). [POSTPONED FROM 05-24-2022]
Attachments: 1. DHS, Reso and 1st Amendment - FLYZONE LLC 5.24.2022, 2. CC 3 - FlyZone Amendment

CITY OF EL PASO, TEXAS

LEGISTAR AGENDA ITEM SUMMARY FORM

 

 

DISTRICT, DEPARTMENT, CONTACT INFORMATIOn:

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Details

District 8

Economic and International Development, Jessica Cordova, (915) 212-1626

Economic and International Development, Elizabeth Triggs, (915) 212-0094

 

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AGENDA LANGUAGE:

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Title

A Resolution that the City Manager be authorized to sign the 1st Amendment to the Chapter 380 Economic Development Program Agreement (“Agreement”) between the CITY OF EL PASO and FLYZONE, LLC, to decrease the maximum, aggregated Grant payments due to the Applicant over the Term of the Agreement by 5 percent (from $162,863 to $154,720) as consideration for an approximate 5 percent reduction in the Minimum Investment required to be incurred by the Applicant (from $12,414,000 to $11,763,573).

[POSTPONED FROM 05-24-2022]

End