HomeMy WebLinkAboutResolution No. 06-111
CITY OF THE COLONY, TEXAS
RESOLUTION NO. 06-jlL
A RESOLUTION OF THE CITY OF THE COLONY, TEXAS,
AUTHORIZING THE MAYOR TO ENTER INTO A FIRST
AMENDMENT TO THE AMENDED AND RESTATED
ECONOMIC DEVELOPMENT INCENTIVE AGREEMENT
DATED EFECTIVE OCTOBER 19, 2005 ENTERED INTO BY AND
BETWEEN THE COLONY ECONOMIC DEVELOPMENT
CORPORATION, THE CITY OF THE COLONY, AND JACKSON-
SHAW/CASCADES LIMITED PARTNERSHIP WHICH IS
ATTACHED HERETO AND INCORPORATED HERIN AS
EXHIBIT "A"; AUTHORIZING THE MAYOR TO EXECUTE THE
AMENDMENT
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF THE COLONY, TEXAS:
Section 1. That the City Council of the City of The Colony, Texas hereby
approves the amendment to the AMENDED AND RESTATED ECONOMIC
DEVELOPMENT INCENTIVE AGREEMENT for the purpose of extending the
Completion of Construction deadline setforth in Sections 3.4, 3.5, 3.6, & 3.7 of the
agreement shall be extended from 210 days (September 20, 2006) to 330 days (January
18,2007) due to delays beyond the control ofJackson Shaw.
Section 2. That a true and correct copy of the Amendment is attached hereto
and incorporated herein, as exhibit A.
Section 3. That the mayor is authorized to execute the Amendment on behalf
of the city.
Section 4. That this resolution shall take effect immediately from and after its
passage.
PASSED AND APPROVED by the City Council of the City of The Colony,
Texas, this 4th day of December, 2006.
ItS1:
L/I~.A-i Lv ~CV'-
Christie Wilson, TRMC, City Secretary
, .
October 24, 2006
VIA FEDERAL EXPRESS
Mr. Tom A. Terrall, Jr.
Director of Economic Development
The Colony Economic Development Corporation
6800 Main Street
The Colony, TX 75056
Re: First Amendment to the Amended and Restated Economic Development Incentive
Agreement ("Agreement") dated effective October 19, 2005, entered into by and
between The Colony Economic Development Corporation ("TCEDC"), the City of the
Colony ("City") and Jackson-Shaw/Cascades Limited Partnership ("Company")
regarding approximately 92 acres of land located at the northeast corner of State
Highway 121 and Morning Star Drive in the City of The Colony, Denton County, Texas
Dear Tom:
This letter, when executed in the space provided below, will constitute our amendment to the
Agreement. The defined terms used herein shall have the same meaning ascribed thereto in the
Agreement, unless otherwise expressly provided herein to the contrary. It is hereby agreed that
the Agreement shall be and is hereby amended as follows:
1. The Completion of Construction deadline setforth in Sections 3.4, 3.5, 3.6, 3.7 of
the Agreement shall be extended from 210 days (September 20, 2006) to 330
davs (Januarv 18.2007) due to the Force Majure delays stated in the Company's
letter dated September 13,2006.
This letter amendment may be executed in multiple counterparts and by facsimile signature.
Except as otherwise amended by this letter, the Agreement shall remain in full force and effect as
originally written.
Please evidence your agreement to the terms contained herein by signing this letter in the space
provided below and returning a fully executed copy to the undersigned.
Very truly yours,
Demian P. Salmon
Vice President - Development / Marketing
{Signatures on next page)
Executed on this
Executed on this
'1l'l
1; day of fDo li~{'(\_~be(
,2006.
THE COLONY ECONOMIC DEVELOPMENT
CORPORATION
By /~ I./O~
Nam~: Robert E. Norris .
Title: President
4- day of ~ ~2006.
Executed on this ~~day of ~-\.&h~~r
EDC. AmendmentLtr(2)
,2006.
JACKSON-SHAW/CASCADES LIMITED
PARTNERSHIP
By its general partner Jackson-Shaw Texas, Inc.
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