HomeMy WebLinkAbout24-2122 INCOMPLETEORDNANCE NO. 24-2122
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE
MUNICIPAL CORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A
TEMPORARY CONSTRUCTiON EASEMENT BETWEEN THE CITY AND CORE
SCIENTIFIC, INC., A DELAWARE CORPORATION; PROVIDING FOR AN EFFECTIVE
DATE
WHEREAS, the City and Core Scientific, Inc. (''Lessee”) entered into that certain Lease
Agreement, effective as of September 3, 2021 (the “Initial Lease”) pursuant to which Lessee
currently leases the Leased Premises (as defined in the Initial Lease) from the City; and
WHEREAS, the City and Core Scientific have agreed to terms and conditions
for Amendment Number 3 to the Initial Lease (“Amendment No. 3”) to enable conversion of
Core Scientific cryptocurrency operations to High performance Computing (“HPC”) in
support of artificial intelligence applications; and
WHEREAS, Construction activities to accomplish the conversion will begin upon approval
of Amendment No. 3; and
WHEREAS, Core Scientific, Inc. requires property adjacent to the HPC operation
to facilitate construction and temporary storage of construction materials; and
WHEREAS, the City Council further finds that granting temporary construction
easement to enable the construction of the HPC project is in the best interest of the customers
of Denton Municipal Electric,
NOW, THEREFOR, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The recitations contained in the preamble of this ordinance are incorporated
herein by reference as findings of the City Council.
SECTION 2. The City Council approves and authorizes the City Manager, or
their designee, and City Secretary, or their designee, to execute, attest and deliver,
respectively, the Temporary Construction Easement, attached as Exhibit “A“, with Core
Scientific, Inc.
SECTION 3. The City Council approves and authorizes the City Manager, or
their designee, to take such additional actions as the City Manager, or the designee, determines
to be necessary and advisable to continue to effectuate the purpose, terms, and conditions of
Temporary Construction Easement.
SECTION 4. This ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance was made by Gerard Hucispeth and seconded
by Brandon Chase McGee, the ordinance was passed and approved by the following vote
[7 0]
Aye
X
X
X
X
X
X
X
Nay Abstain Absent
Mayor Gerard Hudspeth:
Vicki Byrd, District 1 :
Brian Beck, District 2:
Paul Meltzer, District 3 :
Joe Holland, District 4:
Brandon Chase McGee, At Large Place 5:
Jill Jester, At Large Place 6:
PASSED AND APPROVED this the 19th day of November, 2024.
ZU///
GERARD HUDSPETH, MAYOR
ATTEST:
LAUREN THODEN, CITY SECRETARY
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APPROVED AS TO LEGAL FORM:
MACK REINWAND. CITY ATTORNEY