HomeMy WebLinkAbout24-1383ORDINANCE NO. 24- 1383
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPAL
CORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE A LEASE WITH
SPRE DENTON TX, LLC FOR APPROXIMATELY 4 ACRES OF CITY-OWNED
PROPERTY LOCATED IN THE CITY AND COUNTY OF DENTON, TEXAS; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Denton ("City") owns the RD Wells Sub Station (SUB) and
property around it located in Denton, TX and owns certain real property at and around the SUB
(the “SUB Property”);
WHEREAS, SPRE Denton TX, LLC (“Lessee”), a provider of high efficiency computing
centers, wishes to enter into a lease with the City, pursuant to that certain Lease Agreement
attached hereto as Exhibit A and made a part hereof for all purposes (the “Lease”), for certain real
property located at the SUB Property consisting of one tract, being approximately 4 acres in the
City of Denton, Denton County, Texas (the “Leased Premises”);
WHEREAS, Lessee further wishes to develop a high efficiency computing center on the
Leased Premises and to enter into a Power Purchase Agreement for the purchase by Lessee from
City of electric power in support thereof (the “PPA”);
WHEREAS, the City Council finds it is in the public interest to enter into the Lease; NOW
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The findings and recitations contained in the preamble of this Ordinance are
incorporated herein by reference as true and as if fully set forth in the body of this Ordinance.
SECTION 2. The City Manager, or designee, is hereby authorized to execute the Lease
attached hereto as Exhibit A and made a part hereof for all purposes.
SECTION 3. The City Manager, or designee, is hereby further authorized to take any other
actions that may be necessary, appropriate or convenient to exercise the City’s rights and to
perform the City’s obligations under the Lease including, but not limited to, amending the Lease
to extend the term of the Lease for up to ten (10) additional years beyond the initial term in
accordance with the provisions of the Lease and contemporaneously and consistent with any
extension(s) of the PPA.
SECTION 4. This Ordinance shall become effective immediately upon its passage and
approval.
[Signatures to appear on the following page.]
The motion to approve this Ordinance was made by J,, A.1\a_J
and seconded by O.'n)"'- Ch,4 beav+The Ordinance was passed and approved by the
following vote U - b :' - - -- ' Aye Nay Abstain
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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:
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2 0 2 4 P A S S E D /If4bL INE 1:) /1111L P P R 1C) V E D this the J day of ASb ) \
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GERARD HUDSPETH, MAYOR
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ATTEST
LAU THODEN, CITY SECRETARYakmBY
APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
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