23-768 INCOMPLETEORDINANCENO. 23-768
AN ORDINANCE OF THE CITY OF DENTON, A TEXAS HOME-RULE MUNICIPAL
CORPORATION, AUTHORIZING THE CITY MANAGER TO EXECUTE AMENDMENTNUMBER ONE (1) TO THE LEASE WITH CORE SCIENTIFIC, INC., A DELAWARE
CORPORATION; PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City of Denton ("City") owns the Denton Energy Center (“DEC”) located
in Denton, TX and owns certain real property at and around the DEC (the “DEC Property”);
WHEREAS, the City and Core Scientific, Inc entered into a Lease Agreement for certain
real property located at the DEC Property consisting of two tracts, with Site One being an
approximately 19.064 acre tract located in the Moses H. Davis Survey, Abstract No. 377 and Site
Two being an approximately 1 1.256 acre tract located in the Moses H. Davis Survey, Abstract No.
377 and in the Johnson, Green, Myers, and Brummett Survey, Abstract No. 1699, all in the City
of Denton, Denton County, Texas (the “Leased Premises”) on September 3, 2021 ;
WHEREAS, the City and Core Scientific, Inc. have agreed to terms and conditions to the
first amendment to the Lease (Amendment No. 1) as Exhibit “A“ and incorporated herein for all
purposes; and
WHEREAS, the City Council further finds that Amendment No. 1 to the Lease is in the
best interest of the customers; 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,
Amendment No. 1 to the Lease, attached as Exhibit “A”, with Core Scientific, Inc.
SECTION 3. The City Council approves and authorizes the City Manager, or designee, to
take such additional actions as the City Manager, or designee, determines to be necessary and
advisable to continue to effectuate the purpose, terms and conditions of Amendment No. 1 to theLease
SECTION 4. A copy of Amendment No. 1 to the Lease, attached Exhibit “A”, shall be
available to the public for inspection and copying.
SECTION 5. This ordinance shall become effective immediately upon its passage and
approval.
The motion to approve this ordinance wasseconded by BrAn J , A eU, st hc Gee
the following vote LI - 1] :
made by 8rla.„. 'Be c k and
_, the ordinance was passed and approved by
AyeJ
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J
a
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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 :
Chris Watts, At Large Place 6:
PASSED AND APPROVED this the day of Ru3u Jl
GERARD HUDSPETH, MAYOR
ATTEST:
JESUS SALAZAR, CITY SECRETARY 1\11111101
APPROVED AS TO LEGAL FORM:
MACK REINWAND, CITY ATTORNEY
atign