2006-220
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S:\Our Documents\Ordinances\06\SFT Industrial.doc
ORDINANCE NO. .2()Ob- ,L20
AN ORDINANCE OF THE CITY OF DENTON AUTHORIZING AN AMENDMENT TO
THE ECONOMIC DEVELOPMENT PROGRAM GRANT AGREEMENT BETWEEN SFT
INDUSTRIAL, LTD. AND THE CITY OF DENTON; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, on March 1,2005 the City and SFT Industrial, Ltd. ("Granite") entered into
an Economic Development Program Grant Agreement ("Agreement") authorized by Ordinance
No. 2005-084; and
WHEREAS, the City Council of the City of Denton hereby finds that an Amendment to
the Agreement between the City and Granite, attached hereto and made a part hereof by
reference (the "Amendment) serves a municipal and public purpose and is in the public interest;
NOW, THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION I. The findings set forth in the preamble of this Ordinance are incorporated
by reference into the body of this Ordinance as iffully set forth herein.
SECTION 2. The City Manager, or his designee, is hereby authorized to execute the
Amendment to the Agreement and to exercise all rights and carry out the duties and
responsibilities of the City of Denton under the Amendment to the Agreement, including the
expenditure of funds as provided in the Amendment.
SECTION 3. This Ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the /d dayof a~jld;t ,2006.
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ATTEST:
JENNIFER WALTERS, CITY SECRETARY.
By~",...J h WI\. ~'cA/
APPROVED AS \0 LEGAL FORM:
EDWIN M. S ER, Cl ATTORNEY
BY:
AMENDMENT TO ECONOMIC DEVELOPMENT
PROGRAM GRANT AGREEMENT WITH
SFT INDUSTRIAL, LTD.
This Amendment to Economic Development Program Grant Agreement (the
"Amendment") is made and entered into as of the effective date provided for below, by
and between SFT INDUSTRIAL, LTD., a Texas Limited Partnership ("Granite"), and the
CITY OF DENTON, a Texas municipal corporation (the "City"), for the purposes and
considerations stated below:
WHEREAS, the City and Granite entered into that certain Economic
Development Program Grant Agreement (the "Existing Agreement") authorized by City
Ordinance No. 2005-084 and dated March I, 2005 under Chapter 380 of the Local
Government Code to stimulate economic development in the City; and
WHEREAS, under paragraph V.O of the Existing Agreement the City is required
to complete the perimeter street, Metro Street; and
WHEREAS, the parties did not realize at the time of the Existing Agreement that
portions of Metro Street were not dedicated public right-of-way, thereby necessitating the
acquisition of street right-of-way in order for the City to fulfill its obligation to complete
Metro Street; and
WHEREAS, in order to obtain street right-of-way from TXI, an affected property
owner, the City agreed to request that Granite install at City's expense an 8 inch sanitary
sewer line within Granite' development that can serve TXI's property, which sanitary
sewer line is shown on Exhibit A, attached hereto and made a part hereof by reference
(the "Sanitary Sewer Line");
NOW, THEREFORE, the City and Granite covenant and agree as follows:
I. Paragraph V.O of the Existing Agreement is hereby amended to add the
following: "Granire shall cause the Sanitary Sewer Line to be constructed. City shall
reimburse Granite the actual construction costs upon completion of the Sanitary Sewer
Line, which costs shall not exceed $30,000 without the written approval of City. The City
may authorize progress payments."
2. All other terms and conditions of the Existing Agreement shall remain in full
force and effect.
3. This Amendment shall be effective as of the last date of signature of a party as
indicated below (the "Effective Date").
Signed as of the Effective Date.
Page I
BY:
HOWARD MART
INTERIM CITY MA
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
A./
APPROVED AS TO
EDWIN M. SNY
BY:
SFT INDUSTRIAL, LTD.
A Texas Limited Partnership
BY: GRANITE PROPERTIES, INC.
a Dflaw re Cqrporation
. g I I
ItS! en~ a p ner
BY:
a id R. Cunningham
Its Director Development
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