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Item No. 28.
Consider approval of First Amendment to Project Services Agreement with the Roswell Chaves County Economic Development Corporation. (Grant/Holloman)
On November 8, 2018, City Council approved project services agreement with the Roswell Chaves County Economic Development Corporation to develop property at RIAC for new tenant Red Mountain Arsenal, LLC. The original agreement was limited to $307,000 allowing for a higher amount in the City’s discretion and upon written agreement. This amendment would allow the City to provide additional funding, satisfying the “written agreement” provision of the original agreement.
As presented, authorizes the expenditure of money up to $675,000 for project services.
The City Attorney has reviewed the Agreement.
BOARD AND COMMITTEE ACTION:
The Finance Committee recommended (4-0) approval at their meeting on February 7, 2019.
Consider approval of First Amendment to Project Services Agreement with the Roswell Chaves County Economic Development Corporation.
ATT 1 First Amend Project Srvcs Agmt
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