City Council Meeting


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  E.2.a.       
Meeting Date: 03/03/2020  
Contact: Isom Cameron, Deputy City Manager

COUNCIL ACTION
AGENDA ITEM:
Consider approval of the Second Amendment to the Economic Development Agreement between the City of DeSoto ("City") and Mulligan Foods RE, LLC ("Owner"), to amend the date the Owner will achieve Completion of Construction of the Improvements to April 15, 2020.  
BACKGROUND:
On October 10, 2017, the City Manager executed an Economic Development Agreement with Mulligan Foods RE, LLC to incentivize the construction of Fuzzy's Taco Shop at 744 East Pleasant Run Road.  The agreement listed August 31, 2018, as the date the Owner would achieve completion of construction of the improvements.

On May 21, 2019, Council approved the First Amendment to the Economic Development Agreement between the City of DeSoto and Mulligan Foods RE, LLC to amend the date the Owner would achieve completion of construction of the improvements to December 31, 2019.
FINDINGS:
The construction of Fuzzy's Taco Shop is near completion.  Mulligan Foods RE, LLC, has requested to amend the Economic Development Agreement to amend the date the Owner will achieve completion of construction of the improvements to April 15, 2020.
FINANCIAL IMPACT:
There will be no additional financial impact.
RECOMMENDATION:
Staff recommends Council approve the Second Amendment to the Economic Development Agreement between the City of DeSoto ("City") and Mulligan Foods RE, LLC ("Owner"), to amend the date the Owner will achieve Completion of Construction of the Improvements to April 15, 2020.  
MANAGEMENT REVIEW
Attachments
Mulligan Foods Second Amendment


    

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