08.17.21 Regular Meeting - Laserfiche WebLink

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City Council Meeting Minutes August 17, 2021 Michael Cosentino, City Attorney provided the amendments to the Chapter 380 Agreement. MOTION TO AMEND: a motion was made by Mayor Hughson, seconded by Mayor Pro Tem Derrick, to amend the changes to the 380 Economic Development Agreement as follows: Section 2.06 - adding the sentence "A Job shall be a position for which Tenant offers an employee only base benefits package to include health, vision, and dental beginning day one of employment." Section 2.11 - Council requested the Compliance Certificate to be maintained continuously for 10 years with the term extended to 2034. Section 3.02 - Request from the company changing the commencing construction date to October 31, 2021. Section 3.03 - There was a typo changed from $111 to $1M. Section 3.05 - Council requested adding the sentence "The tenant shall maintain the Clean Green certification for a minimum of 10 years after receiving the certification." Section 4.02 - Adding "Tenant must achieve TRSA Clean Green Certification by December 31, 2024 and maintain the certification in order for the Company to be eligible to receive both the second Grant Payment in 2025 (50%) and the third Grant Payment in 2026 (25%)". Section 7.02 - Compliance certificate to be submitted with the incentives to be granted by inserting "e.g., after 2026, the Compliance Certificate shall only certify compliance with Section 3.05". Section 8.03 - Inserting section b. Clawback. Notwithstanding any other provision to the contrary in this Agreement, if Tenant fails to maintain the TRSA Clean Green certification for at least a period of 10 years from the date of obtaining the certification, Tenant shall repay to the City the total amount of all Grant Payments received by Company within 60 days following receipt of a written request from the City for such repayment. The City may pursue all remedies available at law or in equity for failure of Tenant to repay the City under this section, including the recovery from Tenant of reasonable attorney fees and costs of court and litigation. Applicable law and venue for purposes of this section shall be as provided in Section 9.06. -Adding a signature section for Tenant and inserting the following language, "Tenant hereby acknowledges that it is a beneficiary of the Grant Payments paid under this Agreement and that the payment of Grant Payments to Company to Company is dependent upon the satisfaction of or compliance with certain conditions by Tenant as stated in this Agreement. Specifically, Tenant agrees to be bound by Section 8.03(b) regarding the requirement to City of San Marcos Page 14