RDAP-2016-09 2016-09-26 RESOLUTION NO. RDAP-2016-09
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF PEARLAND
(DAP), TEXAS AUTHORIZING A DEVELOPER REIMBURSEMENT TO
SHADOW CREEK RANCH DEVELOPMENT COMPANY TO REIMBURSE
FOR TIRZ INFRASTRUCTURE IMPROVEMENTS IN THE AMOUNT OF
$5,625,000, PLUS THE AMOUNT RECEIVED FROM TEA FOR 2015
SUPPLEMENTAL TAXES.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Board of Directors hereby authorizes a cash
reimbursement in the amount of $5,625,000 to Shadow Creek Ranch
Development Company LTD for TIRZ infrastructure improvements, plus the
amount received from TEA for 2015 supplemental taxes.
PASSED, APPROVED, AND ADOPTED this 10t" day of October A.D 2016.
1)C7)-Yi
TOM REID
Chair
Development Authority ofPearland
Chairman
ATTEST:
Adeet
ED BAKER
Secretary
Development Authority of Pearland
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