RDAP-2017-06 2017-10-30 RESOLUTION NO.RDAP-2017-06
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF PEARLAND
(DAP), TEXAS AUTHORIZING A DEVELOPER REIMBURSEMENT TO
SHADOW CREEK RANCH DEVELOPMENT COMPANY LTD TO
REIMBURSE FOR TIRZ INFRASTRUCTURE IMPROVEMENTS IN THE
AMOUNT OF $5,985,000, PLUS THE AMOUNT RECEIVED FROM TEA FOR
TAX YEAR 2016 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$5,985,000 to Shadow Creek Ranch Development Company LTD for TIRZ
infrastructure improvements, plus the amount received from TEA for tax year 2016
supplemental taxes.
PASSED,APPROVED,AND ADOPTED this 30th day October A.D 2017.
g.L)
Development Authority of Pearland
Chairman
ATTEST:
ed. /54
Development Authority of Pearland
Secretary
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