RDAP-2019-08 2019-10-14RESOLUTION NO. RDAP-2019-08
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF PEARLAND
(DAP), TEXAS AUTHORIZING A DEVELOPER REIMBURSEMENT TO
SHADOW CREEK RANCH RETAIL LP, OR ITS SUCCESSOR OR ASSIGNEE
FOR TIRZ INFRASTRUCTURE IMPROVEMENTS BASED ON THE
REMAINING CASH BALANCE AVAILABLE AFTER THE FINAL
REIMBURSEMENT TO THE MASTER DEVELOPER PLUS THE S3,955,000 OF
PROCEEDS AVAILABLE FROM THE SERIES 2019 BOND SALE.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Board of Directors hereby authorizes a reimbursement in the amount
of $3,955,000 to Shadow Creek Ranch Retail LP, or its successor or assignee for TIRZ
infrastructure improvements upon receipt of bond proceeds plus any remaining cash
balance after the final reimbursement is made to the master developer.
PASSED, APPROVED, AND ADOPTED this 14`h day of October. A.D 2019.
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Development Authority of Pearland
Chairman
ATTEST:
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Development Authority of Pearland
Secretary