RDAP 2021-05 2021-09-27 RESOLUTION NO. RDAP 2021-05
A RESOLUTION OF THE DEVELOPMENT AUTHORITY OF PEARLAND (DAP),
AUTHORIZING DEVELOPER REIMBURSEMENTS TO CITY OF PEARLAND
AND 518 SCR, LTD, OR ITS SUCCESSOR OR ASSIGNEE, TO REIMBURSE
TIRZ INFRASTRUCTURE IMPROVEMENTS FOR A TOTAL AMOUNT OF
$10,836,480.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Development Authority of Pearland, TX hereby authorizes
cash reimbursements in the amount of $6,899,902 to the City of Pearland and
$3,936,578 to 518 SCR, LTD, or its successor or assignee, for TIRZ infrastructure
improvements for a total amount of $10,836,480 in accordance with the updated
developer reimbursement audit prepared by the TIRZ No. 2 Auditor.
PASSED, APPROVED, AND ADOPTED this 27th day of
September . A.D 2021.
DAP CHAIRMAN
ATTEST:
DAP SECRETARY