RDAP-2013-08 - 2012-09-30 RESOLUTION NO. RDAP-2013-8
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 $6,638,430.
BE IT RESOLVED BY DAP BOARD OF DIRECTORS:
Section 1. That the Board of Directors hereby authorizes a cash reimbursement in the
amount of $6,638,430 to Shadow Creek Ranch Development Company LTD for TIRZ
infrastructure improvements.
PASSED, APPROVED, AND ADOPTED this 30th day of September. A.D 2013.
Faj
TOM REID
DAP CHAIRMAN
ATTEST:
,jek
ED BAKER
DAP SECRETARY
Resolution No. RDAP 2013-8
DEVELOPMENT AUTHORITY OF PEARLAND
CASH ANALYSIS 9/30/2013
Cash and Cash Equivalents
Cash and Cash Equivalents 6,355,502
Money Market 4,347,563
Total as of 8/31/2013 10,703,065
Less:Reserve for Debt Service - held at Regions (4,347,563)
Less:Reserve for Debt Service (1,000,000)
Less: Operating Costs (15,002)
Plus: TEA Supplemental Payment 1,297,930
Amount Available for Reimbursement 6,638,430