TO AUTHORIZE EXPENDITURES FROM THE INDUSTRIAL DEVELOPMENT FUND TO SUPPORT AN ECONOMIC DEVELOPMENT PROJECT (Cigital, 100 S. College Avenue)
In accordance with state law, this resolution authorizes payment of up to $32,000 to be expended from the Industrial Development Fund (“IDF”) to Cigital (Developer) to assist with the high technology company’s expansion into the Downtown Community Revitalization Enhancement District (“CRED”). The resolution also authorizes the City to enter into an economic development financing agreement with the Developer to include the terms and conditions of the compliance and potential clawback of the one-time payment in the event of noncompliance.
| Amends Code | No |
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| Final | 2012-03-07 | Passed | 8-0 (Mayer absent) |
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