MISSION ECONOMIC DEVELOPMENT CORPORATION
NOTICE OF INTENTION
BUDGET AMENDMENT TO FY 2019-2020 BUDGET
TAKE NOTICE that the Mission Economic Development Corporation of the City of Mission, (the “MEDC”), shall convene not earlier than 60 days after first publishing this notice and shall consider authorizing a Budget Amendment to the fiscal year 2019-2020 Budget, as hereinafter described, pursuant to the provisions of V.T.C.A. Local Government Code Sections 505.001 et seq. The MEDC is authorized on behalf of the City of Mission, Texas to undertake the Project or Projects by paying the cost of the Project or Projects with sales tax revenues authorized under said Local Government Code sections.
The Board of Directors of the MEDC will determine whether the Project or Projects will be undertaken and whether it will finance the cost of the Project or Projects with proceeds from sales tax revenues.
The Project or Projects shall consist of the following:
1) Cantu Bungalows dba The Bungalows, for a development located at 3700 Plantation Grove Boulevard, Mission, Texas 78572, in an amount of $50,000 each year for 10 years; and 2) A sales tax reimbursement to A-S 135 Hwy 83-Bryan Rd., L.P., for a development to be located at 1405 E. Expressway 83, Mission, Texas 78572, in an amount not to exceed $1.75 million over a period of 30 years.
Date of publication: January 24, 2020