SUBJECT: Approval of Reimbursement Agreement with Sater Oil International, LLC, in an Amount Not to Exceed $88,750; Authorization to Use the Economic Development Opportunity Fund to Contribute Toward Public Storm Drain Improvements at the Intersection of South Parsons Avenue and East Childs Avenue in the Amount of $88,750.00 and Approval of a Supplemental Appropriation from the Economic Development Opportunity Fund (Fund 074) in the Amount of $88,875 to Fund the Reimbursement Agreement. REPORT IN BRIEF Considers approving a reimbursement agreement with Sater Oil International, LLC, to contribute toward the construction of public storm drainage facility improvements at the intersection of South Parsons Avenue and East Childs Avenue. RECOMMENDATION City Council - Adopt a motion: A. Approving a reimbursement agreement with Sater Oil International, LLC, in the amount not to exceed $88,750; and, B. Approving a supplemental appropriation from the unreserved, unencumbered balance of the Economic Development Opportunity Fund - 074 to account 074-2002-677.65-00, project 120055 in the amount of $88,750 for payment to Sater Oil International, LLC., to contribute toward the construction of public storm drainage facility improvements at the intersection of South Parsons Avenue and East Childs Avenue; and, C. Authorizing the City Manager or the Assistant City Manager to execute the Reimbursement Agreement.

Consent Item Passed Introduced November 27, 2019

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Introduced: November 27, 2019
On agenda: December 16, 2019
Passed: December 16, 2019