25-1497A

Authorize (1) a development agreement with Tango North RF, LLC and/or its affiliates (“Developer”) in an amount not to exceed $29,399,487.00 (“TIF Subsidy”), payable from current and future Downtown Connection Sub-district funds in the Downtown Connection Tax Increment Financing (“TIF”) District (“Zone”), in consideration of the Developer’s design, engineering, financing, and construction of a new Fire Station No. 18 and associated infrastructure and streetscape improvements (“Project”) to be developed on three vacant properties currently addressed as 1205 Patterson Avenue, 1212 San Jacinto Street, and 1214 San Jacinto Street and adjacent rights-of-way in the Zone; (2) upon completion and acceptance of the Project: (a) City’s acquisition from Developer of the properties addressed as 1205 Patterson Avenue, 1212 San Jacinto Street, and 1214 San Jacinto Street totaling approximately 0.967 acres (the property on which the future Fire Station No. 18 will be located); and (b) City’s direct sale to the Developer of approximately 1.09 acres of property addressed as 660 North Griffin Street, including the existing Fire Station No. 18 in as-is condition and at fair market value in accordance with Chapter 311 of the Texas Tax Code and Chapter 272 of the Texas Local Government Code; and (3) upon completion and acceptance of the Project, the City Manager to execute customary and reasonable closing documents, as may be required and approved as to form by the City Attorney, to effectuate the transaction - Not to exceed $29,399,487.00 - Financing: Downtown Connection TIF District Fund (subject to current and annual appropriations from tax increments)

CONSENT AGENDA Approved as an Individual Item Introduced April 21, 2025

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