Economic Development Agreement with Stata Corp

  • 475 views
Uploaded on

 

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
475
On Slideshare
0
From Embeds
0
Number of Embeds
3

Actions

Shares
Downloads
1
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. City Council Regular Session August 25, 2014
  • 2.  Produces a leading statistical software package; Stata ◦ Develops, distributes, and supports; Headquartered in College Station  Publishes books, manuals, and the Stata Journal ◦ Stata Press, a division of StataCorp LP  Business Center at College Station; $4,877,740 valuation  104 FTEs with an annual payroll of $8,087,940  Business Retention and Expansion Prospect ◦ Limited Growth Opportunity and Trailing Spouse ◦ Own Internal Campus with Employee Amenities
  • 3. 39.198 Acres
  • 4.  39.198 Acres −Replat; 30.275 acres & 8.923 acres  8.923 Acres − Independent third-party appraisal: $1,090,000 −Posted on Brazos Valley Online Bidding System (BrazosBid)  StataCorp LP −Highest and only bidder  December 12, 2013 − City Council approved a real estate contract with StataCorp LP − Purchase Price: $1,090,000
  • 5. 30.275 Acres 8.923 Acres
  • 6.  City’s Incentives −Right-of-Way Abandonment − Staff will recommend to City Council at a later date − Contingent upon receipt of a building permit within five years −Dedication of 30 acres as parkland − Staff will recommend to City Council at a later date − Contingent upon receipt of a Certificate of Occupancy within seven years − Serve as linear park; with multi-use paths (per Comprehensive Plan) −Permitting −Waive $700 ROW Abandonment Application − Development Fast Tracking
  • 7.  StataCorp’s Obligations −$3 Million Capital Investment in the Business Center − Campus-like Business Facility − Amenities conducive to use as a common area for employees −New Job Creation / Increased Annual Payroll − 15 FTE’s / $1 Million  Clawback Provisions −Reimburse ROW Abandonment Application fee of $700, and/or −Reimburse $2.80 PSF of ROW abandoned