5 : FOUNDED 1839 Austin City Council MINUTES For EMERGENCY SPECIAL CALLED MEETING June 25, 1987 3:00 Ρ.Μ. Council Chambers, 307 West Second Street, Austin, Texas Memorandum To: Mayor Pro Tem Trevino called to order the special meeting of the Council, noting the absence of Mayor Cooksey. The meeting, scheduled for 3:00p.m., was called to order at 7:56 p.m. Mayor Pro Tem Trevino announced the purpose of the meeting was to consider action on the incentive package for SEMATEC. Motion The Council, on Councilmember Carl-Mitchell's motion, Councilmember Humphrey's second, made a motion to include the following incentives in the proposal to be submitted and to direct the City Manager to direct staff to go to the Chamber of Commerce and propose the following incentives be put in the initial package to be sent: 1. The City will lend the full support of the City's Economic Development's appointed staff, and included in that will be a designated employee to work with Sematech if they choose Austin as a location. 2. That in that proposal we point out the existence of a $3.5 million dollar Economic Development Trust Fund established by this. Council a few years ago, that that money is available for economic development activities. 3. That the City is committed to an Enterprise Zone, whose boundary includes the area in question for the facility to build a general plant. 4. That the City has a commitment in participating in the Business Retention Program with the Council Memo ) 2 6/25/87 private sector, which, of course, would include Sematech and working with them on their proposal and that our Economic Development staff work with the Chamber and incorporate those in the proposal that will be sent to New York. Motion passed by a vote of 6-0 with Mayor Cooksey absent. ADJOURNMENT Council adjourned its meeting at 7:59 p.m.