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Technology Stocks : Dell Technologies Inc.
DELL 119.35-2.7%12:49 PM EST
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To: Patrick E.McDaniel who wrote (36153)3/31/1998 2:06:00 AM
From: jbn3  Read Replies (1) of 176387
 
(Part III) Dell's Northeast Austin project

Revenue for city

The City of Austin projects it will receive revenue and right of way valued at $32 million over 30 years, including $8.2 million in property taxes over 10 years and $15.3 million in electricity sales revenue over the next 20 years.

Construction accord

Dell will:

o Build in Austin's Desired Development Zone
o Pay half the cost of a new four-lane street through the west end of the site. Estimated cost, $3 million.
o Build an 80-foot-long grassy berm, 4 to 6 feet high on Harris Ridge Boulevard, which is adjacent to the Harris Ridge housing development. Plant ornamental and shade trees at regular intervals in the berm.
o Move construction back 200 feet from Harris Ridge. Between 200 and 300 feet, build only parking lots, driveways and similar improvements. Buildings will be at least 100 yards from the street.
o Limit building height to 37 feet.
o Leave a 50-foot landscaped buffer along Howard Lane

These concessions will require 38 acres and are valued by Dell at $2 million.

The city will:

o Grant a variance from development rules so the city staff can approve buildings without time-consuming hearings before city boards
o Pay half the cost of a new street through the campus and accelerate planned roads and water and wastewater facilities.
o Estimated cost of all improvements provided by the city: $14.6 million.

Source: City of Austin

(from Austin American-Statesman, Sunday, March 29, page A15)

DELLish, 3.
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