HomeMy WebLinkAbout028755 RES - 08/31/2010Page 1 of 3
RESOLUTION
APPROVING A SMALL BUSINESS INCENTIVES AGREEMENT
BETWEEN THE CORPUS CHRISTI BUSINESS AND JOB
DEVELOPMENT CORPORATION AND DEL MAR COLLEGE FOR THE
FASTTRACe GROWTH VENTURE7h° PROGRAM, WHICH WILL
PROVIDE UP TO $120,000 IN GRANTS TO PROGRAM PARTICIPANTS
WHO CREATE AND RETAIN NEW JOBS FOR THEIR BUSINESSES,
AND AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO
EXECUTE A SMALL BUSINESS INCENTIVES PROJECT SUPPORT
AGREEMENT WITH THE CORPUS CHRISTI BUSINESS AND JOB
DEVELOPMENT CORPORATION REGARDING IMPLEMENTATION
AND ADMINISTRATION OF THE DEL MAR COLLEGE SMALL
BUSINESS INCENTIVES AGREEMENT
WHEREAS, the Corpus Christi Business and Job Development Corporation ("Type A
Board") has budgeted funds to assist small business in Corpus Christi, Texas.
WHEREAS, in 2008, the Type A Board requested proposals and determined that the
proposal from Del Mar College ("Del Mar"), best provided assistance for small business
support;
WHEREAS, City Council deems that it is the best interest of the City and citizens to
approve the small business incentives project support agreement;
WHEREAS, the Type A Board's small business incentives agreement with Del Mar for
the FastTrac® Growth Venture TM Program authorizes up to $120,000 in grants to
program participants who create and retain new jobs for their businesses.
WHEREAS, there is a need for a small business incentives project support agreement
between the City of Corpus Christi ("City") and the Type A Board for the implementation
and administration of the small business incentives agreement with Del Mar for
FastTrac® Growth Venture TM Program.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the small business incentives agreement between the Type A Board
and Del Mar for the FastTrac® Growth Venture TM Program, which is attached to this
resolution as Exhibit A, is approved.
SECTION 2. That the City Manager, or designee, is authorized to execute a project
support agreement between the City and Type A Board for the implementation and
administration of the small business incentives agreement with Del Mar for the
FastTrac® Growth VentureTM Program, which is attached to this resolution as Exhibit B.
028.7.55
RESOLUTION -- Small Business Agreement -- Del Mar FastTrac 2011 08182010
INDEXED
ATTEST: THE CITY OF CORPUS CHRISTI
aNN--,-Qt
742e,ki1
P Armando Cha a Joe Ada
City Secretary Mayor
APPROVED: 02cf'day of August, 2010.
R.J. , Rung
Fir t Assistant City Attorney
For City Attorney
RESOLUTION -- Small Business Agreement -- Del Mar FastTrac 2011 08182010
Page 2 of 3
Page 3 of 3
Corpus l}Christi, Texas
I r
of
, 2010
The above resolution was passed by the following vote:
Joe Adame
Chris N. Adler
Brent Chesney
Larry Elizondo, Sr.
Kevin Kieschnick
Priscilla G. Leal
John E. Marez
Nelda Martinez
Mark Scott
Aff
/1-47
028755
RESOLUTION -- Small Business Agreement -- Del Mar FastTrac 2011 08182010
SMALL BUSINESS INCENTIVE AGREEMENT BETWEEN THE CORPUS CHRISTI
BUSINESS AND JOB DEVELOPMENT CORPORATION AND DEL MAR COLLEGE
FOR THE FASTRAC GROWTH VENTURE PROGRAM
This Small Businesses Incentive Agreement ("Agreement") is entered into between the
Corpus Christi Business and Job Development Corporation ("Corporation") and Del Mar
College, a Texas junior college district ("Del Mar").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979) empowered local
communities with the ability to adopt an optional local sales and use tax as a means of
improving the economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City of Corpus Christi ("City")
passed Proposition 2, New and Expanded Business Enterprises, which authorized the
adoption of a sales and use tax for the promotion and development of new and
expanded business enterprises at the rate of one-eighth of one percent to be imposed
for 15 years;
WHEREAS, the 1/8th cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corpus Christi Business and Job
Development Corporation Board;
WHEREAS, the Corpus Christi Business and Job Development Corporation exists for
the purposes of encouraging and assisting entities in the creation of jobs for the citizens
of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentives;
WHEREAS, Section 21 of the Texas Development Corporation Act of 1979, Art. 5190.6,
Vernon's Texas Revised Civil Statutes, requires the City Council to approve all
programs and expenditures of the corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentives on September 18, 2007;
WHEREAS, Del Mar is a Texas institution of higher education;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas that business development funds be provided to Del Mar, through
this contract with Del Mar, to be used by Del Mar for the FastTrac® Growth Venture '
Program, which will result in creation of at least 12 new full-time permanent jobs in the
City of Corpus Christi.
Page 1 of 9
SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
Exhibit A
In consideration of the covenants, promises, and conditions stated in this Agreement,
Corporation and Del Mar agree as follows:
1. Effective Date. The effective date of this Agreement ("Effective Date") is the latest
date that either party executes this Agreement.
2. Term. The term of this Agreement is from January 1, 2011, through December 31,
2011.
3. Grant. The Corporation will fund up to 24 $5,000 grants to be awarded to twelve
successful participants in Del Mar's FastTrace Growth Venture TM. FastTrac® Growth
Venture TM is an intensive ten week, interactive course that targets existing, successful
small business owners with a desire to grow their business.
a. In order to receive an initial $5,000 grant, prior to June 30, 2011, the
successful participants must:
(1) Complete the course.
(2) Represent a "business expansion."
(3) Retain all of their existing jobs.
b. In order to receive a second $5,000 grant, the successful participants must
create and retain at least one new job for a minimum of six months, while
retaining all of their existing jobs.
4. Job Creation Qualification.
a. In order to count as a created job under this Agreement, the job must -pay
wages as required by Section 38(b) of the Development Corporation Act of 1979,
as amended, which is the median wage of the occupation in the Corpus Christi
MSA as determined by Texas Workforce Commission's Texas Industry Profiles
report.
b. A full-time permanent job is one that provides at least 2,080 hours annually.
c. Del Mar agrees to confirm and document to the Corporation that each job
created as a result of funding provided by this Agreement is maintained for at
least six months.
d. Del Mar agrees to provide Corporation with a sworn certificate by authorized
representative of each small business assisted under this Agreement certifying
the number of full-time permanent employees employed by the small business.
e. Del Mar shall ensure that the Corporation is allowed reasonable access to
personnel records of the small businesses assisted under this Agreement.
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
5. Buy Local Provision.
a. Del Mar agrees to use its best efforts to give preference and priority to local
manufacturers, suppliers, contractors, and labor, except where not reasonably
possible to do so without added expense, substantial inconvenience, or sacrifice
in operating efficiency.
b. For the purposes of this section, the term "local" as used to describe
manufacturers, suppliers, contractors, and labor includes firms, businesses, and
persons who reside in or maintain an office within a 50- mile radius of Nueces
County.
6. Warranties. Del Mar warrants and represents to Corporation the following:
a. Del Mar has the authority to enter into and perform, and will perform, the
terms of this Agreement.
b. Del Mar has timely filed and will timely file all local, State, and Federal tax
reports and returns required by laws to be filed and all Texas, assessments, fees,
and other governmental charges, including applicable ad valorem taxes, have
been timely paid, and will be timely paid , during the term of this Agreement.
c. DEL MAR has reviewed a copy of the Subtitle C1, Title 12, Texas Local
Government Code, which governs development corporations and is available on
the State's website, and acknowledges that the funds granted in this Agreement
must be utilized solely for purposes authorized under State law and by the terms
of this Agreement.
d. If an audit determines that the funds were not used for authorized purposes,
Del Mar agrees to reimburse Corporation for the sums of money spent for
purposes not authorized by law within 30 days written notice requesting
reimbursement.
e. The parties executing this Agreement on behalf of Del Mar are duly
authorized to execute this Agreement on behalf of Del Mar.
7. Compliance with Laws. Del Mar shall observe and obey all applicable laws,
ordinances, regulations, and rules of the Federal, State, county, and city governments.
8. Non -Discrimination. Del Mar covenants and agrees that Del Mar will not discriminate
nor permit discrimination against any person or group of persons, with regard to
employment and the provision of services at, on, or in the Facility, on the grounds of
race, religion, national origin, marital status, sex, age, disability, or in any manner
prohibited by the laws of the United States or the State of Texas.
9. Force Majeure. If the Corporation or Del Mar are prevented, wholly or in part, from
fulfilling its obligations under this Agreement by reason of any act of God, unavoidable
accident, acts of enemies, fires, floods, governmental restraint or regulation, other
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
causes of force majeure, or by reason of circumstances beyond its control, then the
obligations of the Corporation or Del Mar are temporarily suspended during continuation
of the force majeure. If either party's obligation is affected by any of the causes of force
majeure, the party affected shall promptly notify the other party in writing, giving full
particulars of the force majeure as soon as possible after the occurrence of the cause or
causes relied upon.
10. Assignment. Del Mar may not assign all or any part of its rights, privileges, or
duties under this Agreement without the prior written approval of the Corporation and
City. Any attempted assignment without approval is void, and constitutes a breach of
this Agreement.
11. Indemnity. To the extent authorized by law, Del Mar covenants to
fully indemnify, save, and hold harmless the Corporation, the City,
their respective officers, employees, and agents ("Indemnitees")
against all liability, damage, loss, claims demands, and actions of any
kind on account of personal injuries (including, without limiting the
foregoing, workers' compensation and death claims), or property loss
or damage of any kind, which arise out of or are in any manner
connected with, or are claimed to arise out of or be in any manner
connected with Del Mar activities conducted under or incidental to
this Agreement, including any injury, loss or damage caused by the
sole or contributory negligence of any or all of the Indemnitees. Del
Mar must, at its own expense, investigate all those claims and
demands, attend to their settlement or other disposition, defend all
actions based on those claims and demands with counsel
satisfactory to Indemnitees, and pay all charges of attorneys and all
other cost and expenses of any kind arising from the liability,
damage, loss, claims, demands, or actions.
12. Events of Default. The following events constitute a default of this Agreement:
a. Failure of Del Mar to timely, fully, and completely comply with any one or
more of the requirements, obligations, duties, terms, conditions, or warranties of
this Agreement.
b. The Corporation or City determines that any representation or warranty on
behalf of Del Mar contained in this Agreement or in any financial statement,
certificate, report, or opinion submitted to the Corporation in connection with this
Agreement was incorrect or misleading in any material respect when made;
c. Any judgment is assessed against Del Mar or any attachment or other levy
against the property of Del Mar with respect to a claim remains unpaid,
undischarged, or not dismissed for a period of 30 days.
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
d. Del Mar makes an assignment for the benefit of creditors.
e. Del Mar files a petition in bankruptcy, or is adjudicated insolvent or bankrupt.
13. Notice of Default. Should the Corporation or City determine that Del Mar is in
default according to the terms of this Agreement, the Corporation or City shall notify Del
Mar in writing of the event of default and provide 60 days from the date of the notice
("Cure Period") for Del Mar to cure the event of default.
14. Results of Uncured Default. After exhausting good faith attempts to address any
default during the cure Period, and taking into account any extenuating circumstances
that might have occurred through no fault of Del Mar, as determined by the Board of
Directors of the Corporation, the following actions must be taken for any default that
remains uncured after the Cure Period.
a. Del Mar shall immediately repay all funds paid by Corporation under this
Agreement.
b. Del Mar shall pay Corporation reasonable attorney fees and costs of court to
collect amounts due to Corporation.
c. The Corporation shall have no further obligations to Del Mar under this
Agreement.
d. Neither the City nor the Corporation may be held liable for any consequential
damages.
e. The Corporation may pursue all remedies available under law.
15. No Waiver.
a. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Agreement, constitutes a waiver of any subsequent breach of
the covenant or condition of the Agreement.
b. No waiver of any covenant or condition, or the breach of any covenant or
condition of this Agreement, justifies or authorizes the nonobservance on any
other occasion of the covenant or condition or any other covenant or condition of
this Agreement.
c. Any waiver or indulgence of Del Mar' default may not be considered an
estoppel against the Corporation.
d. It is expressly understood that if at any time Del Mar is in default in any of its
conditions or covenants of this Agreement, the failure on the part of the
Corporation to promptly avail itself of the rights and remedies that the
Corporation may have, will not be considered a waiver on the part of the
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
Corporation, but Corporation may at any time avail itself of the rights or remedies
or elect to terminate this Agreement on account of the default.
16. Del Mar specifically agrees that Corporation shall only be liable to Del Mar for the
actual amount of the money grants to be conveyed to Del Mar, and shall not be liable to
Del Mar for any actual or consequential damages, direct or indirect, interest, attorney
fees, or cost of court for any act of default by Corporation under the terms of this
agreement. Payment by Corporation is strictly limited to those funds so allocated,
budgeted, and collected solely during the grant term of this agreement, being January 1,
2010, through December 31, 2010. Corporation shall use its best efforts to anticipate
economic conditions and to budget accordingly. However, it is further understood and
agreed that, should the actual total sales tax revenue collected for any one year be less
than the total amount of grants to be paid to all contracting parties with Corporation for
that year, then in that event, all contracting parties shall receive only their pro rata share
of the available sales tax revenue for that year, Tess Corporation's customary and usual
costs and expenses, as compared to each contracting parties' grant amount for that
year, and Corporation shall not be liable to for any deficiency at that time or at any time
in the future. In this event, Corporation will provide all supporting documentation, as
requested. Payments to be made shall also require a written request from Del Mar to
be accompanied by all necessary supporting documentation.
17. Notices.
a. Any required written notices shall be sent mailed, certified mail, postage
prepaid, addressed as follows:
Del Mar College:
Del Mar College
Small Business Development Center
101 Baldwin, CED -146
Corpus Christi, TX 78404-3897
Attn: Director, SBDC
Corporation:
City of Corpus Christi
Business and Job Development Corporation
Attn.: Executive Director
1201 Leopard Street
Corpus Christi, Texas 78401
b. A copy of all notices and correspondence must be sent the City at the
following address:
City of Corpus Christi
Attn.:City Manager
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
P.O. Box 9277
Corpus Christi, Texas 78469-9277
c. Notice is effective upon deposit in the United States mail in the manner
provided above.
18. Incorporation of other documents. The Corpus Christi Business and Job
Development Corporation Guidelines and Criteria for Granting Business Incentives
("Corporation Guidelines"), as amended, are incorporated into this Agreement.
19. Amendments or Modifications. No amendments or modifications to this Agreement
may be made, nor any provision waived, unless in writing signed by a person duly
authorized to sign agreements on behalf of each party.
20. Relationship of Parties. In performing this Agreement, both the Corporation and
Del Mar will act in an individual capacity, and not as agents, representatives,
employees, employers, partners, joint -venturers, or associates of one another. The
employees or agents of either party may not be, nor be construed to be, the employees
or agents of the other party for any purpose.
21. Captions. The captions in this Agreement are for convenience only and are not a
part of this Agreement. The captions do not in any way limit or amplify the terms and
provisions of this Agreement.
22. Severability.
a. if for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Agreement or the application of this Agreement to any
person or circumstance is, to any extent, held illegal, invalid, or unenforceable
under present or future law or by a final judgment of a court of competent
jurisdiction, then the remainder of this Agreement, or the application of the term
or provision to persons or circumstances other than those as to which it is held
illegal, invalid, or unenforceable, will not be affected by the law or judgment, for it
is the definite intent of the parties to this Agreement that every section,
paragraph, subdivision, clause, provision, phrase, or word of this Agreement be
given full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this
Agreement, then the remainder of this Agreement is not affected by the law, and
in lieu of any illegal, invalid, or unenforceable clause or provision, a clause or
provision, as similar in terms to the illegal, invalid, or unenforceable clause or
provision as may be possible and be legal, valid, and enforceable, will be added
to this Agreement automatically.
23. Venue. Venue for any legal action related to this Agreement is in Nueces County,
Texas.
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SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08162010
24. Sole Agreement. This Agreement constitutes the sole agreement between
Corporation and Del Mar. Any prior agreements, promises, negotiations, or
representations, verbal or otherwise, not expressly stated in this Agreement, are of no
force and effect.
25. Survival of terms of agreement and obligations of parties. The terms of this
agreement and the obligation of the parties relating to [what survives] shall survive the
termination of this agreement.
Corpus Christi Business & Job Development Corporation
By:
Date:
Attest:
By:
Eloy Salazar
Chairperson
Armando Chapa
Assistant Secretary
Page 8 of 9
SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
Del Mar College
By:
Date:
Mark Escamilla, Ph.D
President
THE STATE OF TEXAS §
COUNTY OF NUECES §
This instrument was acknowledged before me on , 2010, by
Mark Escamilla, Ph.D, for Del Mar College, a political subdivision of the State of Texas,
on behalf of the college district.
Notary Public
State of Texas
Page 9 of 9
SMALL BUSINESS INCENTIVE AGREEMENT -- Del Mar FastTrac 08182010
SMALL BUSINESS INCENTIVES PROJECT SERVICE AGREEMENT
FOR DEL MAR COLLEGE'S FASTTRAC® GROWTH VENTURETm PROGRAM
This Small Business Incentivess Project Service Agreement ("Project Service
Agreement") is entered into between the Corpus Christi Business and Job Development
Corporation ("Corporation") and the City of Corpus Christi, Texas ("City").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979), now codified as Subtitle
C1, Title 12, Texas Local Government Code, empowered local communities with the
ability to adopt an optional local sales and use tax as a means of improving the
economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City passed Proposition 2, New and
Expanded Business Enterprises, which authorized the adoption of a sales and use tax
for the promotion and development of new and expanded business enterprises at the
rate of one-eighth of one percent to be imposed for 15 years;
WHEREAS, the 1/8 cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corporation's Board of Directors;
WHEREAS, the Corporation exists for the purposes of encouraging and assisting
entities in the creation of jobs for the citizens of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentivess;
WHEREAS, Section 501.073, Texas Local Government Code, requires the City Council
to approve all programs and expenditures of the corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentivess on September 18, 2007;
WHEREAS, Del Mar College has submitted a proposal to the Corporation for
$120,000.00 for FastTrac® Growth Venture TM Program;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas, to fund the Del Mar College's FastTrac® Growth Venture TM
Program; and
WHEREAS, the Corporation and Del Mar College have executed a small business
incentives project agreement for the FastTrac® Growth Venture TM Program.
In consideration of the covenants, promises, and conditions stated in this Project
Service Agreement, the Corporation and the City agree as follows:
Project Support Agreement A -City -- Del Mar FastTrac 08182010
Page 1 of 3
Exhibit B
1. Project Service Agreement to Implement Business Incentivess Agreement.
This Project Service Agreement between the City and the Corporation is executed to
implement the Small Business Incentives Agreement for the FastTrac® Growth
Venture -n.4 Program between the Corporation and Del Mar College ("Small Business
Incentives Agreement").
2. Term. The term of this Project Service Agreement runs concurrently with the term of
the Small Business Incentives Agreement.
3. Services to be Provided by City.
a. The City Manager, or the City Manager's designee, shall administer funding
on behalf of the Corporation.
b. The City Manager, or the City Manager's designee, shall perform contract
administration responsibilities outlined in the Small Business Incentives
Agreement for the Corporation.
4. Appropriation of Funds. Any future payments by the City are subject to
appropriation of funds by City's Council.
5. Effective Date. The effective date of this Project Service Agreement is the latest
date that either party executes this Agreement.
6. Amendments or Modifications. No amendments or modifications to this Project
Service Agreement may be made, nor any provision waived, unless in writing signed by
a person duly authorized to sign agreements on behalf of each party.
7. Severability.
a. If for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Service Agreement or the application of this
Project Service Agreement to any person or circumstance is, to any extent, held
illegal, invalid, or unenforceable under present or future law or by a final
judgment of a court of competent jurisdiction, then the remainder of this Project
Service Agreement, or the application of the term or provision to persons or
circumstances other than those as to which it is held illegal, invalid, or
unenforceable, will not be affected by the law or judgment, for it is the definite
intent of the parties to this Project Service Agreement that every section,
paragraph, subdivision, clause, provision, phrase, or word of this Project Service
Agreement be given full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this Project
Service Agreement, then the remainder of this Project Service Agreement is not
affected by the law, and in lieu of any illegal, invalid, or unenforceable clause or
provision, a clause or provision, as similar in terms to the illegal, invalid, or
Page 2 of 3
Project Support Agreement A -City -- Del Mar FastTrac 08182010
unenforceable clause or provision as may be possible and be legal, valid, and
enforceable, will be added to this Project Service Agreement automatically.
8. Captions. The captions in this Project Service Agreement are for convenience only
and are not a part of this Project Service Agreement. The captions do not in any way
limit or amplify the terms and provisions of this Project Service Agreement.
The City of Corpus Christi Corpus Christi Business &
Job Development Corporation
'Angel R. Escobar Eloy Salazar
City Manager Chairperson
Date: Date:
Attest
Armando Chapa
City Secretary
Approved as to Legal Form: August, 2010.
R. Jay Reining
First Assistant City Attorney
for City Attorney
Page 3 of 3
Project Support Agreement A -City — Del Mar FastTrac 08182010
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Finance of the City of Corpus Christi, Texas (or his/her duly authorized
representative), hereby certify to the City Council and other appropriate officer that the
money required for the contract, agreement, obligation or expenditure described below is
in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and
has not been appropriated for any other purpose.
City Council Action Date: August 31, 2010
Agenda Item:
RESOLUTION APPROVING A SMALL BUSINESS INCENTIVE AGREEMENT BETWEEN
THE CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION AND Del
Mar College FOR THE FastTrac® Growth Venture TM Program, WHICH WILL PROVIDE UP
TO $120,000 IN GRANTS TO PROGRAM PARTICIPANTS WHO CREATE AND RETAIN
NEW JOBS FOR THEIR BUSINESSES, AND AUTHORIZING THE CITY MANAGER, OR
DESIGNEE, TO EXECUTE A SMALL BUSINESS INCENTIVE PROJECT SUPPORT
AGREEMENT WITH THE CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION REGARDING IMPLEMENTATION AND ADMINISTRATION OF THE Del
Mar College SMALL BUSINESS INCENTIVE AGREEMENT
Amount Required: $120,000
Fund Name
Fund No.
Org. No.
Account
No.
Project No.
Amount
Qus,....iEss.-- Toa
//(o
/S D2_,o
53a0
_
/i0,00D
D e Li# I Dp rrvo ei, i--
Total
Certification Not Required
Director of Financial Services
Date: ,s Z tc,