HomeMy WebLinkAbout028775 RES - 09/14/2010Page 1 of 2
RESOLUTION
APPROVING THE FIRST AMENDMENT TO SMALL BUSINESS
INCENTIVE AGREEMENT BETWEEN THE CORPUS CHRISTI
BUSINESS AND JOB DEVELOPMENT CORPORATION AND
DEL MAR COLLEGE FOR THE FASTRAC GROWTH VENTURE
PROGRAM
WHEREAS, on June 15, 2009, the Corpus Christi Business and Job
Development Corporation ("Type A Board") and Del Mar College ("Del Mar") to
executed a Small Business Incentive Agreement for the Fastrac Growth Venture
Program, which granted up to $120,000 in small business incentives to who
successfully completed the program and created new jobs;
WHEREAS, with the down turn in the economy, not all of the small businesses
are able to create new jobs, and are struggling to retain their current payrolls;
and
WHEREAS, it has been determined that it would be advantageous to encourage
continued participation by small businesses in the Del Mar FasTrac program and
reward small businesses that use the knowledge gained by the program to retain
their existing jobs;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
SECTION 1. That the First Amendment to the Small Business Incentive
Agreement between the Corpus Christi Business and Job Development
Corporation and Del Mar College for the Fastrac Growth Venture Program, which
is attached to this resolution, is approved.
ATTEST: THE CITY OF CORPUS CHRISTI
(9)11"igt peelad-
Armando Chapa Joe A me
City Secretary Mayor
APPROVED: CPS V day of August, 2010.
R. Jay ei ng
Firs ssi ant Ci y Attorney
For City Attorney
028775
Res -1st Amendment - Del Mar FasTrac -- 08102010. DOC
INDEXED
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Corpus Christi, Texas
'1113- of 1Q/ , 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
028775
Res -1st Amendment - Del Mar FasTrac -- 08102010.00C
FIRST AMENDMENT TO
SMALL BUSINESS INCENTIVE AGREEMENT BETWEEN THE CORPUS CHRISTI
BUSINESS AND JOB DEVELOPMENT CORPORATION AND DEL MAR COLLEGE
FOR THE FASTRAC GROWTH VENTURE PROGRAM
A. The Small Business Incentive Agreement between the Corpus Christi Business and
Job Development Corporation and Del Mar College for the FasTrac Growth Venture
Program ("Agreement"), last executed on June 15, 2009, is amended by revising
Section 3 to read as follows:
"3. Grant. The Corporation will fund up to 24 $5,000 grants to be awarded to twelve
successful participants in Del Mar's FastTrac® Growth VentureTM. 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 Juno 30, 2000
December 31, 2010, the successful participants must:
"(1) Complete the course.
"(2) Represent a "business expansion."
"(3) Create at least one new job for their business, while retaining
Retain all of their existing jobs.
"b. In order to receive a second $5,000 grant, the successful participants
must create and retain the -at least one new job that was created for a
minimum of six months, while retaining all of their existing jobs."
B. This amendment to the Agreement takes effect on the latest date that either party
executes this amendment
C. This amendment does not effect the term of the Agreement.
D. Any provision of the Agreement that is not expressly amended by this amendment
remains unchanged and in full force and effect.
E. This amendment to the Agreement may be executed in any number of counterparts,
each of which shall be deemed an original and constitute one and the same instrument.
EXECUTED on the date shown opposite the signature of each party.
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FrrstAmenment -- Small Business Agreement -- Del Mar FastTrac 08102010.1OC
Corpus Christi Business & Job Development Corporation
By:
Date:
Attest
By:
Eloy Salazar, Chairperson
Armando Chapa, Assistant Secretary
Del Mar College
By:
Mark Escamilla, Ph.D
President
Date:
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
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FirstAmenment -- Small Business Agreement -- Del Mar FastTrac 08102010.DOC