HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 06/17/2019 m-------,,,,
! Ci of Corpus Christi 1201 Leopard Street
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� Meeting Minutes
tof Corpus Christi B Corporation
Monday,June 17,2019 3:30 PM Council Chambers
Persons with disabilities who plan to attend this meeting and who may need auxiliary
aids or services are requested to contact the City Secretary's office(at 361-826-3105) at
least 48 hours in advance so that appropriate arrangements can be made.
The mission of the Business&Jobs Development(Type A) and B Corporations is to
promote and enhance the City of Corpus Christi's economic base by supporting
projects and programs that create primary jobs, improve small business and affordable
housing opportunities, and improve infrastructure in our City.
A. President Scott Harris to call the meeting to order.
President Scott Harris called the meeting to order at 3:35 p.m.
B. Call Roll and Excuse Absences
City Secretary Rebecca Huerta called the roll and verified that a quorum of the
Board was present to conduct the meeting.
Board Members Gabriel Guerra,Randy Maldonado and Lee Trujillo were
absent.
President Scott Harris made a motion to excuse the 4/15/19 absences for Leah
Pagan Olivarri and John Valls,seconded by Robert Tamez,and passed
unanimously.
Present 5- President Scott Harris, Board Member Leah Pagan Olivarri, Board Member
Robert Tamez, Board Member John Valls, and Council Liaison Michael
Hunter
Absent 3- Board Member Gabriel Guerra,Vice-President Randy Maldonado, and
Board Member Lee Trujillo
C. MINUTES
1. Approval of Minutes of the April 15, 2019 Regular Meeting
President Harris referred to item 1.Mr.Tamez made a motion to approve the
minutes of the April 15,2019 meeting,seconded by Mr.Harris,and passed
unanimously.(Board Members Gabriel Guerra,Randy Maldonado,and Lee
Trujillo were absent).
D. FINANCIAL REPORT
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Corpus Christi B Corporation Meeting Minutes June 17,2019
2. Type B Financial Reports as of April 30, 2019
President Harris referred to Item 2.Alma Casas,Assistant Director of Financial
Services presented the financial reports as of April 30,2019.There were no
questions from the board.
E. CLOSED SESSION ITEMS: (None)
F. AGENDA ITEMS: (3-5)
3. Motion authorizing an agreement between the Corpus Christi B
Corporation and the City of Corpus Christi for management of the
investment of Corporation funds.
President Harris referred to Item 3.Assistant City Attorney Aimee Alcorn-Reed
presented the authorization agreement between the City of Corpus Christi and
the Corpus Christi B Corporation for management of the investment of
Corporation funds.
Mr.Valls made a motion to approve the agreement,seconded by Mr.Tamez,
and passed unanimously.(Board Members Gabriel Guerra,Randy Maldonado
and Lee Trujillo were absent).
4. Resolution adopting the Investment Policy and Investment Strategy for the
Corpus Christi B Corporation
President Harris referred to Item 4.Investment Analyst Jacey Reeves presented
the Corpus Christi B Corporation Investment Policy and Investment Strategy.
Ms.Olivarri stated a full presentation was presented at the previous meeting
for the investment policy and investment strategy.
Mr.Valls made a motion approving item 4,the Investment Policy and
Investment Strategy and approving item 5 the Investment of Funds with
TexPool,seconded by Ms.Olivarri,and passed unanimously.(Board Members
Gabriel Guerra,Randy Maldonado and Lee Trujillo were absent).
5. Motion authorizing resolution for participation in TexPool investment
pools and designating authorized representatives.
Refer to item 4 for the approval of item 5.
G. PUBLIC HEARING: (None)
H. PRESENTATION ITEMS: (6-6)
6. Presentation on the Proposed FY19-20 Corpus Christi B Corporation
Budget
President Harris referred to Item 6.Director of Management and Budget Eddie
Houlihan presented the FY20 budget.
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Board Members,Mr.Houlihan,Ms.Medrano,Ms.Alcorn-Reed and Ms.Sanchez
discussed the following topics: usage of the Affordable Housing funds;
Affordable Housing work shop;allocations for administrative cost;and the
reason for the negative balance.
EXECUTIVE DIRECTOR COMMENTS:
President Harris referred to the future agenda.Executive Director Constance
Sanchez welcomed our City Manager Peter Zanoni.
J. PUBLIC COMMENT
President Harris referred to Public Comment.There were no comments from
the public.
PLEASE BE ADVISED THAT THE OPEN MEETINGS ACT PROHIBITS THE
CORPORATION FROM RESPONDING AND DISCUSSING YOUR COMMENTS AT
LENGTH.THE LAW ONLY AUTHORIZES THEM TO DO THE FOLLOWING:
1. MAKE A STATEMENT OF FACTUAL INFORMATION.
2. RECITE AN EXISTING POLICY IN RESPONSE TO THE INQUIRY.
3.ADVISE THE CITIZEN THAT THIS SUBJECT WILL BE PLACED ON AND
AGENDA
AT A LATER DATE.
K. IDENTIFY FUTURE AGENDA ITEMS
President Harris referred to the future agenda.Executive Director Constance
Sanchez identified the following future items:present the FY20 budget for
approval;allocations for administrative cost;an Affordable Housing workshop.
L. ADJOURNMENT
Mr.Valls made a motion to adjourn the meeting at 4:00 p.m.,seconded by Mr.
Tamez and passed unanimously.(Board Members Gabriel Guerra,Randy
Maldonado and Lee Trujillo were absent).
*Regardless of the agenda heading under which any item is listed,any word or phrase of any item listed on this agenda shall
be considered a subject for consideration for purposes of the Texas Open Meetings Act and other relevant laws,and the
Board of Directors may deliberate and vote upon any such subject and resolutions related thereto.Any descriptions of
property or amounts stated in this agenda are descriptive and not restrictive,and property and amounts maybe changed in
the motions,actions or documents.In addition to other items listed in this agenda,policies and procedures of this
corporation,legal analysis of any items,policies or procedures,and any items that are currently receiving funding from this
corporation may be discussed and deliberated and these matters are added as subjects of discussion to this meeting. This
agenda has been reviewed and approved by the attorney for the governing body,and the presence of any subject or
description in the Executive Session portion of this agenda constitutes a written interpretation of Chapter 551 of the Texas
Local Government Code by the attorney for this corporation indicating that said subject or description thereof may be legally
discussed in a closed meeting.
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Corpus Christi B Corporation Meeting Minutes June 17,2019
Board Members: Scott M. Harris (President), Randy L. Maldonado
(Vice-President), Lee A.Trujillo(Secretary), Michael T. Hunter(City Council
Liaison), Gabriel Guerra, Leah Pagan Olivarri, John Valls, Robert Tamez
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