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HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 03/22/2010MINUTES CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION (TYPE A) REGULAR MEETING CITY HALL -BASEMENT TRAINING ROOM MARCH 22, 2010 - 3:00 P.M. PRESENT: Members: Eloy Salazar, President Brad Lomax, Vice President Foster Edwards (Arrived at 3:05 p.m.) Adolfo (Butch) Escobedo Robert Tamez Staff: Angel R. Escobar, Executive Director Armando Chapa, Secretary Carlos Valdez, City Attorney Jay Reining, Assistant City Attorney Cindy O'Brien, Interim Asst. City Manager Margie Rose, Assistant City Manager A. Called meeting to order -President Salazar called the meeting to order at 3:03 p.m. B. Roll Call - President Salazar verified that the necessary quorum of the Board were present to conduct the meeting. C. Approval of Minutes - Mr. Tamez made a motion to approve the minutes of February 15, 2010, seconded by Mr. Escobedo and passed. 2. Closed session under &551.087 of the Texas Government Code to discuss or deliberate reaarding commercial or financial information that the Board has received from, or to deliberate the offer of a financial or other incentive to, a business prospect that the Board seeks to have locate, stay, or expand in or near the city and with which the Corporation is conducting economic development negotiations, with possible discussion and action in open session. Ice Rays First American Corporation President Salazar announced the closed session. The Corporation went into closed session. The Corporation returned from closed session. President Salazar announced that no action was taken on First American Corporation. President Salazar asked for comments from the owners of the Corpus Christi Ice Rays. Pat Dunn, Vice President/General Manager and Brent Chesney, Vice President/General Counsel spoke regarding the business plan and financials submitted during the closed session. Mr. Chesney said the funding would be used to upgrade and increase sales efforts through additional sales staff; provide a better quality of life; and become more involved with the community. The following topics pertaining to this item were discussed: the arrangement with the Hooks organization; whether the Ice Rays manage any aspect of the American Bank Center facility; the aspects of the business plan; how additional staffing would improve and generate sales; the number of staff that will be added and their salaries; the cost to put a better product on the ice; the deadline presented to the Board; the precedence this funding would present for other tenants of the arena; consideration of an incentive based subsidy; the return on investment; the cost to the Ice Rays organization to practice in lNDEXF® Type A Meeting March 22, 2010 -Page 2 out-of-town facilities; historical data on attendance and revenues; and the percentage of revenues the Ice Rays receive from concessions and parking. Mr. Lomax made a motion to request that Double Puck provide for consideration by the Board and SMG an incentive based, self-funding financial plan that provides relief towards the $400,000 requested. The motion was seconded by Mr. Edwards and passed. Mr. Chesney stated for the record that he was appearing in his own personal capacity as a private citizen and not in his capacity as a city council member. 4. Motion approving the Business Incentive Aqreement between the Corpus Christi Business and Job Development Corporation and Coastal Bend Workforce Development Board for Promotion of the Small Business Student Intern Programs at Texas A & M University -Corpus Christi and Del Mar College -There was no discussion on this item. Mr. Tamez made a motion to approve the business incentive agreement, seconded by Mr. Escobedo and passed. 5. Motion authorizina the Second Amendment to the Affordable Housing Program Aqreement between the Corpus Christi Business and Job Development Corporation, the City of Corpus Christi, and Vanguard Hall Consulting Firm, Inc., for a homebuyer assistance project to increase the authorized rang of sale prices of the single family homes from "85,000 to $95,000" to "$109,000 to $119,605". - Director of Neighborhood Services Eddie Ortega explained that Vanguard is requesting to increase the sales price for the range of homes. Patricia Noyola, Vanguard Hall Consulting Firm, spoke regarding the request for the increase in sales price for the range of homes. Ms. Noyola also addressed communications with staff regarding the changes in the sales price limit. The following topics pertaining to this item were discussed: inconsistencies in the sales price limit; federal guidelines; whether the median price could be determined at the time a contract is signed; and the median family income. A brief discussion ensued regarding the median price for homes and guidelines set by HUD. Mr. Ortega stated that staff would be providing a future agenda item to establish a set median purchase price. Mr. Edwards made a motion the amend the motion to authorize the Second Amendment to the Affordable Housing Program Agreement between the Corpus Christi Business and Job Development Corporation, the City of Corpus Christi, and Vanguard Hall Consulting Firm, Inc., for a homebuyer assistance project to increase the authorized rang of sale prices of the single family homes from "85,000 to $95,000" to the maximum price set by HUD ($128,606). The motion was seconded by Mr. Escobedo and passed. 3. Financial Report -Interim Assistant City Manager Cindy O'Brien presented the sales tax report updated through January sales, February collections, and March allocations; cash flow statements; and inception reports for the arena, seawall, and economic development funds. Type A Meeting March 22, 2010 -Page 3 A motion was made by Mr. Lomax to approve the financial report, seconded by Mr. Escobedo and passed. 6. Discuss the utilization of funds for recruiting new employees and new lobs to Corpus Christi - Mr. Edwards stated that he requested this item to see if the Board could develop a website or print information with an overview of Corpus Christi for recruitment of people to the City. Interim Director of Economic Development Emily Martinez stated that the Economic Development Office is in the process of launching a new website promoting the assets and incentives offered in the City. Mr. Edwards clarified that the proposed website should include the assets in the community and reasons why someone would want to live in Corpus Christi. Assistant City Attorney Jay Reining stated that funds can be spent on promotional activities. President Salazar nominated Mr. Edwards and Mr. Escobedo to compile examples for the development of a promotional idea to bring to the Board for recommendation. H. Public Comment: None. Adjournment: There being no other business to come before the board, President Salazar adjourned the meeting at 5:43 p.m.