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HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 04/19/2010MINUTES CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION (TYPE A) REGULAR MEETING CITY HALL -COUNCIL CHAMBERS APRIL 19, 2010 - 3:00 P.M. PRESENT: Members: Eloy Salazar, President Brad Lomax, Vice President Foster Edwards Adolfo (Butch) Escobedo ABSENT: Robert Tamez Staff: Angel R. Escobar, Executive Director Armando Chapa, Secretary Lisa Aguilar, Assistant City Attorney Cindy O'Brien, Interim Asst. City Manager Margie Rose, Assistant City Manager Emily Martinez, Economic Development A. Called meeting to order -President Salazar called the meeting to order at 3:08 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. Lomax requested that the minutes be amended to change the word "ice" to "life" on the discussion on Item 2. Mr. Lomax made a motion to approve the minutes as amended of March 22, 2010, seconded by Mr. Edwards and passed (Tamez absent). D. r~"~°''~ ~.~nil.yi;~fia°cr~~~~~7 ~f fhe Tnv~c r~+verr~w~er~~ P`~ile 4~ di~n~~~~ ~r vTarava -~-vrcrra, rv~azra~v~ ~~ r v del+beFate~^-ceer~ial e~nansial--infermazien ~cr~'r'~ch~ Q^°r'~ ~"~ rensi~ie~d fr~rr~ ~r fn dnlih ~ ~L, ff nF ^~+ r n4 s sra~ivs fn ~ r~v~~.-nor-~v~.cRAerase ~e~,Ter vr~-fi,Tansi~al er-vrhGr ins~.~-~v~ *h wrap ~ui~h •uhii+l+ 4he f ~rr~~r~4i~n ic_t~~+n~1~~n~ineY sn~n~w+iw rle~iel~r~w~er~~ M r Executive Director Escobar announced that the closed session was withdrawn. 2. Financial Report -Interim Director of Finance Constance Sanchez presented the sales tax report updated through February sales, March collections, and April allocations for the arena, seawall, and economic development funds; the cash flow statements; and the commitment reports for the economic development fund. The following topics pertaining to this item were discussed: an explanation and breakdown of the sales tax audit adjustment through the Texas Comptroller's Office; the City's total sales tax; the sales tax projections for April through July; the budget; and an explanation of Bayshore Technologies. The Board directed staff to provide a copy of the breakdown of the sales tax audit adjustment by the end of the meeting. ~~~~~ Type A Meeting April 19, 2010 -Page 2 3. Discussion and possible action repardinq the direction for utilization of the annually allocated $500 000 for the Affordable Housing Program, including earmarking funds for housinp projects/programs solicited through the Request for Proposal process allocation to the Builder's New Construction Program, or a combination of the two. -Director of Neighborhood Services Eddie Ortega explained that this item is being presented to discuss and receive feedback on whether to continue the allocation of $250,000 to the new construction program and continue with a RFP process for the additional $250,000 for next fiscal year. Mr. Ortega stated that currently $240,000 of the $250,000 for the new construction program has been committed and the program is very successful. Mr. Ortega stated that there is a balance of $166,501 of unspent affordable housing funds that could be reprogrammed. Bart Braselton, Braselton Homes, spoke regarding the success of the new construction program. The following topics pertaining to this item were discussed: the changes made to the guidelines for the new construction program; the unspent affordable housing funds; lot costs; the Cottage District Ordinance; infill lots; and the homebuyer assistance program. Mr. Escobedo made a motion to reallocate the remaining unallocated balance of $166,501 to the new construction program, seconded by Mr. Lomax and passed (Tamez absent). Mr. Ortega asked whether the Board would like to discuss the options for proceeding with the allocation for next year. President Salazar requested that staff provide information on the current balances for the affordable housing program for discussion at the next meeting. No action was taken on this item. 4. Discussion of Median Purchase Price to be used for the Affordable Housin Program -Director of Neighborhood Services Eddie Ortega stated that the median purchase price designated by the Secretary of Housing and Urban Development (HUD) for the Corpus Christi Metropolitan Statistical Area is $135,375 with a 95% median purchase price of $128,606. 5. Report on Turner Industries Compliance -Mike Culberson, Corpus Christi Regional Economic Development Corporation, provided a brief overview of the compliance report on Turner Industries including the gross capital investment; job requirements; job creation and retention; and annual payroll. Mr. Culberson also provided information on the local contractors used for the project. 6. Report on First American Corporation - J.J. Johnston, Corpus Christi Regional Economic Development Corporation, stated that First American Corporation has decided not to move forward on the call center project anywhere, including Corpus Christi, and has asked to de-obligate the $1.2 million incentive. In response to President Salazar, Ms. Martinez stated that the funds were not included in the commitment report provided as part of in the financial report. Type A Meeting April 19, 2010 -Page 3 2. Financial Report -President Salazar returned to the discussion on Item 2. Interim Director of Finance Constance Sanchez provided the breakdown of the sales tax adjustment. A motion was made by Mr. Lomax to approve the financial report, seconded by Mr. Escobedo and passed (Tamez absent). H. Public Comment: None. I. Adjournment: There being no other business to come before the board, President Salazar adjourned the meeting at 3:55 p.m.