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).
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Executive Director Escobar announced that the closed session was withdrawn.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.
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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.