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HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 06/21/2010~a MINUTES CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION {TYPE A) REGULAR MEETING CITY HALL - COUNCIL CHAMBER5 JUNE 21, 2010 - 3:00 P.M. PRESENT: Members: Eloy Salazar, President Adolfo (Butch) Escobedo (Arrived at 3:14 p.m.) Foster Edwards Robert Tamez ABSENT: Brad Lomax Stafif: Y- Angel R. Escobar, Executive Director Armando Chapa, Secretary Carlos Valdez, 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 3:10 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 May 17, 2010, seconded by Mr. Edwards and passed (Escobedo and Lomax absent). D. Closed Session -None. 2. Financial Report -Interim Director of Financial Services Constance Sanchez presented the sales tax report updated through April sales, May collections, and June allocations, the cash flow statements, and inception reports far the arena, seawall, and economic development funds; and the commitment reports for the economic development fund. The following topics pertaining to this item were discussed: the allowable expenditures far the seawall fund; the salt flats levee system; whether the cash #low statement reflects the preventative maintenance for the seawall; and the status of the Bayshore Technologies project and the Texas A & M University -Corpus Christi Mechanical Engineering program. President Salazar requested an update from the Corpus Christi Regional Economic Development Corporation on the Bayshore Technologies project. A motion was made by Mr. Edwards to approve the financial-report,-seconded by Mr. Escobedo and passed (Lomax absent). 3. Motion authorizing the first amendment #o the Business Incentive Agreement be#ween the Corpus Christi Business _and_ Job Development Corporation and Texas A & M University -Corpus Christi for Development of the Coastal Bend Business Innovation Center "CBBIC" a Business Incubator relatin to the location of the CBBIC. - Dr. Trent Hill, Texas A & M University-Corpus Christi (TAMUCC), stated that TAMUCC is requesting to change the location ofi the facility for the CBBIC from a building on Ayers Street to a property located at 10201 South Padre Island Drive. Dr. Hill provided information on the facility and the purchasing process. Type A Meeting June 21, 2010 -- Page 2 Rick Bell provided an update on the CBBIC including the data collected from the companies involved in the CBBIC and information on the building. The following topics pertaining to this item were discussed: the square footage of the building; whether Wells Fargo will lease a portion of the building; the status of the program; matching funds from TAMUCC to operate the facility; and the timetable to receive funding from the TAMU Board of Regents. Mr. Edwards made a motion to approve the first amendment to the agreement, seconded by Mr. Tamez {Lomax absent). 4. Motion aUthorizina the expenditure_ of $12.500 from the American Bank Center Arena Co-Promotion Fund to secure the 2010 Texas Democratic Part Convention to the Arena and City -John Meyer, SMG-American Bank Center, stated that the Corpus Christi Convention and Visitors Bureau {CVB) is asking far $12,500 to fill a commitment made to the Texas Democratic Party. Keith Arnold, CVB, stated that the CVB committed $25,000, with the CVB proposing to pay $12,500, to help with the costs associated with the arena and transportation to move the delegates around the City. Mr. Arnold added that the convention will be a huge economic benefit to the City. President Salazar announced that Mr. Tamez would abstain from the vote on this item. Mr. Escobedo made a motion to authorize the expenditure of $12,500 to secure the 2010 Texas Democratic Party Convention, seconded by Mr. Edwards and passed (Tamez abstained; Lomax absent). 5. Motion authorizin the ex enditure of 1D OOD from the American Bank Center Arena MarketinalCo-Promotion Fund to secure the University Interscholastic Leaaue 2011 Reaion 4-3A Regional Hiah School Basketball Tournament to the Arena and Cit 6. Motion authorizin the ex enditure of 10 OOD from the American Bank Center Arena MarketinalCo-Promotion Fund to secure the University Interscholastic Leaaue 2012 Reaion 4-3A Regional Hiah School Basketball Tournament to the Arena and Cit . -President Salazar announced that Items 5 and 6 would be discussed and approved jointly. Russ Myers, SMG-American Bank Center, stated that the UIL is requesting $10,000 for the 2011 and 2012 championship seasons to offset the operating casts for the arena. Mr. Meyers added that the UIL brings 15,000 visitors to the City annually. Keith Arnold, CVB, stated that the City is being considered far other UIL events based on the continuous successful hosting of the events the City sponsors currently. President Salazar announced that Mr. Tamez would abstain from the vote on these items. Mr. Edwards made a motion to authorize the expenditure of $20,000 from the American Bank Center Arena MarketinglCo-Promotion Fund to secure the University Interscholastic League 2011 and 2012 Region 4-3A Regional High School Basketball Tournament to the Arena and City, seconded by Mr. Escobedo and passed (Tamez abstained; Lomax absent). Type A Meeting June 21, 2010 -Page 3 7., 8., 9. Affordable Housing Funds -President Salazar opened discussion on Items 7, 8, and 9 regarding the Affordable Housing funds. Director of Neighborhood Services Eddie Ortega stated that staff is recommending the allocation of $250,000 for the new construction program; $250,000 far the new existing housing program; and $100,000 for other affordable housing projects (Request for Proposal process}. Mr. Ortega provided a brief presentation on the new CCBJDC existing housing program. The following topics pertaining to this item were discussed: whether the additional $352,000 of unspent funds from previous years can be utilized for reallocation; the annually allocation of $500,000; the Request for Proposal (RFP) process; the status of the new construction program; expansion of the new construction program; the existing housing inventory guidelines and criteria; the leveraging of existing HOME funds for the existing housing program; the term of affordability for the existing housing program; whether smaller builders can utilize the new construction program rather than apply for funding through the RFP process; staff involvement for the RFP process; if the Board can approve the allocation of the $352,000 subject to approval from legal counsel; and the ability to reprogram funds if the programs are not successful. Mr. Edwards made a motion to amend Items 7 and 8 by allocating the $100,000 from Item 9 and increase the funding for Item 7 in the amount of $50,000 and Item 8 in the amount of $50,000 fior a total of $250,000 each, seconded by Mr. Tamez and passed (Lomax absent). 7. Motion allocating $250,000 from the Corpus Christi Business and Jab Development Corporation's Fiscal Year 2410-2011 Affordable Housing Funds for the Corporation's New Construction Program. The foregoing motion was passed and approved as amended with the following vote: Salazar, Edwards, Escobedo, and Tamez, voting "Aye"; Lomax was absent. 8. Motion establishing the Corpus Christi Business and Job Development Corporation's Existing Housing Inventory Down Payment Assistance Program {"CCBJDC Existing Housing Program") and allocating $250,000 from the Corpus Christi Business and Job Development Corporation's Fiscal Year 2010-2011 Affordable Housing Funds for the CCBJDC Existing Housing Program. The foregoing motion was passed and approved as amended with the following vote: Salazar, Edwards, Escobedo, and Tamez, voting "Aye"; Lomax was absent. 9. , ^rr.,a~.~e~~~+~ ~,~+;nQn~l Veer 7f11 f1_7hi /lffnrr-1~hlrn I-In~~ninrv Cain.-ln fnr nFhnr .~fFr.rrl.. i.l.~. "~ Y -- This item was not approved and the $100,000 recommendation allocation for this program was reallocated to the New Construction Program in the amount of $50,000 and the CCBJDC Existing Housing Program in the amount of $50,000. n ` Type A Meeting June 21, 2010 -Page 4 10. Motion to a rove the 2010-2011 o eratin bud et as amended. -Interim Assistant City Manager Cindy O'Brien provided an explanation of the expenditure changes made to the operating budget. The following topics pertaining to this item were discussed: whether any expenditures have been made to repair or maintain the seawall; the maintenance plan for the seawall; the proposed beginning balance and total funds available for the arena fund; the property insurance for the arena; the reduction amount for windstorm insurance far the arena; the performance audit far SMG; an update on the transition of Centerplate to SMG; the deletion of the Bayshore Technologies project; the Del Mar Fast Track Growth Venture; the City Council's non-committal for additional seawall improvements and consideration to redirect the seawall #unds to use for s#reet maintenance; and the barge dock project. President Salazar requested a report on the maintenance plan and monitoring process for the seawall. Mr. Edwards made a motion to approve the operating budget as amended, seconded by Mr. Tamez and passed (Lomax absent}. 11. Status Report -Arena Capital Improvemen# Project -Kim Gregory, Director of Finance -SMG, provided an update on the capital improvements including the items approved for expenditure; the amount budgeted; the amount paid; and the current status of the project. The following topics pertaining to this item were discussed: the auxiliary scoreboard; the location of the marquee; whether the marquee can be used to sell ads for marketing; and storage for the arena. H. Public Comment: None. Adjournment: There being no other business to come before the board, President Salazar adjourned the meeting at 5:08 p.m.