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HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 11/15/2010MINUTES CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION (TYPE A) REGULAR MEETING CITY HALL -COUNCIL CHAMBERS NOVEMBER 15, 2010 - 3:00 P.M. PRESENT: Members: Eloy Salazar, President Brad Lomax, Vice President Adolfo (Butch} Escobedo Robert Tamez ABSENT Foster Edwards Staff: T 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 3:05 p.m. B. Roll Call - President Salazar verified that the necessary quorum of the Board were present to conduct the meeting. 1.& 2. Approval ofi Minutes - Mr. Tamez made a motion to approve the Regular minutes of October 1 S, 2010, and Special minutes of October 25, 2010, seconded by Mr. Escobedo and passed (Edwards absent). 3. Closed meeting under §551.087 of the Texas Government Code to discuss ar deliberate regarding commercial or financial information pertaining to TAMUCC Proiect 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 neaotiations, with possible discussion and action in open session. 4. Closed meetina under §551.087 of the Texas ._Go~ernment_ Code to discuss or deliberate regarding commercial or financial information pertaining to Proiect Boats 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, stav. 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. President Salazar announced the closed sessions. The Corporation went into closed session. The Corporation returned from closed session. President Salazar announced that no action would be taken in open session and stated that the Board requested additional information on Item 3 regarding the TAMUCC Project to discuss at a possible special meeting on November 29'h. 5. Financiak Report -Interim Director of Financial Services Constance Sanchez presented the sales tax report updated through September sales, October collections, and November allocations; the cash flow statements; and the commitment reports for the economic development fund. n~~a Type A Meeting November 15, 2010 -Page 2 The following topics pertaining to this item were discussed: the unspent affordable housing balance in the amount of $352,500 and the accrued interest for the sales tax. A motion was made by Mr. Lomax to approve the financial report, seconded by Mr. Tamez and passed {Edwards absent). 6. Com fiance Re art on Del Mar Colle a intern Pra ram for FY09-10. -Mike Culberson, Corpus Christi Regional Economic Development Corporation {EDC), provided a brief overview of the compliance report including the term of the agreement; the amount of the grant; the amount of invoices; the number of placed interns and the creation of full time jobs. Mr. Culberson stated that Del Mar College Intern Program was in compliance of their agreement. 7. Com fiance Re ort on Texas A & M Unlversit Intern Pro ram for FY09-10. - Mr. Culberson provided an overview of the compliance report including the number of interns placed; the goal for the program; and the creation of two {2) full time jobs. Mr. Culberson reported that the TAMUCC intern program has me# the requirements of the contract and are in compliance. The following topics pertaining to this item were discussed: concern with the amount of full time jobs created and what would happen if to the remaining funds not used by the program. 8. Compliance Report on SCORE Chap#er 221 Small Business Assistance Program for FY09-10. - Mr. Culberson reported that SCORE was in full compliance and has used all of the funds provided. The following topics pertaining to this item were discussed: how SCORE markets its services and a request to provide the names of the business owners that use the program. 9. Compliance Report on Workforce Solutions Intern program for FY09-10 -- Mr. Culberson reported that Workforce is in compliance with the agreement and provided information on the goals of the program; the number of companies contacted far the intern programs and interested companies forwarded to the intern programs. The following topic pertaining to this item was discussed: if the audit is affected because Del Mar and TAMU-CC don't track the effectiveness of the work performed by Workforce The Board requested backup information from the two intern programs to track the effectiveness of this contract to the programs. 10. Compliance Report on Accion Interest Buy-Down Program for FY09-10. - Mr. Culberson stated that his review included a detailed analysis of the amount of the loan; the buydown; and the amount of business assisted. Mr. Culberson reported that ACCION was in full compliance of the contract. Type A Meeting November 15, 20~ Q -Rage 3 President Salazar recognized American Bank for providing the capital for this program and requested that staff submit a letter from the Board thanking American Bank for their assistance to this program. 6-10. Mr. Tamez made a motion to accept the compliance reports for Del Mar Intern Program; TAMU-CC Intern Program; SCORE Chapter 221; Workforce Solutions Intern program, and ACCION Interest Buy-Down Program, seconded by Mr. Escobedo and passed (Edwards absent). 11. Discussion and possible action regarding acceptance of guidelines for use of $250.OOD affordable housing allocation for an Existing Home Inventory Program. - Director of Neighborhood Services Eddie Ortega provided a brief overview of the new existing home inventory program including the purpose of the program; the income guidelines; the amount of the forgivable loan payable over 5 years; the housing standards; lender and title company requirements; and the income limits used. The following topics pertaining to this item were discussed: the amount of the deferred forgivable loan of $20,000; the term of affordability for 5 years; the $2,ODD forgivable loan rate per year for every year. Mr. Lomax made a motion to approve the existing home inventory program and amend the guidelines changing the forgivable loan amount to $4,000, seconded by Mr. Tamez and passed (Edwards absent}. (Note: This motion was reconsidered during the discussion on Item t2.} 12. Discussion and possible action regarding continuation of guidelines for use of $250,000 affordable housing allocation for the Builder's New__Cons_t_ruction Program. - Mr. Ortega explained that the guidelines are similar to the existing home inventory program; however, the term of affordability is for 10 years. Mr. Ortega stated that the program is currently in existence. The following topics pertaining to this item were discussed; the reason the term of affordability is different for the two programs; and the HOME matching funds. Housing Manager Hector Vallejo recommended that both programs term of affordability be identical. Mr. Lomax made a motion to reconsider Item 11, seconded by Mr. Tamez and passed (Edwards absent), Mr. Tamez made a motion approving the Existing Home Inventory Program and amending the term of affordability to 10 years with a $2,000 a year forgivable loan, seconded by Mr. Lomax and passed (Edwards absent}. Mr. Tamez made a motion to approve the Builder's New Construction program as presented, seconded by Mr. Lomax and passed Type A Meeting November 15, 2010 -Page 4 13. Discussion and ossible action re ardin Re uest for Pro osals re ardin use of $352,500 balance of unspent affordable housing allocation funds for affordable housing programs. - Mr. Ortega stated that staff is recommending soliciting affordable housing projects through a request for proposal (RFP) process to award the $352,500 of unspent affordable housing allocation funds. Mr. Lomax made a motion to approve the RFP process for soliciting affordable housing projects, seconded by Mr. Tamez and passed (Edwards absent). 14. Discussion and possible action reaarding the regular December 20. 2010 meeting date. -- A brief discussion ensued regarding the cancellation of the meeting of December 20 and holding a special meeting on November 29th to discuss Charlie's Place. Mr. Tamez made a motion to cancel the regular meeting of December 20, 2010 and hold a special meeting on November 29, 2010 at 3:00 p.m. H. Public Comment: -None. Ad'ournment: There being no other business to come before the board, President Salazar adjourned the meeting at 4:36 p.m.