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.
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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.