HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 04/18/2011MINUTES
CORPUS CHRIST] BUSINESS AND JOB DEVELOPMENT CORPORATION (TYPE A)
REGULAR MEETING
CITY HALL — COUNCIL CHAMBERS
APRIL 18, 2011 -- 3:00 P.M.
PRESENT:
Members
Eloy Salazar, President
Brad Lomax, Vice President
Foster Edwards
Adolfo (Butch) Escobedo
Robert Tamez
Staff
Margie Rose, Executive Director
Mary Juarez, Assistant Secretary
Carlos Valdez, City Attorney
Constance Sanchez, Finance
Mike Culbertson, 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.
Approval of Minutes - Mr. Edwards made a motion to approve the Regular minutes of
February 21, 2011, seconded by Mr. Tamez and passed.
2. Closed meeting under §551.087 of the Texas Government Code to discuss or
deliberate. regarding commercial or financial information pertaining to Proiect
Steel 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 negotiations, with possible discussion and action in open
session. - President Salazar announced the closed session. The Corporation went into
closed session. The Corporation returned from closed session. Mike Culbertson, Corpus
Christi Regional Economic Development Corporation, introduced Commercial Metals
Company representatives Don Schwab and Joe McGraw who were available to respond
to questions. Mr. Culbertson explained that Commercial Metals Company is a steel
production and recycling company interested in creating a business on Hwy 44 and
Blanco Road. Mr. Culbertson provided information on the investment in capital
improvements; retention and creation of jobs; and the performance based contract.
The following topics pertaining to this item were discussed: zoning and purchase of the
property.
Mr. Lomax made a motion authorizing the President to execute a Business Incentive
Agreement with Commercial Metals Company that will award grants of up to $132,600, if
Commercial Metals Company invests $20 million in capital improvements and equipment
and retains at least 39 existing jobs and creates at least 12 new jobs, with an average
annual salary of at least $35,154 over a 5 year period and appropriating the amount
needed to fund the grant from the Corporation's available economic development funds.
This motion is contingent upon approval of the final agreement which has been executed
by Commercial Metals Company by the City Council. The motion was seconded by Mr.
Tamez and passed.
INMEXED
Type A Meeting
April 18, 2011 -- Page 2
3. Financial Report - Interim Director of Financial Services Constance Sanchez presented
the sales tax report updated through March; the cash flow statements; and the
commitment reports for the economic development fund.
The following topics pertaining to this item were discussed: the audit adjustment in
March; the comparison of year to date sales tax; the RFP for affordable housing for
funds available to award; items pending Council approval; and the status of the ACCION
contract.
A motion was made by Mr. Edwards to approve the financial report, seconded by Mr.
Lomax and passed.
4. Motion authorizing the expenditure of $15.000 from the American Bank Center
Arena Market! n Co- Promotion Fund for Destination Ima iNation's Academic
State Tournament & Awards Ceremony in March 2012. — Donna Canatella, Director
of Sales at the American Bank Center (ABC), explained that this item is a request from
SMG for funding in the amount of $15,000 from the Arena Marketing/Co- Promotion fund
to encourage Destination ImagiNation to return to Corpus Christi and confirm their event
at the Arena in March 2012 and future years. Ms. Canatella provided information on
estimated total attendance for the event; the estimated number of room nights; and the
economic impact.
The following topics pertaining to this item were discussed: where Destination
ImagiNation has held the event since 2005; requesting that SMG ask for Destination
ImagiNation to consider signing a contract for a one or multiyear period; and the balance
of the co- marketing fund.
Mr. Edwards made a motion authorizing the expenditure of $15,000 from the American
Bank Center Arena Marketing /Co- Promotion Fund for Destination lmagiNation's
Academic State Tournament & Awards Ceremony in March 2012, seconded by Mr.
Lomax and passed.
5. Annual Compliance Report for Del Mar College's__ Fastrac Growth Venture
Agreem — Mike Culbertson, EDC, reported that Del Mar College is in full compliance
of the contract and provided statistics on the amount of the grant and the amount of
invoices. Mr. Culbertson stated that the program has a balance of $65,000 that will come
back to the fund.
6. Annual Compliance Report for Turner Industries Group, LLC. — Mr. Culbertson,
EDC, provided information on Turner Industries including the contracted and actual
amount of capital investment; the retained and additional jobs and the gross annual
payroll. Mr. Culbertson reported that Turner Industries Group was not in compliance with
the agreement for additional employment and gross annual payroll and will not receive
any funding for Year 2.
The following topics pertaining to this item were discussed: funding for Turner Industries
should they met cumulative levels for Years 2 and 3 and the vacant positions listed
under retained jobs.
Type A Meeting
April 18, 2011 - Page 3
G. Public Comment - None.
Mr. Tamez requested an item at the next meeting on the following items: a status of the
Arena capital improvement projects and a legal interpretation on the reason that
nonprofits can not utilize the internship programs. Mr. Escobedo requested a status
report on the performance audit for SMG.
H. Adjournment There being no other business to come before the board, President
Salazar adjourned the meeting at 3:59 p.m.