HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 05/04/2012 - SpecialMINUTES
CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION (TYPE A)
SPECIAL MEETING
CITY HALL — COUNCIL CHAMBERS
MAY 4, 2012 —10:30 A. M.
PRESENT:
Members
Eloy Salazar, President
Robert Tamez, Vice President
Foster Edwards, Secretary
Adolfo (Butch) Escobedo
ABSENT
R. Bryan Gulley
Staff
Margie Rose, Assistant City Manager
Carlos Valdez, City Attorney
Armando Chapa, Assistant Secretary
A. Called meeting to order — President Salazar called the meeting to order at 10:35 a.m.
B. Roll Call - President Salazar verified that the necessary quorum of the Board were
present to conduct the meeting.
Closed session under 551.08_7 of the Texas Government Code to discuss or
deliberate regarding commercial or financial _information pertaining to Project
Chika 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 and stated that he was
recusing himself from the discussion and vote on this item due to a potential conflict of
interest. The Corporation went into closed session. The Corporation returned from
closed session. Vice President Tamez opened the floor for possible discussion and
action in open session.
Mr. Edwards made a motion to approve a grant to "Schlitterbahn" of $5,000,000 to pay
for the creation of certain infrastructure improvements allowed under Section 501.103 of
the Texas Local Government Code needed for the development of the Schlitterbahn
Waterpark, of which $2,500,000 (one -half) is to be paid upon 50% completion of
construction of the waterpark or after $5,000,000 has been spent on infrastructure costs,
whichever comes first and $2,5000,000 (one -half) upon completion of said construction,
and to amend the budget to allow for such funding and appropriating $5,000,000 from
the unreserved fund balance in Fund 1140 for the same. The motion was seconded by
Mr. Escobedo.
Vice President Tamez called for comments from the audience and the following citizens
spoke: John Kelley and Johnny French.
The foregoing motion was passed and approved with the following vote: Tamez,
Edwards, and Escobedo voting "Aye "; Salazar abstained; Gulley was absent.
G. Public Comment - None.
Adjournment There being no other business to come before the board, Vice President
Tamez adjourned the meeting at 11:54 a.m.
INDEXED,