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Home My WebLink AboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 03/09/2015 Cornus Christi 1201 Leopard Street � M Corpus Christi,TX 78401 F yy cctexas.com r \° r, Meeting Minutes Corpus Christi Business and Job Development Corporation Monday,March 9,2015 3:00 PM City Council Chambers A. President Bart Braselton to call the meeting to order. Vice President Gulley called the meeting to order at 3:03 p.m. B. Call Roll Vice President Gulley verified that a quorum of the Board was present to conduct the meeting. (Mr.Guerra arrived at 3:04 p.m.President Braselton arrived at 3:14 p.m.) Present: 5- Bart Braselton, Gabriel Guerra, R. Bryan Gulley, Chris Hamilton and Debbie Lindsey-Opel C. MINUTES 1. Approval of Regular Meeting of February 16, 2015. Vice President Gulley referred to approval of the minutes.Ms.Opel made a motion to approve the minutes,seconded by Mr.Hamilton and passed unanimously(Braselton and Guerra were absent). D. FINANCIAL REPORT: (NONE) F. AGENDA ITEMS: (ITEM 4) 4. Arena Marketing Co-Promotion Fund Request for Corpus Christi Coastal Classic Basketball Tournament Motion authorizing the expenditure of$60,000 from American Bank Center Arena Marketing Co-Promotion Fund for Corpus Christi Coastal Classic Basketball Tournament. Vice President Gulley deviated from the agenda and referred to Item 4.Donna Cannetella,Senior Regional Director of Sales for SMG,stated that the purpose of this item is to secure authorization for the expenditure of$30,000 from the Arena Marketing Co-Promotion Fund for the November 2014 Corpus Christi Coastal Classic Basketball Tournament and to secure authorization for the expenditure of$30,000 for the same event for November 2015 for a total expenditure of$60,000.Ms.Cannetella said the funds would be used to cover the cost of the facility for one(1)practice day and two(2)event days.Mr. Corpus Christi Page 1 Printed on 4/14/2015 INDEXED Corpus Christi Business and Job Meeting Minutes March 9,2015 Development Corporation Hamilton made a motion to approve Item 4,seconded by Ms.Opel and passed (Braselton was absent). G. PRESENTATION ITEMS: (ITEMS 5-7) 5. Update -Oversight and Maintenance of Approved Projects Vice President Gulley referred to Item 5.Acting Director of Capital Programs Jerry Shoemaker stated that the Oversight and Maintenance of Approve) Projects update was included in the packet.Executive Director Rose said the report includes Whataburger Field,seawll maintenance and arena maintenance.Ms.Opel commended staff for providing this report.Mr. Shoemaker introduced Jeff Edmonds,the new Director of Capital Programs. Vice President Gulley requested that staff continue to update the Board on the seawall maintenance projects and the expenditure of funds. 6. Update -Capital Programs Monthly Project Report • Seawall Capital Repairs • Barge Dock Improvements • Salt Flat Levee System • McGee Beach Re-Nourishment • Miradores Improvements Vice President Gulley referred to Item 6.Acting Director of Capital Programs Jerry Shoemaker stated that the Capital Programs Monthly Project Update was provided in the packet.Board members spoke regarding the following topics: the Job Order Contract(JOC)for the Miradores and concerns with the costs for the McGee Beach Project. 7. Update -Type A Projects Vice President Gulley referred to Item 7.Mike Culbertson,Corpus Christi Regional Economic Development Corporation(EDC)presented the update of the small business support programs and large business incentives.Mr. Culbertson asked for consideration to change the update to a quarterly report. President Braselton requested that this item be listed on the agenda should the Board have questions.Ms.Opel asked questions regarding the disparity on funding that has been granted and funding still available.Mr.Culbertson introduced new CEO/President of the EDC,lain Vasey. E. CLOSED SESSION ITEMS: (ITEMS 2-3) President Braselton referred to the day's executive sessions.The Board went into executive session.Mr.Hamilton announced that he would be abstaining from the discussion and vote on Item 2. 2. Closed session pursuant to Section 551.087 of the Texas Government Code to discuss confidential commercial or financial information pertaining to Govind Development LLC that the Corporation seeks to have locate, stay, or expand within the City limits and with which the Corporation is conducting economic development negotiations and to deliberate possible offers of financial or other incentives to said Corpus Christi Page 2 Printed on 4/14/2015 Corpus Christi Business and Job Meeting Minutes March 9,2015 Development Corporation business prospect with discussion and possible action in open session. President Braselton referred to Item 2.Emily Martinez with the Corpus Christi Regional Economic Development Corporation stated that this item is related to Govind Development LLC.Ms.Martinez reported that Govind Development LLC has recently expanded their facility,with a capital investment of $2,000,000,to accommodate 44 new employees and retain 162 jobs. Ms. Martinez said the EDC Board approved this project in November 2014 and the Type A Board approved an incentive in the amount of$915,000 on December 11,2014 for the retention of 206 full time jobs and the creation of 44 jobs.Since that time,a letter from the company was received indicating there was an error on the application for the amount of retained jobs which would be reduced from 206 to 162.Ms.Martinez stated that the economic impact analysis indicated that the revised award would be$908,000. Ms.Opel made a motion to award 1/3 of$908,000 in Year 1 to Govind Development,LLC and the remainder over Years 2 through 5 equally for creation of 44 jobs and retention of 162 jobs,seconded by Dr.Gulley and passed.Assistant Secretary Huerta announced that Mr.Hamilton abstained from the vote on this item. 3. Closed session pursuant to Section 551.087 of the Texas Government Code to discuss confidential commercial or financial information pertaining to QSROnIine.com, Inc. that the Corporation seeks to have locate, stay, or expand within the City limits and with which the Corporation is conducting economic development negotiations and to deliberate possible offers of financial or other incentives to said business prospect with discussion and possible action in open session. President Braselton referred to Item 3.Emily Martinez with the Corpus Christi Regional Economic Development Corporation stated that this item is regarding QSROnline.com,Inc.,a local software development company that services restaurant industry.Ms.Martinez reported that QSROnline.com is expecting t increase their gross payroll from$1 million to$1.7 million over the next five years with a plan to create an additional 10 full time employees,with an average annual salary of$50,964.The company has purchased a new facility with a total capital investment of$400,000.The economic impact data analysis indicated an award of$129,500 over a five-year period. Mr.Hamilton made a motion to award$129,500 to QSROnline.com over five(5) years for creation of 10 jobs and retention of 17 jobs,seconded by Dr.Gulley and passed. H. EXECUTIVE DIRECTOR COMMENTS: Executive Director Rose reminded the Board that the Joint Meeting between the Type A Board,City Council and Corpus Christi Regional Economic Development Corporation Executive Board will be held on April 7,2015 at 1:30 p.m. PUBLIC COMMENT Corpus Christi Page 3 • Printed on 4/14/2015 Corpus Christi Business and Job Meeting Minutes March 9,2015 Development Corporation None. J. IDENTIFY FUTURE AGENDA ITEMS None. K. ADJOURNMENT The meeting was adjourned at 3:57 p.m. Corpus Christi Page 4 Printed on 4/14/2015