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HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 05/18/2015 I+ Corpus Christi 1201 Leopard Street ,,, 47 1 Corpus Christi,TX 78401 `` cctexas.com .� Meeting Minutes Corpus Christi Business and Job Development Corporation Monday,May 18,2015 4:00 PM City Council Chambers A. President Bart Braselton to call the meeting to order. President Braselton called the meeting to order. B. Call Roll President Braselton verified that a quorum of the Board was present to conduct the meeting. Present: 5- Bart Braselton, Gabriel Guerra, R. Bryan Gulley, Chris Hamilton and Debbie Lindsey-Opel C. MINUTES 1. Approval of Regular Meeting of April 20, 2015. President Braselton called for approval of the minutes.Ms.Opel made a motion to approve the minutes,seconded by Mr.Guerra and passed unanimously. F. AGENDA ITEMS: (ITEM 4) 4. De-Obligate$1,497,000 from Solid Rock Commercial Properties, Ltd. Motion to de-obligate$1,497,000 from Solid Rock Commercial Properties, Ltd. to the Type A Fund 1140 for 2015. Deputy City Manager Margie Rose informed the Board that staff would be requesting to table Item 4.Ms.Opel made a motion to table Item 4,seconded by Dr.Gulley and passed unanimously.The item was tabled. D. FINANCIAL REPORT 2. Financial Report as of March 31, 2015. President Braselton referred to Item 2.Director of Financial Services Constance Sanchez presented the sales tax report for March;cash flow statements;the commitment reports;the pro forma report for the economic development fund;detailed expenditures for the economic development fund; and the since-inception reports. Corpus Christi Page 1 Printed on 6/11/2015 INDEXED Corpus Christi Business and Job Meeting Minutes May 18,2015 Development Corporation Board members spoke regarding the following topics:sales tax projections for end of fiscal year; updates from Sam Kane including the status contract and compliance;payment to the Corpus Christi Housing Authority;and clarification on the affordable housing payments. E. CLOSED SESSION ITEMS: (ITEM 3) 3. Closed session pursuant to Section 551.087 of the Texas Government Code to discuss confidential commercial or financial information pertaining to HEB Grocery Company 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,the executive session item.The Board went into executive session.The Board returned from executive session.Emily Martinez,Corpus Christi Regional Economic Development Corporation,stated that the purpose of this item is to consider an amendment to the contract with HEB Grocery Company,L.P.for the improvements to McCampbell Road located in front of the bakery facility.The original agreement was approved in the amount of$850,000 for the reconstruction of McCampbell Road in concrete and to include all infrastructure.HEB has requested an increase in the amount, not to exceed$1.1 million,for the reconstruction of McCampbell Road including public infrastructure. City Secretary Huerta announced that Mr.Hamilton would be abstaining from the vote on this item.Ms.Opel made a motion to approve an additional amount,not to exceed$250,000,to HEB Grocery Company,L.P.for the retention of jobs,seconded by Mr.Guerra and passed unanimously. F. AGENDA ITEMS: (ITEMS 4-6) 5. $140,000 Allocation into Homebuyer's Assistance Program Motion to allocate$140,000 from the Available for Projects line item into the Homebuyer's Assistance Program. President Braselton referred to Item 5.Director of Housing and Community Development Eddie Ortega stated that the purpose of this item is to allocate an additional$140,000 from the Available for Projects line item into the Homebuyer Assistance Program,which currently has$80,000 in available funding for the rest of the fiscal year.Board members requested to address Item 6 regarding the Homebuyer Assistance Program Guidelines prior to taking action on this item.No action was taken. 6. Homebuyer Assistance Program Guidelines Discussion with possible action regarding amendment of the Corpus Christi Page 2 Printed on 6/11/2015 Corpus Christi Business and Job Meeting Minutes May 18,2015 Development Corporation Homebuyer Assistance Program Guidelines. President Braselton referred to Item 6.Director of Housing and Community Development Eddie Ortega stated that the purpose of this item is to discuss amendments to the homebuyer assistance program guidelines.Mr.Ortega provided information on the following options:taking no action and keeping the current$20,000 deferred forgivable loan amount;providing a deferred forgivable loan in the amount of$10,000 of the purchase price;or providing a deferred forgivable loan in the amount of either 10%or 5%of the purchase price.Board members spoke regarding the following topics:creating a mechanism that maximizes funding to leverage the affordable housing programs;the obstacles that prevent interested homeowners from purchasing an existing home;other City programs that assist with funding;Type A fund assisting with the buy down on the purchase price;the definition of affordability;payment to income components;an option that would assist 50 homeowners in down payment assistance;development of a gap analysis (incentive)program;a breakdown on the average home values that have been funded;options to target price ranges or income levels;capping the price of homes;creating a maximum of sales price or down payment option; providing a chart on income levels.There was a consensus of the Board to have staff come back with a recommendation that includes a percentage of the sale price to each qualified homebuyer with a cap.No action was taken on Items 5 and 6. G. PRESENTATION ITEMS: (ITEMS 7-10) 7. Update-Small Business Assistance Programs for FY 2016 President Braselton referred to Item 7.Mike Culbertson,Corpus Christi Regional Economic Development Corporation,stated that the purpose of this item is to request direction on the small business assistance programs to prepare the upcoming budget.Mr.Culbertson provided an overview of the small business programs and said he is going to request that the internship contracts for Del Mar College and Texas A&M University-Corpus Christi be extended to December to be in line with the calendar year.Board members spoke regarding the following topics:reporting measures for the internship program; reevlauating the internship programs to include additional expectations;and researching intern salaries. 8. Update -Communication Initiatives President Braselton referred to Item 8.Director of Communications Kim Womack stated that the purpose of this item is to provide an update on the communications initiatives.Ms.Womack reported on the following outcomes of the subcommittee meeting:including the retreat binder information on the website;creating electronic brand signage;continue to raise public awareness;and meeting with board members individually to request that they contact previous grantees to encourage branding.Ms.Opel updated the Board on her communications with Del Mar College.Board members spoke regarding the following topics:the timeframe for the website completion;approval of the electronic branding designs; improvements to make the website ADA compliant;and the use of funds for promotional use. Corpus Christi Page 3 Printed on 6/11/2015 Corpus Christi Business and Job Meeting Minutes May 18,2015 Development Corporation 9. Update-Capital Programs Monthly Project Report President Braselton referred to Item 9.Director of Capital Programs Jeff Edmonds provided an update on the following capital programs projects:Salt Flats Levee Project/FEMA mapping;Barge Dock Project;the Miradores Project; and the maintenance program for Type A projects.Deputy City Manager Rose reported that at the request of a council member,the entire City Council was provided information on the eligibility to use Type A funds for the maintenance of the Miradores and the total cost for annual maintenance.Board members spoke regarding the following topics:the Miradores maintenance;the Parks Department's supplemental budget request in their 2016 Operational Budget to maintain the seawall;the option to have a maintenance agreement with other entities interested in maintaining the seawall;and future updates on the City budget process. 10. Update-Affordable Housing Programs President Braselton referred to Item 10.Director of Housing and Community Development Eddie Ortega provided a brief update on the affordable housing programs. H. EXECUTIVE DIRECTOR COMMENTS: 'April 7, 2015 Workshop President Braselton referred to Executive Director Comments.Deputy City Manager Rose referred to the Joint Workshop on April 7th between the Type A Board,City Council,and EDC and stated that staff is requesting that the Type A Board share in the cost associated with the expenditures from that meeting. There was a consensus of the Board to present the action at the June meeting. Ms.Rose reported that the EDC has developed proposed amendments to the Type A guidelines and will present them at the June meeting. I. PUBLIC COMMENT None. J. IDENTIFY FUTURE AGENDA ITEMS None. K. ADJOURNMENT The meeting was adjourned at 6:24 p.m. Corpus Christi Page 4 Printed on 6/11/2015 Corpus Christi Business and Job Meeting Minutes May 18,2015 Development Corporation *Regardless of the agenda heading under which any item is listed,any word or phrase of any item listed on this agenda shall be considered a subject for consideration for purposes of the Texas Open Meetings Act and other relevant laws,and the Board of Directors may deliberate and vote upon any such subject and resolutions related thereto.Any descriptions of property or amounts stated in this agenda are descriptive and not restrictive,and property and amounts may be changed in the motions, actions or documents.In addition to other items listed in this agenda,policies and procedures of this corporation,legal analysis of any items,policies or procedures,and any items that are currently receiving funding from this corporation may be discussed and deliberated and these matters are added as subjects of discussion to this meeting. This agenda has been reviewed and approved by the attorney for the governing body,and the presence of any subject or description in the Executive Session portion of this agenda constitutes a written interpretation of Chapter 551 of the Texas Local Government Code by the attorney for this corporation indicating that said subject or description thereof may be legally discussed in a closed meeting. Corpus Christi Page 5 Printed on 6/11/2015