HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 04/18/2016 7201 Leopard Street
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Meeting Minutes
Corpus Christi Business and Job Development Corporation
Monday,April 18,2016 4:00 PM City Council Chambers
A. President Bryan Gulley to call the meeting to order.
President Gulley called the meeting to order at 4:08 p.m.
B. Call Roll
President Gulley verified that a quorum of the Board was present to conduct
the meeting.
(Note:Mr.Guerra arrived at 5:24 p.m.)
C. MINUTES
1. Approval of the Minutes of the March 21, 2016 Meeting.
President Gulley referred to approval of the minutes.President Gulley noted a
scrivener's error on Item 7 for the acronym CEPRA.Ms.Opel made a motion to
approve the minutes,seconded by Mr.Braselton and passed unanimously
(Guerra-absent).
D. FINANCIAL REPORT
2. Financial Report as of February 29, 2016.
Assistant Director of Financial Services Alma Casas presented the sales tax
collections;cash flow statements;the commitment reports;and the pro forma
for the economic development fund.
Board members spoke regarding the following topics:the administrative
service charges listed on the cash flow actual statements and the transfer to
general fund listed on the cash flow estimates in the amount of$2,714.92 and
the responsibility of the insurance for the baseball stadium.
E. CLOSED SESSION ITEMS: (NONE)
F. AGENDA ITEMS: (ITEM 3)
3. Sales Tax Revenue
Discussion and possible action to address declining sales tax revenue
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in fiscal year 2015-2016.
President Gulley referred to Item 3.Assistant Director of Financial Services
Alma Casas stated that the purpose of this item is to discuss the decline in
sale tax revenues.At the March 21,2016 Type A meeting,the Board requested
to receive information about the sales tax trend for the Type A funds to
determine whether any budget adjustments need to be made.Ms.Casas
provided a brief overview of the sales tax shortfalls and presented two options
for the Board's consideration:1)formally amend the operating budget in each
of the three Type A funds to reduce the budget for sales tax revenue by
$600,000 in each fund for FY2015-2016.The economic development fund has
the most activity and the fund balance is sufficient to pay all existing
commitments.Any future commitments would have to be brought back before
the Board;or 2)leave the FY2015-2016 budget as is,and simply note and
monitor the decline in sales tax revenues.
Board members spoke regarding the following topics:consideration to leave
the budget as is and continue to monitor sales tax;a spreadsheet to determine
the impact on the economic development fund and its ability to fund possible
future incentives;the fund balance for the economic development fund;staff's
recommendation to formally amend the operating budget;the ability to fund
the contract commitments;City Council approval to amend the budget;and the
• variances in the sales tax budgeted versus actual amounts from FY2013-2014
through FY2015-2016.
Ms.Opel made a motion to support Option 2,seconded by Mr.Braselton and
passed unanimously(Guerra-absent).
G. PRESENTATION ITEMS: (ITEMS 7, 8 and 5)
7. Economic Development Update-January to March 2016
President Gulley deviated from the agenda and referred to Item 7.Mike
Culbertson,Corpus Christi Regional Economic Development Corporation,
provided the quarterly report for the small business and major business
incentive projects.
Board members spoke regarding the following topics:a status on Sam Kane
Beef Processors;the completion of the Del Mar College Process Center;M&G
Group;and an explanation of how the LiftFund works.
8. Engineering Services Update -April 2016
President Gulley referred to Item 8.Director of Engineering Services Jeff
Edmonds presented the monthly update on the Engineering Services projects.
Board members spoke regarding the following topics:the Barge Dock final
condition assessment report;the completion of the Miradores project;the
maintenance funding for the Miradores;and the cost for the McGee Beach
feasibility study.
5. Discussion of possible FY2015-2016 Affordable Housing funding
for the Homebuyer Assistance Program
President Gulley deviated from the agenda and referred to Item 5.Director of
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Housing and Community Development Rudy Bentancourt stated that the
purpose of this item is to discuss and possibly obtain direction on requesting
FY2015-2016 Affordable Housing funding for the Homebuyer Assistance
Program. Mr.Bentancourt presented information on the remaining balance to
include committed,unpaid and funded as of March 2016 and the number of
households assisted.Mr.Bentancourt provided the Type A Affordable Housing
Guidelines in the packet.
Board members spoke regarding the following topics:the use of the program
since changing the funding of the deferred forgivable loan to$10,000;the
ability for homebuyers to use HOME funds;whether changes can be made to
the guidelines;questions regarding the HUD guidelines for homebuyer
eligibility including:future income,the purchasing household size;and
Housing and Community Development making the determination of eligibility,
changing the wording in the guidelines to say HUD as opposed to Housing and
Community Development when an item is required by HUD;the lender
requirement stating lenders are required to submit paycheck stubs for the past
6 months;participating lenders for the program;a future action item request
for additional funding to reimburse Housing and Community Development staff
time;and a presentation from the Corpus Christi Housing Authority.
G. PRESENTATION ITEMS: (ITEMS 4 and 61
4. Habitat for Humanity Presentation
President Gulley referred to Item 4.Warren Andrich,Chairman of the Corpus
Christi Habitat for Humanity,stated that the purpose of this item is to present a
proposal to the Type A Board for funding consideration.Mr.Andrich presented
the following information:the work done by Habitat for Humanity;the number
of homes currently built each year;the need for additional partners to build
more homes per year in the City;the request for$107,000 in matching funds to
match donations provided to Habitat for Humanity; how the funds will be
utilized;a capacity building plan;and capacity levels.
Board members spoke regarding the following topics:whether the
partnerships have been established;where Habitat for Humanity is in the
process;how the program will work;the status on the City Council's affordable
housing strategies;the Community Development Corporation; request that
Habitat for Humanity provide a firm proposal;whether this is a one-time
request for funding;Habitat for Humanity's overall operating and adminstrative
costs;whether Habitat for Humanity has the resources necessary to reach the
expected capacity level;clarity on the strategic vision of the plan;how the
mortgage payments are accounted for;flexibility on the requested funding;the
taxable property that has been created through Habitat for Humanity;and
placing this item on a future agenda for discussion and action,to include an
agreement.
6. Discussion regarding Economic Development Sales Tax
Reauthorization
President Gulley referred to Item 6,a discussion regarding the economic
development sales tax reauthorization.Ms.Opel and Interim Assistant City
Manager Jay Ellington shared the following information from the City Council
Retreat held on March 22,2016:the legislation passed in 2015 providing
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options for the economic development sales tax;the ballot alternatives for the
City Council to consider including Type A,Type B or General Revenue;a
recommendation from the Type A Board;the recommendation from the Corpus
Christi Regional Economic Development Corporation on how to disperse the
funds;and the direction from the City Council to have the City Attorney bring
back ballot language for the General Revenue option.
There was a power outage during the discussion on this item and Assistant
City Secretary Paul Pierce recommended postponing this item until the next
meeting.
H. EXECUTIVE DIRECTOR COMMENTS:
None.
PUBLIC COMMENT
President Gulley called for public comment.Abel Alonzo,1701 Thames,
thanked the Board for being good stewards of taxpayer money and spoke in
opposition to changes being made to the economic development sales tax.
J. IDENTIFY FUTURE AGENDA ITEMS
None.
K. ADJOURNMENT
The meeting was adjourned at 5:56 p.m.
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.
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