HomeMy WebLinkAboutMinutes Corpus Christi Business And Job Development Corporation (Type A) - 05/20/2019 Aut.--N- City of Corpus Christi Co'201 Leopard Street
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Meeting Minutes
Corpus Christi Business and Job Development Corporation
Monday,May 20,2019 4:30 PM City Council Chambers
The mission of the Business&Job Development(Type A) and B Corporations is to
promote and enhance the City of Corpus Christi's economic base by supporting
projects and programs that create primary jobs, improve small business and affordable
housing opportunities, and improve infrastructure in our City.
A. President Scott Harris to call the meeting to order.
President Scott Harris called the meeting to order at 4:30 p.m.
B. Call Roll and Excuse Absences
Assistant City Secretary Paul Pierce called the roll and verified that a quorum
of the Board was present to conduct the meeting.
Board Member Gabriel Guerra was absent.
Ms.Olivarri and Mr.Valls requested an excused absence for the April 15,2019
meeting.Mr.Trujillo made a motion to excuse their absences and seconded by
Mr.Harris and passed unanimously.
Mr.Maldonado did not request an excused absence for the April 15,2019
meeting.
Present: 6- President Scott Harris,Vice-President Randy Maldonado, Board Member
Leah Pagan Olivarri, Board Member Robert Tamez, Board Member Lee
Trujillo and Board Member John Valls
Absent: 1 - Board Member Gabriel Guerra
C. MINUTES
1. Approval of Minutes of the April 15, 2019 Regular Meeting and the April
18, 2019 Special Workshop
President Harris referred to item 1.Mr.Tamez made a motion to approve the
minutes of the April 15,2019 regular meeting and the April 18,2019 Special
Workshop meeting,seconded by Mr.Trujillo,and passed unanimously.(Board
Member Guerra was absent)
D. FINANCIAL REPORT
2. Type A Financial Reports as of March 31, 2019
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President Harris referred to Item 2.Interim Director of Financial Services Alma
Casas presented the financial report as of March 31,2019.
Board members,Ms.Casas and Ms.Sanchez discussed the appropriated
balances for the different projects; how the$4 million in preventative
maintenance is being used and if it is a yearly commitment,and the balance in
the Affordable Housing fund.
E. CLOSED SESSION ITEMS: (None)
F. AGENDA ITEMS: (3-3)
3. Arena Second Floor Enhancement Project
Motion authorizing the expenditure of$121,478 for the Arena second
floor enhancement project from remaining funds that were previously
allocated to completed capital improvement projects at the Arena.
President Harris referred to Item 3.Assistant to the City Manager Esther
Velazquez and General Manager-SMG American Bank Center Matt Blasy
requested a motion authorizing the expenditure of$121,478 for the Arena
second floor enhancement project from the remaining funds that were
previously allocated to complete capital improvements project at the Arena.
A board member and Mr.Blasy discussed the completion date for the
enhancement project
Mr.Valls made a motion to approve the funding request,seconded by Ms.
Olivarri,and passed unanimously.(Board Member Guerra was absent)
G. PRESENTATION ITEMS: (4-6)
4. Engineering Monthly Update- May 15, 2019
President Harris referred to item 4.In Director of Engineering Services Jeff H.
Edmonds'absence,Engineer IV Sarah West presented the Engineering
Services monthly project update.
Mr.Tamez and Ms.West discussed the concrete groynes safety issue at the
McGee Beach.
5. Type A Board Investment Policy Discussion
President Harris referred to Item 5.Investment Analyst Jacey Reeves presented
an update on current investment policy and discussion of action moving
forward.
Board members,Ms.Reeves,and Ms.Alcorn-Reed discussed the following
topics:TexPool is currently paying 2.4 percent;a minimum of less than
$250,000 will be kept at Frost Bank;requested the City's larger investment City
Policy,and will present an agreement between the City and the Type A Board
for the City to handle the investments of the board.
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6. Economic Development Update-January to March 2019
President Harris referred to Item 6.Chief Operating Officer of the Corpus Christi
Regional Economic Development Corporation(CCREDC)Mike Culbertson
presented the Major Business Incentives Quarterly Report.
There were no comments from the board.
H. EXECUTIVE DIRECTOR COMMENTS:
President Harris referred to the Executive Director Comments.Executive
Director Constance Sanchez thanked everyone for attending the joint
workshop and welcomed City Manager Peter Zanoni.
I. PUBLIC COMMENT
President Harris referred to Public Comment.There were no comments from
the public.
PLEASE BE ADVISED THAT THE OPEN MEETINGS ACT PROHIBITS THE
CORPORATION FROM RESPONDING AND DISCUSSING YOUR COMMENTS AT
LENGTH.THE LAW ONLY AUTHORIZES THEM TO DO THE FOLLOWING:
1. MAKE A STATEMENT OF FACTUAL INFORMATION.
2. RECITE AN EXISTING POLICY IN RESPONSE TO THE INQUIRY.
3.ADVISE THE CITIZEN THAT THIS SUBJECT WILL BE PLACED ON AND
AGENDA
AT A LATER DATE.
J. IDENTIFY FUTURE AGENDA ITEMS
President Harris referred to the future agenda.Executive Director Constance
Sanchez identified the following future items:Affordable Housing quarterly
update;present the proposed FY20 budget for the 3 Type A funds;Seawall and
Mirradores update;bring back the investment policy and investment strategy
for the Type A Board;bring the agreement between the City and Type A Board
to handle the investments; bring back an agenda item to the deobligate the
courthouse,and add a commitment report for the Seawall and the Arena to the
Financial Report.
K. ADJOURNMENT
There being no further business,President Harris adjourned the meeting at
5:03 p.m.
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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 attomey 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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