HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 01/27/2020 ,�4� Cityof Corpus Christi 1201 Leopard Street
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Corpus Christi B Corporation
Monday,January 27,2020 1:30 PM Council Chambers
Persons with disabilities who plan to attend this meeting and who may need auxiliary
aids or services are requested to contact the City Secretary's office (at 361-826-3105) at
least 48 hours in advance so that appropriate arrangements can be made.
The mission of the Business &Jobs 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 1:33 p.m.
B. Call Roll and Excuse Absences
City Secretary Rebecca Huerta called the roll and verified that a quorum of the
Board was present to conduct the meeting.
Present 7- President Scott Harris, Board Member Leah Pagan Olivarri, Secretary Diana
Summers,Vice-President Robert Tamez, Board Member Lee Trujillo, Board
Member John Valls, and Board Member Alan Wilson
Absent 1 - Council Liaison Michael Hunter
C. 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.
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D. MINUTES
1. Approval of Minutes of the December 9, 2019 Meeting
President Harris referred to item 1. Mr.Valls made a motion to approve the
minutes as presented,seconded by Mr.Tamez,and passed unanimously.
E. FINANCIAL REPORT
2. Type B Financial Reports as of November 30, 2019
President Harris referred to Item 2.Assistant Director of Financial Services
Alma Casas presented the financial reports as of November 30,2019.
F. CLOSED SESSION ITEMS: (None)
G. AGENDA ITEMS: (None)
H. PUBLIC HEARING:
3. Public Hearing and Motion authorizing a business incentive agreement
with The Botanical and Nature Institute of South Texas, Inc. dba South
Texas Botanical Gardens & Nature Center in the amount of$89,000 for
the resurfacing of the nature trail at 8545 South Staples Street with
funding available from Corpus Christi B Corporation Economic
Development Fund.
President Harris referred to Item 3.Chief Operating Officer of the Corpus Christi
Regional Economic Development Corporation Mike Culbertson said the
purpose of this item was to present a business incentive agreement with the
Botanical Gardens in the amount of$89,000 for the re-surfacing of the nature
trails.The Botanical Gardens will use the$89,000 to pave 3,000 feet of trails
and will use this grant to get a larger grant from the Texas Parks and Wildlife
Department. The Corpus Christi Regional Economic Development Corporation
was briefed on the agreement in January and recommends approval from the
Type B Corporation.
President Harris opened the public hearing for item 3.There were no
comments from the public,President Harris closed the Public Hearing.
Board Members,City Manager Peter Zanoni and Mr.Culbertson discussed the
following topics: caliche material will be used along with a polymer to help
keep the material together to pave the trails;whether the trails will be ADA
compliance; if the agreement is a tourism project and qualifies as a Type B
project.Assistant City Attorney Aimee Alcorn-Reed stated if the Type B Board
find that improvements to the Botanical Gardens would promote or bring new
business enterprises because having this cultural public park in our community
is something we need to attract new business,then the project would qualify
as a Type B project; if projects could be approved without being ADA
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approved;and board members asked for the applicant requesting the funds be
available at the meeting for follow up questions.
Mr.Wilson made a motion to approve item 3 with the contingent on the ADA
Regulatory Compliance,seconded by Mr.Trujillo,and passed unanimously.
4. Public Hearing and Motion authorizing a business incentive agreement
with LiftFund in the amount of$100,000 for the Dream Fund, a revolving
loan fund for small businesses within the city limits of Corpus Christi with
funding available from the Corpus Christi B Corporation Economic
Development Funds.
President Harris referred to Item 4.Chief Operating Officer of the Corpus Christi
Regional Economic Development Corporation Mike Culbertson said the
purpose of this item was to present a business incentive agreement with the
Lift Fund in the amount of$100,000 for the Dream Fund which is a revolving
loan for small business within the city limits of Corpus Christi with funding
available from the Corpus Christi B Corporation Fund 1145.The Type B
Corporation does not loan the money,but assist when the interest rate is high
the Type B will buy down the interest and make the loan more affordable for
the small business owner; if there is a default, per the agreement Lift Fund will
makeup for that default.This is a recommendation from the Corpus Christi
Regional Economic Development Corporation to the Type B Corporation.
President Harris open the public hearing for item 4.Market Manager for Lift
Fund Laura Leal Estrada spoke in support and the criteria of the Lift Fund.
There being no other comments President Harris closed the Public Hearing.
Mr.Tamez made a motion to approve item 4,seconded by Mr.Valls,and
passed unanimously.
5. Public Hearing and Motion authorizing an Affordable Housing agreement
with TG 110 Village at Greenwood GP, LLC in the amount of$1,250,000
for a $12.7 million dollar development with 30 affordable housing rental
units out of a total of 60 multi-family, mixed income units to be paid over
two years wth funding available in the Corpus Christi B Corporation
Affordable Housing Funds.
President Harris referred to Item 5. Mr.Valls stated he was recusing himself
from the vote and discussion on this item. Homeless Outreach Coordinator
Emily Shafer Northrup said the purpose of this item is to authorize an
Affordable Housing agreement with TG110 Village at Greenwood GP, LLC in
the amount of$1.25 million in Type B Funds to be applied towards a$12.7
million affordable multifamily,mixed income housing which will provide 60
units located at Greenwood and Frio street.Ms.Northrup stated the operation
of affordable housing is to assist families living at or below the poverty level.
The property will provide resident services,such as financial literacy classes,
food panty, leadership training,and nutrition assistance.
President Harris opened the public hearing for item 5.Mr. Raymond Lucas,a
representative for Prospera,spoke in support of the Affordable Housing
Agreement.There being no other comments,President Harris closed the Public
Hearing.
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Board Members, Ms.Northrup and Mr.Lucas discussed the following items:
funding sources for the project;amenities package such as swimming pool,
playground and club house are required by the Federal Government in order
to receive GLO funding; previous funding approved for the Fish Pond project
was$500,000 at 112 units,which cost$4,500.00 a unit for 30 years,compared
with the Village at Greenwood Affordable Housing agreement,which is for 51
units at a cost of$24,500.00 a unit;the balance in Type B account being
approximately$100,000 if the project is approved and if there will be enough
funds to approve any potential home grant programs if they approve this
agreement;compliance with the Type B agreement requires 30 units to be
income and rent restricted for 20 years;whether there is a clawback provision
in the contract for the$1.25 million if all the funds are not used; if sidewalks
will be available.
Ms.Olivarri made a motion to amend the motion as follows: motion to amend
by requiring language in the agreement to proportionally adjust the total
amount paid to the Developer,and require repayment of any amount paid to
the Developer,if the Developer fails to spend$12.7 million on the project
within 2 years or prior to receipt of Certificate of Occupancy, if the construction
is completed in less than 2 years,seconded by Mr.Wilson.The motion passed
with the following vote: President Harris,Ms.Olivarri,Mr.Tamez, Mr.Trujillo
and Mr.Wilson,voting"Aye"; Summers,voting"No";and Mr.Valls abstained.
Ms.Olivarri made a motion to approve the motion as amended,seconded by
Mr.Wilson.The motion passed with the following vote: President Harris,Ms.
Olivarri, Mr.Tamez,Mr.Trujillo and Mr.Wilson,voting"Aye"; Ms.Summers,
voting"No";and Mr.Valls abstained.
6. Public Hearing and Motion authorizing an Affordable Housing agreement
with the Salvation Army in the amount of$500,000 for a new $6.3 million
new facility to be used for transitional housing for homeless individuals,
families, and veterans with single room and family occupancy; with
funding available from Corpus Christi B Corporation Affordable Housing
Funds.
President Harris referred to Item 6. Homeless Outreach Coordinator Emily
Shafer Northrup said the purpose of this item was to authorizing an Affordable
Housing agreement with the Salvation Army in the amount of$500,000 for a
new$6.3 million facility that will provide transitional housing to individuals,
families and veterans.The goal of the Salvation Army is to transition family
and individuals from homelessness into permanent,stable affordable housing.
The Salvation Army is the only facility that provides housing where the family
can stay together.The new facility will provide 60 single beds and 30 family
rooms each with four beds.The facility will serve over 10,000 individuals a
year and will provide food,shelter and supportive services such as: multi
purpose business center,computer lab,court yard,playground for youth,
library and separate lounging area for veterans,children and families.
Salvation Army Business Manager Gustavo Perez discussed the following:
amount of services that will be provided and the amount of individuals they
will be able to help with the expansion of the facility.
Salvation Army Chair Person Polly Harris discussed the following: rapid
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re-housing program;assistance they provide to the families and how they
assisted during hurrican Harvey.
President Harris open the public hearing for item 6.There were no comments
from the public,President Harris closed the Public Hearing.
Board Members and Ms.Northrup discussed the following items:the site being
already owned by the Salvation Army;whether there is a claw back provision;
baseball field will not be relocated due to not having the money or manpower
to maintain and operate the field;
Mr.Valls made a motion to approve item 6,seconded by Ms.Olivarri and
passed unanimously.
PRESENTATION ITEMS: (None)
J. EXECUTIVE DIRECTOR COMMENTS:
President Harris referred to the Executive Director comments.City Manager
Peter Zanoni stated there were no comments.
K. IDENTIFY FUTURE AGENDA ITEMS
President Harris referred to the Future Agenda Items.Chief Financial Officer
Constance Sanchez identified the following future items: present a frame work
or guidelines for the Type B Economics Development projects.
President Harris requested a cash flow analysis.
L. ADJOURNMENT
There being no further business, President Harris adjourned the meeting at
3:11 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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