HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 09/21/2020City of Corpus Christi
Meeting Minutes
Corpus Christi B Corporation
1201 Leopard Street
Corpus Christi, TX 78401
cctexas.com
Monday, September 21, 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.
NOTE: Board Members Leah Olivarri, Diana Summers and Lee Trujillo
participated by video conference. Mr. Tamez arrived at 1:57 p.m.
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.
D. MINUTES
1. 20-0992 Approval of Minutes of the Type B Board July 20, 2020 Regular Meeting
Minutes.
President Harris referred to item 1. Mr. Wilson made a motion to approve the
minutes as presented, seconded by Mr. Valls, and passed unanimously.
E. FINANCIAL REPORT
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2. 20-1090 Type B Financial Reports as of July 31, 2020
President Harris referred to Item 2. Assistant Director of Financial Services
Alma Casas presented the financial reports as of July 31, 2020.
Board Members and Ms. Casas discussed the following topics: commitment
amount for streets; add an additional slide to include the paid commitments
and the annual balance.
F. CLOSED SESSION ITEMS:
3. 20-1122
G. AGENDA ITEMS:
4. 20-1142
President Harris referred to Executive Session Item 3. The Board went into
Executive Session at 1:51 p.m. The Board returned from Executive Session at
2:45 p.m.
Executive Session pursuant to Texas Government Code § 551.071 and
Texas Disciplinary Rules of Professional Conduct Rule 1.05 to consult
with attorneys concerning legal issues related to potential economic
development incentive agreement(s) involving Next Sports Company,
LLC. and/or other entities desiring to engage in commercial
development at or near the intersection of Old Brownsville Road and S
Padre Island Drive within the City of Corpus Christi and pursuant to
Texas Government Code § 551.087 to discuss or deliberate regarding
commercial or financial information relating to some or all of the
aforementioned matter(s) or entities that the Corporation seeks to have
locate, stay, or expand within the City limits and with which the
Corporation is conducting economic development.
Motion approving the Termination of Agreement between the Corpus
Christi B Corporation and TG 110 Village at Greenwood GP, LL, due to
the award of grant funds from the Texas General Land Office (GLO) for
the project; and de -obligating $1,250,000 from the agreement and
returning it to the Type B fund to be used for future affordable housing
projects.
President Harris referred to Item 4. Homeless Services and Workforce Housing
Manager Jennifer Buxton said the purpose of this item is to terminate the
agreement between the Corpus Christi B Corporation and TG 110 Village at
Greenwood GP, LLC and to de -obligate the $1,250,000, due to an award
received from the Texas General Land Office (GLO) for the project.
President Harris referred to item 4. Mr. Wilson made a motion to approve item
4, seconded by Mr. Trujillo, and passed unanimously.
5. 20-1143 Resolution amending and reaffirming the Corpus Christi B Corporation's
Investment Policy and Investment Strategy for the Fiscal Year 2020-2021.
President Harris referred to Item 5. Assistant Director of Financial Services
City of Corpus Christi
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Meeting Minutes September 21, 2020
Alma Casas said the purpose of this item is to approve the resolutions
amending and reaffirming the Corpus Christi B Corporation's investment
policies and investment strategies for fiscal year 2020-2021.
Mr. Valls made a motion approving item 5, seconded by Mr. Wilson and passed
unanimously.
6. 20-1147 Resolution amending authorized representatives in the TexPool
Investment Pool to reflect recent changes in Investment Officers.
President Harris referred to Item 6. Assistant Director of Financial Services
Alma Casas said the purpose of this item is to approve a resolution amending
authorized representatives in the TexPool Investment Pool to reflect recent
changes in investment officers.
Mr. Valls made a motion approving item 6, seconded by Mr. Wilson and passed
unanimously.
H. PUBLIC HEARING:
7. 20-1095
Public Hearing and motion authorizing a business incentive agreement
with Next Sports Company LLC in the amount of $1,850,000 for the
construction of a new multi -sports complex on Old Brownsville Road.
President Harris referred to Item 7. Chief Operating Officer of the Corpus Christi
Regional Economic Development Corporation Mike Culbertson said the
purpose of this item was to present an incentive agreement with Next Sport
Company LLC (NSC) in the amount of $1,850.000 for construction of a new
multi -sport complex on Old Brownsville Road. Mr. Culbertson said NSC will
invest $17.2 million to construct the complex and supporting amenities. This
will create 47 full-time jobs and up to 50 part-time jobs. The facility will serve a
variety of athletics. The first stage will have eight multi-purpose fields and
includes parking accommodations. Phase II will include administrative offices,
retail space and supporting amenities and is anticipated to be completed by
December 2022. Youth tournaments will begin in 2022 and anticipating 25,000
in visitor room nights.
President Scott Harris opened the public hearing. City Secretary Rebecca
Huerta stated their were no public comments submitted. President Harris
closed the public hearing.
Board Members, Mr. Culbertson, Principal of Three Dimensional Development
Debbie Lindsey -Opel, Chief Operating Officer of Govind Development Oscar
Martinez and President of Next Sport Company LLC Kingsley Okonkwo, MD
discussed the following topics: concerns about the flow of traffic; parking
availability being on site and an overflow across the street; whether there has
been communication with West Oso regarding the flow of traffic; the amount of
parking spaces available on each site and whether they are sufficient for the
eight fields; requested a letter of commitment or the financials that validate
whether the developer has the capability to complete the project; possibly
using the police department to assist with the flow of traffic; how will revenue
be obtained; whether a membership fee will be required; including a claw
back clause if the job requirement is not met and if a futsal field will be
considered.
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8. 20-1150
Mr. Valls made a motion to amend the motion to incorporate the financial
commitment in a period of 90 days of execution of the agreement and to clarify
the incentive will be used to pay for the infrastructure, seconded by Mr. Wilson
The motion passed with the following vote: Harris, Trujillo, Valls, Summers,
Wilson and Olivarri, voting "Aye"; Tamez voting "No". The motion was
approved as amended.
Public Hearing and Motion authorizing allocation of funds in an amount
not to exceed $4,202,375 from Type B Sales Tax to be funded for Cole
Park Pier improvements project, located in City Council District 2.
Amending the FY2021 operating budget by appropriating $4,202,375
from the fund balance in Fund 1145 and transferring to the City's capital
improvement fund.
President Harris referred to Item 8. Assistant City Manager Keith Selman said
the purpose of this item is to present the Cole Park Pier Improvement project
allocating funds in an amount not to exceed $4,202,375. from the Type B sales
tax. The project includes demolishing the existing damaged pier and the
reconstruction of the Cole Park pier which will include a plaza and expanding
the parking area. Mr. Selman clarified the agenda had the project amount as
$4,415,430, the correct amount is $4,202,375. The total cost of the project that
includes the design of the new pier is $6,665,430, other funds will come from
the Community Enrichment funds, G.O. Bond 2018 and the G.O Bond 2009. The
time frame to complete the project is June or July of 2021.
Board Members, Assistant City Attorney Aimee Alcorn -Reed and Mr. Selman
discussed the following topics: whether the Economic Development
Corporation (EDC) reviewed the project; the project was reviewed by Bond
Counsel for a Type A Seawall project and declined so it was brought to the
Type B Corporation for consideration; the amount of funds that will be
available for 2021 if the project is approved; create a more iconic entrance;
whether jobs will be created with this project; if any Federal Emergency
Management Agency (FEMA) funds are available to support the project; who
will maintain the pier and the legal requirement for Type B funds for parks and
entertainment type purposes.
President Scott Harris opened the public hearing. City Secretary Rebecca
Huerta stated their were no public comments submitted. President Harris
closed the public hearing.
Mr. Tamez made a motion to approve item 8, seconded by Mr. Valls. The
motion passed with the following vote: Harris, Trujillo, Valls, Summers, Wilson
and Tamez, voting "Aye"; Olivarri voting "No".
I. PRESENTATION ITEMS: None
J. EXECUTIVE DIRECTOR COMMENTS:
President Harris referred to the Executive Director comments. Chief Financial
Officer Constance Sanchez stated there were no comments.
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K. IDENTIFY FUTURE AGENDA ITEMS
L. ADJOURNMENT
President Harris referred to the Future Agenda Items. Chief Financial Officer
Constance Sanchez stated there were no comments.
There being no further business, President Harris adjourned the meeting at
4:00 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 maybe 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.
This meeting maybe held via videoconference call pursuant to Texas Government Code § 551.127. If this meeting is held via
videoconference call or other remote method of meeting, then a member of this governmental body presiding over this
meeting will be physically present at the location of this meeting unless this meeting is held pursuant to Texas Government
Code § 551.125 due to an emergency or other public necessity pursuant to Texas Government Code § 551.045.
City of Corpus Christi
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