HomeMy WebLinkAboutC2020-425 - 12/10/2020 - NA us mII -
1I
rY Amendment
Ike PCOAI City of Corpus Christi
1852
Date: December 3, 2020
Agreement: Chapter 380 Economic Development Incentive Agreement with Chamber of Commerce
Amendment No. 1
The CITY OF CORPUS CHRISTI, TEXAS, hereinafter referred to as the City, and The United Corpus
Christi Chamber of Commerce hereinafter referred to as the Chamber, do hereby make and enter into
this amendment (the "Amendment") which, together with the 380 Economic Development Incentive
Agreement dated June of 2020 (the "Agreement") and all other duly executed amendments, constitutes
the entire agreement between the City and the Chamber.
I.
Section 5. City's Responsibility of the Agreement is amended as follows:
City's Responsibility. The City will credit the commercial business utility account $500 upon
written notification and documentation from Chamber verifying that one qualifying local
commercial business is associated with one City utility account. A qualifying local commercial
business shall be eligible for no more than one $500 utility assistance grant. The City's
maximum contribution to the program will not exceed $100,000. The City's utility assistance
program will continue until City reaches the maximum funding available under this utility
assistance program of$75,000 or termination of the Agreement. The remaining $25,000 will
be paid to the Chamber as an administrative fee within thirty (30) days following City's receipt
of invoice and proper documentation. Any funds not expended by Chamber within 180 days
of the effective date of this Agreement shall no longer be available under this Agreement and
shall not be an obligation of the City. Any amount over $100,000 that has been allocated to
this Agreement is no longer required and can be released back to the City for use in other
economic development projects.
The Chamber and the City agree to and shall abide by all terms and conditions of the original
Agreement and any amendments to that Agreement, to the extent they are not in conflict with the terms
of this Amendment.
1 ,
I 119f"
Name: - i— n ate
Title: i,r1_ f - , APPROVED AS TO LEGAL FORM:
The United Corpus Chris i Chamber of Commerce 1
agiA.A.4
q10/Z<Jt-6
-S Assistant City Attorney Date
Constance Sanchez Date
Chief Financial Officer / z - J o - 0)-0
City of Corpus Christi
SCANNED