The URL can be used to link to this page

Home My WebLink About032586 ORD - 10/26/2021Ordinance approving the First Amended and Restated Addendum No. 1 to Lease Agreement with Foresight Corpus Christi Golf, L.L.C. a Texas Limited Liability Company, which provides for $500,000.00 from the Corpus Christi B Corporation for the addition of lighting improvements at the practice range and executive 9 - hole course at the Gabe Lozano Golf Course; appropriating $500,000 from the Type B Fund; and amending the operating and capital budgets. WHEREAS, on November 8, 2016, residents of the City of Corpus Christi (the "City") passed Proposition 1, Adopt Type B Sales Tax to Replace Expiring Portion of Type A Sales Tax, which authorized the adoption of a sales and use tax to be administered by a Type B Corporation at the rate of one-eighth of one percent to be imposed for 20 years with use of the proceeds for (1) 50% to the promotion and development of new and expanded enterprises to the full extent allowed by Texas law, (2) $500,000 annually for affordable housing, and (3) the balance of the proceeds for the construction, maintenance and repair of arterial and collector streets and roads; WHEREAS, the 1/8th cent sales tax authorized by passage of Proposition 1 was subsequently enacted by the City Council and filed with the State Comptroller of Texas, effective April 1, 2018, to be administered by the Corpus Christi B Corporation Board; WHEREAS, following a public hearing held on September 20, 2021, the Board has determined that it is in the best interest of the citizens of the City that Type B sales tax funds be used to pay for a certain public improvement, namely lighting improvements at the Gabe Lozano Golf Course; WHEREAS, the Project is consistent with the purposes for which the Type B sales tax was created and approved by the voters of the City; and WHEREAS, the addition of lighting improvements at Gabe Lozano Golf Course will allow for night time play at the practice range and the executive 9 -hole course, which will directly create approximately seven new jobs and promote or develop new and expanded business enterprises in Corpus Christi through increased tourism -related revenue; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL FOR THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Council specifically finds that the foregoing statements included in the preamble of this ordinance are true and correct and adopts such findings for all intents and purposes related to the authorization of this project. SECTION 2. That funds in the amount of $500,000.00 are appropriated from the Type B Sales Tax Fund No. 1146 and transferred to the CIP Fund No. 3251 for lighting 032586 SCANNED improvements at the practice range and executive 9 -hole course at the Gabe Lozano Golf Course. SECTION 3. That the FY2021-22 Operating Budget adopted by Ordinance No. 032539 is amended to increase expenditures by $500,000.00. SECTION 4. That the FY 2021-22 Capital Budget adopted by Ordinance No. 032540 is amended to increase revenues and expenditures by $500,000.00. SECTION 5. That the City Manager or designee is authorized to execute the First Amended and Restated Addendum No. 1 to Lease Agreement with Foresight Corpus Christi Golf, L.L.C. a Texas Limited Liability Company, which provides for $500,000.00 from the Corpus Christi B Corporation for the addition of lighting improvements at the practice range and executive 9 -hole course at the Gabe Lozano Golf Course. That the foregoing ordi ance was read for the first time and passed to its second reading on this the ( 1 day of U CT -61').(' , 2021, by the following vote: Paulette M. Guajardo Roland Barrera Gil Hernandez Michael Hunter Billy Lerma John Martinez Ben Molina Mike Pusley Greg Smith v That thy, foregoing ordinance was read for the second time and passed finally on this the -L.) N day of C;L-i(012( 2021, by the following vote: Paulette M. Guajardo Roland Barrera Gil Hernandez Michael Hunter Billy Lerma PASSED AND APPROVED on this the ATTEST: vel4OLC/CIA Rebecca Huerta City Secretary John Martinez Ben Molina Mike Pusley Greg Smith day of (JCACW , 2021. 032586 Paulette M. Guajard/ajC1/1° o Mayor CITY OF CORPUS CHRISTI CERTIFICATION OF FUNDS (City Charter Article IV, Sections 7 & 8) I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized representative), hereby certify to the City Council and other appropriate officers that the money required for the current fiscal year's portion of the contract, agreement, obligation or expenditure described below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has not been appropriated for any other purpose. Future payments are subject to annual appropriation by the City Council. City Council Action Date: October 26, 2021 Legistar Number: 21-1424 Agenda Item: Ordinance approving the First Amended and Restated Addendum No. 1 to Lease Agreement with Foresight Corpus Christi Golf, L.L.C. a Texas Limited Liability Company, which provides for $500,000.00 from the Corpus Christi B Corporation for the addition of lighting improvements at the practice range and executive 9 -hole course at the Gabe Lozano Golf Course; appropriating $500,000 from the Type B Fund; and amending the operating and capital budgets. Amount Required: $2,800,000.00 Fund Name Accounting Unit AcNoount Activity No. Amount Parks & Recreation CO's 2021 3297-141 550910 220183297EXP $2,300,000.00 Parks B Corp. 3251-141 550910 220183251EXP $500,000.00 Total $2,800,000.00 ❑ Certification Not Required Director of Financial Services Date: I