HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 04/18/2022City of Corpus Christi 1201 Leopard Street
Corpus Christi, TX 78401
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Meeting Minutes - Final
Corpus Christi B Corporation - Type B
Monday, April 18, 2022 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.
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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.
President Lee Trujillo to call the meeting to order.
President Lee Trujillo called the meeting to order at 1:32 p.m.
Call Roll:
City Secretary Rebecca Huerta called the roll and verified that a quorum of the Board
was present to conduct the meeting.
Present 7 - Board Member Scott Harris, Board Member Leah Pagan Olivarri, Secretary Diana
Summers, Vice -President Robert Tamez, President Lee Trujillo, Board Member John
Valls, and Board Member Alan Wilson
PUBLIC COMMENT
President Trujillo referred to Public Comment. There were no comments from the public.
MINUTES / EXCUSE ABSENCES
22-0700 Approval of Minutes of the Type B Board March 21, 2022 Regular Meeting.
President Trujillo referred to Item 1. Mr. Valls made a motion to approve the minutes as
presented, seconded by Mr. Tamez, and passed unanimously.
I a I ZI FA ZI DI FA 0NNIae]:41
22-0685 Type B Financial Reports as of February 28, 2022
President Trujillo referred to Item 2. Director of Finance Heather Hurlbert presented the
financial reports as of February 28, 2022.
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April 18, 2022
Board Members, City Manager Zanoni and Ms. Hurlbert discussed the following: what the
Botanical funds were allocated for and the timeline to expend the funds; an update for the
Next Sport Company LLC and the Gabe Lozano Executive 9-hole golf course and a plan
to replace the Oso and Lozano club houses.
F. CLOSED SESSION ITEMS: NONE
PUBLIC NOTICE is given that the Board of Directors may elect to go into closed session
at any time during the meeting in order to discuss any matters listed on the agenda,
when authorized by the provisions of the Open Meetings Act, Chapter 551 of the Texas
Government Code, and that if the Board of Directors specifically expects to go into
closed session regarding an agenda item, the section or sections of the Open Meetings
Act authorizing the closed session will be publicly announced by the presiding officer.
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.
G. AGENDA ITEMS:
3. 22-0695 Motion authorizing an agreement with the City of Corpus Christi to provide
$1,191,871 from the Corpus Christi B Corporation affordable housing fund to
provide the Corpus Christi Housing Finance Corporation funds for ALMA at
Greenwood a 152-unit new construction affordable rental housing project for
households at or below 60 percent of the area median income located on 10
acres at Greenwood and Gollihar, appropriating $1,191,871 from the
unreserved fund balance of the affordable housing fund, and amending the
budget.
President Trujillo referred to Item 3. Assistant Director of Neighborhood Services
Jennifer Buxton said the purpose of this item is to approve a motion authorizing an
agreement between the Type B Board and the City of Corpus Christi for $1,191,871 for
ALMA at Greenwood a new construction affordable rental housing project.
Ms. Buxton presented the following: proposed development; financing; loans to
Greenwood Manor LP; General Partner; ownership structure and timeline.
Board Members, Ms. Buxton, City Manager Zanoni discussed the following topics: which
loans that will be repaid in 40 years; why the federal loan will be repaid first; how long the
amortization is deferred; the accuracy of the cost estimate; whether the tax credits have
been awarded; why the cost of the project is so high; if there are any interest rate
guarantees for the bond exploration; whether the property needs to be re -zoned; and
requested a workshop for future affordable housing project.
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Mr. Valls made a motion approving item 3, seconded by Mr. Wilson and passed
unanimously.
H. PUBLIC HEARING: NONE
This agenda constitutes notice of any project or type of project that is the
subject of a public hearing for purposes of section 505.160 of the Texas Local
Government Code.
I. PRESENTATION ITEMS: NONE
J. EXECUTIVE DIRECTOR COMMENTS:
President Trujillo referred to Executive Director comments. City Manager Peter Zanoni
identified the following future item: updates on the American Bank Center and Arena.
K. ADJOURNMENT
There being no further business, President Trujillo adjourned the meeting at 2:15 p.m.
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.
April 18, 2022
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