HomeMy WebLinkAboutMinutes Corpus Christi Business and Job Development Corporation (Type A) - 07/17/20234
City of Corpus Christi
Meeting Minutes - Final
Corpus Christi Business and Job Development Corporation - Type
A
1201 Leopard Street
Corpus Christi, TX 78401
cctexas.com
Monday, July 17, 2023
2:00 PM City 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 & Job 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 Leah Pagan Olivarri to call the meeting to order.
President Leah Olivarri called the meeting to order at 2:25 p.m.
B. Call Roll:
Assistant City Secretary Stephanie Box called the roll and verified that a quorum of the
Board was present to conduct the meeting.
Present: 6 - Board Member Scott Harris, President Leah Pagan Olivarri, Board Member Robert
Tamez, Board Member John Valls, Vice -President Alan Wilson and Board Member Jesus
Jimenez
Absent: 1 - Secretary Diana Summers
C. PUBLIC COMMENT:
President Olivarri referred to Public Comment. There were no comments from the public.
D. MINUTES / EXCUSE ABSENCES
1. 23-1076 Approval of Minutes of the Type A June 12, 2023 Regular Meeting.
President Olivarri referred to Item 1. Mr. Valls made a motion to approve the minutes as
presented, seconded by Mr. Wilson, and passed unanimously.
E. FINANCIAL REPORT
2. 23-1133 Type A Financial Reports as of May 31, 2023
City of Corpus Christi
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Corp s Caristi Business and Job
Development Corporation - Type A
Meeting Minutes - Final July 17, 2023
President Olivarri referred to Item 2. Interim Director of Finance Alma Casas presented
the financial reports as of May 31, 2023.
F. EXECUTIVE SESSION ITEMS:
G. AGENDA ITEMS:
3. 23-1202 Motion authorizing the appropriation and expenditure of additional Seawall
Funds in the amount of $300,000.00 from the unreserved Fund Balance In the
Seawall Fund for the Fund for the Art Museum Johnson Building Piping
Replacement and authoring the transfer from the Seawall Fund to the Seawall
Capital Improvement Fund.
President Olivarri referred to Item 3. Director of Engineering Service Jeffrey Edmonds
said the purpose of this item is to approve a motion authorizing the appropriation of
Seawall CIP Funds from the reserve balance to the Seawall CIP Art Museum Johnson
Building for mechanical piping replacement. The improvements will restore deferred
maintenance items from urgent to normal conditions.
Mr. Harris made a motion to approve item 3, seconded by Mr. Valls, and passed
unanimously.
4. 23-1186 Motion authorizing the amendment of the bylaws of the Corpus Christi Business
and Job Development Corporation to provide for automatic resignation of a
director in the event of unexcused absences.
President Olivarri referred to Item 4. Assistant City Attorney Aimee Alcorn -Reed said the
purpose of this item is to approve a motion authorizing an amendment to the bylaws
regarding attendance.
Mr. Valls made a motion to approve item 4, seconded by Mr. Wilson, and passed
unanimously.
5. 23-1149 Resolution reaffirming the Corpus Christi Business and Job Development
Corporation's Investment Policy and Investment Strategy for the Fiscal Year
2023-2024 with non -substantive amendments.
President Olivarri referred to Item 5. Interim Director of Finance Alma Casas said the
purpose of this item is to approve a resolution reaffirming the Type A Investment Policy
and Investment Strategy for fiscal Year 2023-2024 with non -substantive amendments.
Mr. Valls made a motion to approve item 5, seconded by Mr. Wilson, and passed
unanimously.
6. 23-1162 Motion to approve the Corpus Christi Business and Job Development
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Corpus Christi Business and Job
Development Corporation - Type A
Meeting Minutes - Final July 17, 2023
Corporation's Fiscal Year 2023 - 2024 operating budget for the Seawall Fund,
the Seawall Debt Service Fund, the Arena Facility Fund, the Arena Debt Service
Fund, and the Business/Job Development Fund
President Olivarri referred to Item 5. Director of Management and Budget Eddie Houlihan
presented the proposed FY 2023-2024 Type B Budget.
Mr. Houlihan presented the following items: Budget Overview - Seawall; Budgeted
Revenue - Seawall; Proposed Expenses - Seawall; CIP - Seawall Project Budgets and
current Status; Approved FY2023 CIP - Seawall; Proposed FY2024 CIP - Seawall;
Budgeted Overview - Seawall Debt Service; Budget Overview - Arena Facility; Budgeted
Revenues - Arena Facility; Proposed Expenses - Arena Facility; Transfer to Arena CIP;
Transfer to Visitors Facilities; Arena Marketing Co -Promotion; Transfer to Visitors
Facilities Capital Projects; Budgeted Overview - Arena Debt Service; Budget Overview -
Business & Job Development; Budgeted Revenues - Business & Job Development;
Proposed Expenses - Business & Job Development; Affordable Housing; and Major
Business Incentives.
Board Members, Mr. Houlihan and Assistant City Manager Heather Hurlbert discussed
the following topics: cash yield return; reasons for the debt service increase; whether the
suite at the American Bank Center had previously been upgraded and if Type A
Economic Development funds can be combined with a Type B project.
I. PRESENTATION ITEMS:
7. 23-1184 Engineering Services Quarterly Report
President Olivarri referred to Item 7. Director of Engineering Services Jeffrey Edmonds
presented the Engineering Services quarterly updates.
Mr. Edmonds presented an update on the following projects: Art Museum Repairs and
Improvements; Art Center Repairs and Improvements; Restoration of the Water Gardens;
Marina Piers ABCD&L Replacement and Dredging; Marina -Peoples Boardwalk;
Marina -Boat Haul -Out Facility; Marina -Coopers Boat Facility; Flood Wall Upgrades at
Science Museum and Harbor Point East Connectivity Project.
8. 23-1207 Briefing on the Convention Center Project
President Olivarri referred to Item 8. Assistant City Manager Heather Hurlbert said the
purpose of this item is to present a briefing on the American Bank Center Convention
Center project.
Ms. Hurlbert presented the following items: Convention Center Project Scope; Funding
Sources; Funding Categories; Funding Types and Categories; Type A Re -purposing;
Convention Center Complex and Potential Revenues.
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Corpus Christi Business and Job
Development Corporation - Type A
Meeting Minutes - Final July 17, 2023
Board Members and Ms. Hurlbert discussed the following topics: the state's portion of the
hotel occupancy tax; the responsibility reduction for the Type A Board if the proposed 1/4
cent is approved by the voters; creation of a special purpose entity and if city council
members will sit on the board; requested a report and study of the preliminary plan of the
convention center project; and the timeline for the Convention Center Project.
J. EXECUTIVE DIRECTOR COMMENTS:
President Olivarri referred to the Executive Director comments. Chief Financial Officer
Constance Sanchez thanked Mr. Harris for his six -years of service to the Type A & B
Boards.
K. ADJOURNMENT
There being no further business, President Olivarri adjourned the meeting at 3:27 p.m.
This meeting may be 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 gover,um.4tc! body presiding over this
meting will be physically present at the location of this meeting unless this meeting is held pursuant to Texas Government
tide § 551.125 due to an emergency or other public necessity pursuant to Texas Government Code § 551.045.
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