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HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 01/22/2024 City of Corpus Christi 1201 Leopard Street J \ Corpus Christi,TX 78401 �( A cctexas.com Meeting Minutes - Final Corpus Christi B Corporation - Type B Monday,January 22,2024 1:30 PM 6th Floor Conference Room 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 Leah Pagan Olivarri to call the meeting to order. President Leah Olivarri called the meeting to order at 1:31 p.m. B. Call Roll: City Secretary Rebecca Huerta called the roll and verified that a quorum of the Board was present to conduct the meeting. Board Member Robert Tamez arrived at 1:33p.m. Present 5- President Leah Pagan Olivarri, Secretary Diana Summers, Board Member Robert Tamez, Vice-President Alan Wilson, and Board Member Mark LaRue Absent 2- Board Member Jesus Jimenez,and Board Member Eric Evans C. PUBLIC COMMENT: President Olivarri referred to Public Comment. There were no comments from the public. D. MINUTES/EXCUSE ABSENCES 1. 24-0084 Approval of Minutes for the Type B Board December 11, 2023 Regular Meeting. President Olivarri referred to Item 1. Mr. Wilson made a motion to approve the minutes as presented, seconded by Ms. Summers, and passed unanimously. E. FINANCIAL REPORT 2. 24-0134 Type B Financial Reports as of November 30, 2023 City of Corpus Christi Page 1 Printed on 3/20/2024 SCANNED Corpus Christi B Corporation-Type Meeting Minutes-Final January 22,2024 B President Olivarri referred to Item 2. Interim Director of Finance Alma Casas presented the financial reports as of November 30, 2023. President Olivarri asked to do more affordable housing projects in the future. F. EXECUTIVE SESSION ITEMS: G. AGENDA ITEMS: 3. 24-0137 Motion authorizing a business incentive grant agreement with Elevate QOF LLC, for a total incentive amount not to exceed $2,000,000 for Homewood Suites by Hilton at the corner of N Chaparral Street and Lomax Street for costs associated to FEMA AE Flood Zone requirements, exterior upgrades, and lease spaces, facing N. Chaparral Street; authorizing the expenditure of up to $2,000,000 from the Type B unreserved fund balance; and amending the fiscal year 2023-24 budget to increase expenditures by $2,000,000.00. President Olivarri referred to Item 3. Corpus Christi Regional Economic Development Corporation Compliance Officer Randy Almaguer presented an overview of the incentive agreement of up to $2,000,000 with Elevated QOF LLC. Mr. Almaguer stated the company must retain 65 jobs created in accordance with the agreement. Mr. Wilson made a motion to approve item 5, seconded by Mr. La Rue, and passed unanimously. H. PUBLIC HEARING: 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: J. EXECUTIVE DIRECTOR COMMENTS: President Olivarri referred to the Executive Director comments. City Manager Peter Zanoni had no comments. K. ADJOURNMENT There being no further business, President Olivarri adjourned the meeting at 1:42 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 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 Page 2 Printed on 3/20/2024