HomeMy WebLinkAbout033387 RES - 06/18/20241
Resolution approving a Chapter 380 agreement with Corpus Christi
Capital Group LLC and Corpus Christi Party Hotel LLC for the
development of Casa Blanca Village Apartments, in the amount of up
to $5,000,000.00 over a ten year period for up to 200 apartment units
focused on workforce residences.
WHEREAS, Corpus Christi Capital Group LLC and Corpus Christi Party Hotel LLC
has proposed to construct an approximately $60,680,000.00 Casa Blanca Village
Apartments within the City of Corpus Christi, and to develop 400 apartment units on said
property; and
WHEREAS, Corpus Christi Capital Group LLC and Corpus Christi Party Hotel LLC
has applied for incentives through a Chapter 380 agreement, which would provide
reimbursement payments over ten years in the amount not to exceed $5,000,000.00 for
up to 200 apartment units focused on workforce residences; and
WHEREAS, the City recognizes the positive economic impact that the proposed
Chapter 380 agreement will have on the City through creation of jobs, stimulation of
business and commercial activity in the City, and increased tax revenues related to the
construction of the proposed Casa Blanca Village Apartments; now therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
SECTION 1. The City Council specifically finds that the foregoing statements included in
the preamble of this resolution are true and correct and adopts such findings for all intents
and purposes related to the authorization of this project.
SECTION 2. That the City Manager or designee is authorized to execute a Chapter 380
agreement with Corpus Christi Capital Group LLC and Corpus Christi Party Hotel LLC in
the total amount not to exceed $5,000,000.00 for the development of up to 200 apartment
units focused on workforce residences.
PASSED AND APPROVED on the 1 day of dui& , 2024:
ATTEST:
Rebe"'a HuM.a -RV
erta
F CORPUS CHRISTI
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Paulette Guajardo
City Secretary Mayor
033387
SCANNED