HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 05/19/2025City of Corpus Christi
Meeting Minutes - Final
Corpus Christi B Corporation - Type B
1201 Leopard Street
Corpus Christi, TX 78401
cctexas.com
Monday, May 19, 2025
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.
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 Alan Wilson to call the meeting to order.
President Alan Wilson called the meeting to order at 1:32 p.m.
B. Call Roll:
Administrative Support Norma Duran called the roll and verified that a quorum of the
Board was present to conduct the meeting.
Board Member Reddy arrived at 1:43p.m.
Present 7 - Board Member Mark LaRue, Board Member Victoria Holland, Board Member Vishnu
Reddy, Board Member Johnny Philipello, Secretary Jesus Jimenez, Vice -President Diana
Summers, and President Alan Wilson
C. PUBLIC COMMENT:
President Wilson referred to Public Comment.
John Bell, Corpus Christi, TX. spoke regarding hotel development on Padre Island.
D. MINUTES / EXCUSE ABSENCES
1. 25-0672 Approval of Minutes for the Type B Board, April 21, 2025 Regular Meeting.
President Wilson referred to Item 1. Mr. Philipello made a motion to approve the minutes
as presented, seconded by Mr. Jimenez, and passed unanimously.
Ms. Holland requested an excused absence for the April 21, 2025 Regular Meeting. Mr.
LaRue made a motion to excuse the absence, seconded by Ms. Summers and passed
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Corpus Christi B Corporation - Type
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Meeting Minutes - Final May 19, 2025
unanimously.
Dr. Reddy requested an excused absence for the April 21, 2025 Regular Meeting. Mr.
LaRue made a motion to excuse the absences, seconded by Mr. Jimenez and passed
unanimously.
E. FINANCIAL REPORT
2. 25-0765 Type B Financial Reports as of March 31, 2025
President Wilson referred to Item 2. Director of Finance Sergio Villasana presented the
financial reports as of March 31, 2025.
Board Members and Mr. Villasana discussed the following: requested a breakdown for
the operating expenditures; whether the Bear Lane Project was approved by the board;
and reason for the sales tax revenue increase for the month of January.
F. EXECUTIVE SESSION ITEMS:
3. 25-0754 Executive session pursuant to Texas Government Code § 551.071 and
Texas Disciplinary Rules of Professional Conduct Rule 1.05 to consult with
attorneys concerning legal issues related to economic development incentive
agreement(s) involving a potential economic development agreement with
Padre Island North, LLC regarding development at or near 15210-15222
Winward Drive, TX 78418; and pursuant to Texas Government Code §
551.087 to discuss or deliberate regarding commercial or financial information
relating to some or all of the aforementioned matter(s) or entities that the
corporation seeks to have locate, stay, or expand in or near the territory of the
City of Corpus Christi, and with which the corporation is conducting economic
development negotiations and/or financial or other incentives involving said
business prospect.
This E-Session Item was discussed in executive session.
G. AGENDA ITEMS:
4. 25-0753 Motion authorizing Amendment No. 1 to the Reimbursement Agreement with
Elevate QOF LLC, to extend the construction completion date of September 30,
2025, to March 31, 2026.
President Wilson referred to Item 4. Compliance Officer for the Corpus Christi Regional
Economic Development Corporation Randy Almaguer presented an amendment to
extend the construction completion date to March 31, 2026. Mr. Almaguer stated there
were some delays caused by chain distributions and weather related setbacks. He said
the developer emphasized that the extension will help ensure the delivery of a high quality
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Meeting Minutes - Final May 19, 2025
projects and thanks the board for the continued support.
Boards Member and Mr. Almaguer discussed the following: scheduling measures have
been implemented to reduce delays in the construction area.
Mr. Philipello made a motion to approve item 4, seconded by Mr. Jimenez, 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:
5. 25-0757 Presentation and Discussion on the Proposed FY 2025-2026 Corpus Christi
Type B Corporation Budget
President Wilson referred to Item 4. Director of Economic Development Arturo Marquez
presented the proposed FY2025-2026 Corpus Christi Job and Development
Corporation Budget.
Mr. Marquez presented the following: Budget Overview -Economic Development;
Proposed Revenue Economic Development; Major Business Incentives; Small Business
Projects; FY26 Proposed Additional Funding; Type B Incentives; FY26 Proposed CIP
Projects; Budget Overview -Housing; Proposed Revenue -Housing; Proposed
Expenses -Housing; Affordable Housing; Budget Overview -Streets; Proposed
Revenue -Streets; Proposed Expenses -Streets; Budget Overview -New Facilities Fund;
Budget Overview -New Streets Fund; and Budget Overview -New Seawall & City Wide
Flood Control Fund.
Board Members and Mr. Marquez discussed the following: request for supporting data
for the fund increase for the Small Business Projects; if there will be craft training skills
provided by the colleges; breakdown of the Harbor Playhouse improvements; and Infill
Housing Program funds will roll back into the Housing Fund balance for future projects.
J. EXECUTIVE DIRECTOR COMMENTS:
President Wilson referred to the Executive Director comments. City Manager Peter
Zanoni had no comments.
K. ADJOURNMENT
There being no further business, President Wilson adjourned the meeting at 2:51 p.m.
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Corpus Christi B Corporation - Type
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Meeting Minutes - Final May 19, 2025
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.
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