HomeMy WebLinkAboutMinutes Reinvestment Zone No. 3 - 07/28/2020City of Corpus Christi
Meeting Minutes
Reinvestment Zone No. 3
1201 Leopard Street
Corpus Christi, TX 78401
cctexas.com
Tuesday, July 28, 2020
9:30 AM 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.
A. Chairman Everett Roy to call the meeting to order.
Chairman Roy called the meeting to order at 9:37 a.m.
B. City Secretary Rebecca Huerta to call roll of the Corporation Directors.
City Secretary Rebecca Huerta called the roll and verified that a quorum of the
Board was present to conduct the meeting.
Note: Chairman Roy, Board Members Roland Barrera, Paulette Guajardo and
Greg Smith participated by video conference. Board Member Michael Hunter
participated telephonically.
Present 9 - Chair Everett Roy, Board Member Roland Barrera, Board Member Rudy
Garza, Board Member Paulette Guajardo, Board Member Greg Smith,
Board Member Michael Hunter, Board Member Joe McComb, Board
Member Ben Molina, and Board Member James Sedwick
Absent 3 - Board Member Gil Hernandez, Board Member Susan Hutchinson, and Vice
Chair Carolyn Vaughn
C. PUBLIC COMMENT:
Chairman Roy referred to Public Comment. There were no written public
comments submitted.
D. MINUTES:
1. Approval of the minutes of the Reinvestment Zone No. 3, June 23, 2020
Chairman Roy referred to Item 1.
Board Member Garza made a motion to approve the minutes, seconded by
Board Member Molina and passed unanimously (Board Members Carolyn
Vaughn, Gil Hernandez and Susan Hutchinson -absent).
E. FINANCIAL REPORT:
2. Reinvestment Zone No. 3 Financial Reports as of May 31, 2020.
City of Corpus Christi
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Chairman Roy referred to Item 2.
Director of Finance Heather Hurlbert presented the financial report for Tax
Reinvestment Zone No. 3 ending May 31, 2020, including: total assets;
revenues; expenditures; and fund balance.
A Council Member and Director Hurlbert discussed the following topic: the $4.8
million includes the future commitments excluding the rebates.
F. EXECUTIVE SESSION ITEMS:
3.
G. AGENDA ITEMS:
4.
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 agreement(s) involving SEA District Hotel Group L.P.
and/or other entities involved with a development at or near the
intersection of Brewster Street and Tancahua Street in the downtown
area 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
governmental body seeks to have locate, stay, or expand in or near the
territory of the governmental body and with which the governmental body
is conducting economic development negotiations and/or financial or
other incentives involving said business prospect
Chairman Roy referred to Executive Session Item 3. The Council went into
Executive Session at 9:42 a.m. The Council returned from Executive Session at
10:11 a.m.
The following motion was made by Board Member Hunter to approve Item 3,
seconded by Board Member Molina and passed unanimously (Board Members
Carolyn Vaughn, Gil Hernandez and Susan Hutchinson -absent).
Motion directing the City, as an agent of TIRZ #3, to prepare a Downtown
Development Reimbursement Agreement with SEA District Hotel Group L.P.,
for improvements to the property located near the intersection of Brewster
Street and Tancahua Street for a total incentive amount not to exceed
$1,415,000, which consists of 75% of the increment on the property reimbursed
over the course of ten years or until the expiration of TIRZ #3, whichever is
sooner, under the Project Specific Development grant program, the incentive
being contingent on the subsequent execution of an agreement and approval
of the agreement by the Board.
Resolution approving the Proposed FY 2021 Tax Increment
Reinvestment Zone Number Three Operating Budget in the amount of
$1,983,228 in revenues and $1,985,924 in expenditures to become
effective upon City Council approval during the normal budget process.
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Chairman Roy referred to Item 4.
Director of Management and Budget Eddie Houlihan and Executive Director of
Downtown Management District Alyssa Barrera Mason presented information
on the proposed budget for TIRZ #3: budgeted revenues; program budget;
proposed expenses; budget overview; total revenues; total expenditures; gross
ending balance; and net ending balance.
Board Members, Director Houlihan and Director Mason discussed the following
topics: the 600 Building project is still going forward; the manufacturer would
install and maintain the smart parking meters and there will be a profit sharing
included; how would the smart parking meters effect the parking study and
plan; and the parking decision is made by the parking enforcement division.
Board Member Smith made a motion to amend the revenue amount to
$1,930,767, seconded by Board Member Molina.
Board Member Smith made a motion to approve Item 4 as amended, second
by Board Member Guajardo and passed unanimously (Gil Hernandez, Carolyn
Vaughn and Susan Hutchinson -absent).
H. PRESENTATION ITEMS:
5. TIRZ #3 2020 Incentives Update & Review
Chairman Roy referred to Item 5.
Executive Director of Downtown Management District Alyssa Barrera Mason
presented information on the TIRZ #3 downtown incentives: adopted incentive
programs; incentive investment and value tracking; return on investment; new
commercial tenant finish -out; steps to new tenant; Chaparral Street property
improvement; Chaparral Street vacancy; downtown living initiative;
development agreement; project specific development agreement
calculations; catalytic projects; and recommendation/next steps.
Board Members and Director Mason discussed the following topics: Board
Members thanked staff for their hard work on these projects; a Board Member's
concern of changing the guidelines in the amount of money available due to
COVID-19; we may not be able to get the investments needed for the
downtown projects; and a Board Member's suggestion to keep existing
strategies until conditions change with COVID-19.
6. Discussion on possible meeting schedule changes.
Chairman Roy referred to Item 6.
Senior Management Analyst Randy Almaguer presented the following
information: discussion to move the TIRZ #3 meetings from monthly to
quarterly with the option of having special meetings if needed.
I. IDENTIFY FUTURE AGENDA ITEMS:
Chairman Roy referred to Identify Future Agenda Items. No items were
discussed or identified.
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J. ADJOURNMENT
This meeting was adjourned at 10:54 a.m.
* Regardless of the agenda heading under which any item is listed, any word or phrase of any item listed on this agenda shall
be considered a subject for consideration for purposes of the Texas Open Meetings Act and other relevant laws, and the
Board of Directors may deliberate and vote upon any such subject and resolutions related thereto. Any descriptions of
property or amounts stated in this agenda are descriptive and not restrictive, and property and amounts may be changed in
the motions, actions or documents. In addition to other items listed in this agenda, policies and procedures of this
corporation, legal analysis of any items, policies or procedures, and any items that are currently receiving funding from this
corporation may be discussed and deliberated and these matters are added as subjects of discussion to this meeting. 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.
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