HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 07/28/2025 - SpecialCity of Corpus Christi
Meeting Minutes - Final
Corpus Christi B Corporation - Type B
1201 Leopard Street
Corpus Christi, TX 78401
cctexas.com
Monday, July 28, 2025
1:30 PM Council Chambers
Special Meeting
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 1:34 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.
Board Members Diana Summers and Mark LaRue participated virtually by WebEx.
Present 6 - Board Member Mark LaRue, Board Member Vishnu Reddy, Board Member Johnny
Philipello, Secretary Jesus Jimenez, Vice -President Diana Summers, and President Alan
Wilson
Absent 1 - Board Member Victoria Holland
C. PUBLIC COMMENT:
President Wilson referred to Public Comment. There were no comments from the public.
D. MINUTES / EXCUSE ABSENCES
E. FINANCIAL REPORT
F. EXECUTIVE SESSION ITEMS:
G. AGENDA ITEMS:
City of Corpus Christi
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Corpus Christi B Corporation - Type
B
Meeting Minutes - Final July 28, 2025
1. 25-1208 Resolution authorizing a secondary Revenue Guarantee Agreement with Frontier
Airlines and Corpus Christi B Corporation, as part of the secondary funding
source for the Air Service Minimum Revenue Guarantee Project, in an amount
totaling $394,747, with FY 2026 funding of $394,747 from Type B Corporation.
President Wilson referred to Item 1. Interim Director of Aviation Jeremy Valgardson
presented a secondary Revenue Guarantee Agreement with Frontier Airlines and the
Type B Corporation.
Mr. Valgardson presented the following: Airline MRG Key Points and the Needed
Participants & Funds.
Board Members and Mr. Valgardson discussed the following topics: whether the funds
were up to $394,747 and the funds will return to the Type B fund balance if not used.
Mr. Jimenez made a motion to approve item 1, seconded by Mr. Reddy, and passed
unanimously.
2. 25-1206 Resolution authorizing the execution of a Revenue Guarantee Agreement with
the City as part of the B Corporation's Air Service Minimum Revenue Guarantee
Project, in an amount totaling $250,000, with FY 2026 funding of $250,000 from
Type B Corporation.
President Wilson referred to Item 2. Interim Director of Aviation Jeremy Valgardson
presented a Revenue Guarantee Agreement with the City as part of the Type B
Corporation's Air Service Minimum Revenue Guarantee Project.
Mr. Valgardson presented the following: Airline MRG Key Points and the Needed
Participants & Funds.
There were no questions from the board.
Mr. Reddy made a motion to approve item 2, seconded by Mr. Jimenez, 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 Wilson referred to the Executive Directors comments. Assistant City Manager
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Corpus Christi B Corporation - Type
B
Meeting Minutes - Final July 28, 2025
Heather Hurlbert thanked the board for their participation with the project.
K. ADJOURNMENT
There being no further business, President Wilson adjourned the meeting at 1:44 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 3 Printed on 9/15/2025