HomeMy WebLinkAbout033813 RES - 12/09/2025Resolution authorizing Tax Settlement Agreements with the City of San
Antonio, Texas, for total payments to the City of Corpus Christi of
$1,770,000.00 for tax years 2024 through 2027 for the Barney Davis and
Nueces Bay Power Plant properties operated by CPS Energy.
Whereas, the City of San Antonio, Texas, acting by and through the City Public
Service Board of San Antonio, Texas, rebranded as CPS Energy, has offered tax
settlement agreements to pay to the City of Corpus Christi a total of $965,000.00 for the
Barney Davis Power Plant and $805,000.00 for the Nueces Bay Power Plant for tax years
2024 to 2027 in exchange for the release of any ad valorem tax claims until December
31, 2035;
Whereas, the final execution of each tax settlement agreement by the City of San
Antonio is contingent upon all relevant taxing entities executing such agreements and is
subject to the Appraisal District's acknowledgment that the properties are tax-exempt; and
Whereas, in the event that all the taxing entities for the Barney Davis or Nueces
Bay Power Plant properties do not agree to enter into the tax settlement agreement with
the City of San Antonio, the City may enter into a stand-alone tax settlement agreement
for such property.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS, THAT:
SECTION 1. The City Manager or designee is authorized to execute a tax settlement
agreement with the City of San Antonio for the Barney Davis Power Plant property.
SECTION 2. The City Manager or designee is authorized to execute a tax settlement
agreement with the City of San Antonio for the Nueces Bay Power Plant property.
P, D and APPROVED on the day of �Z,21�1( , 2025.
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P lette Guajardo, M
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033813