HomeMy WebLinkAbout033843 ORD - 01/27/2026ORDINANCE APPROVING AN AMENDMENT TO THE TAX INCREMENT
REINVESTMENT ZONE NO. 2 ("TIRZ #2") OPERATING BUDGET BY
AUTHORIZING THE TRANSFER OF $2,100,166.00 FROM CIP
RESERVE TO THE TIRZ #2 OPERATING FUND FOR THE BRISCOE
KING PAVILION PROJECT; INCREASING FUNDS IN THE AMOUNT OF
$2,100,166.00 FOR NEEDED IMPROVEMENTS AND RENOVATION TO
THE BRISCOE KING PAVILION PROJECT; APPROPRIATING
$2,100,166.00 FROM THE UNRESERVED FUND BALANCE OF THE
REINVESTMENT ZONE NO. 2 FUND; AND AMENDING THE FY 2026
OPERATING BUDGET ADOPTED BY ORDINANCE NO. 033730 BY
INCREASING EXPENDITURES BY $2,100,166.00, FOR PAYMENT TO
NUECES COUNTY FOR THE BRISCOE KING PAVILION PROJECT.
WHEREAS, in 2000, through Ordinance 024270, the City of Corpus Christi created a tax
increment financing district, to be known as "Reinvestment Zone Number Two, City of
Corpus Christi, Texas," over a portion of the City on Padre Island;
WHEREAS, Ordinance 024270 included a preliminary reinvestment zone financing plan;
WHEREAS, on September 29, 2009, the City Council passed Ordinance 028329, which
approved the Revised Project and Financing Plans for the Reinvestment Zone Number
Two, City of Corpus Christi, Texas (the "Plan");
WHEREAS, the Plan was last amended on September 5, 2023, by Ordinance 033160,
which included the Briscoe King Pavilion Project; and
WHEREAS, on December 9, 2025, the TIRZ #2 Board of Directors approved an additional
$2,100,166.00, for needed improvements, renovation to the Briscoe King Pavilion Project;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL FOR THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. The City Council approves the transfer of $2,100,166.00, from the CIP
Reserve to the TIRZ #2 Operating Fund for the Briscoe King Pavilion Project.
SECTION 2. That $2,100,166.00, is appropriated from the unreserved fund balance of
the Reinvestment Zone No. 2 Fund for use on the improvements and renovation
necessary for the Briscoe King Pavilion Project, and the Briscoe King Pavilion Project has
been approved in the 2023 Amended Project and Financing Plan for TIRZ #2.
SECTION 3. The FY 2025-2026 Operating Budget adopted by Ordinance No. 033730 is
amended by increasing expenditures by $2,100,166.00.
SECTION 4. That payment in the amount of $2,100,166.00, is authorized from TIRZ #2
to be sent to Nueces County for the Briscoe King Pavilion Project, in accordance with
Amendment No. 1 to the Briscoe King Project Development Agreement with Nueces
County.
1
3384
That the foregoing ordinance was read for the first time and passed to its second
reading on this the I3141\ day of JUG , 2026.
PASSED AND APPROVED on second reading, this the v�1 day off
2026.
Paulette Guajardo, May
ATTEST:
Rebecca Huerta, City Secretary
2
O3384':1)
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of the Finance & Procurement Department of the City of Corpus Christi, Texas (or his/her
duly authorized representative), hereby certify to the City Council and other appropriate officers that the
money required for the current fiscal year's portion of the contract, agreement, obligation or
expenditure described above is in the Treasury to the credit of the Fund specified above, from which it is
to be drawn, and has not been appropriated for any other purpose. Future payments are subject to
annual appropriation by the City Council.
City Council Action Date: January 13, 202%(1) Legistar Number: 25-1983
Agenda Item: Ordinance approving an amendment to the Tax Increment Reinvestment Zone No. 2
("TIRZ #2") Operating Budget by authorizing the transfer of $2,100,166.00, from CIP reserve to the TIRZ
#2 Operating Fund for the Briscoe King Pavilion Project; increasing funds in the amount of $2,100,166.00,
for needed improvements and renovation to the Briscoe King Pavilion Project; appropriating
$2,100,166.00, from the unreserved fund balance of the Reinvestment Zone No. 2 Fund; and amending
the FY 2026 operating budget adopted by Ordinance No. 033730 by increasing expenditures by
$2,100,166.00, for payment to Nueces County for the Briscoe King Pavilion Project.
Amount Required:(Amount to be Certified) $2,100,166
Fund Name
Accounting Unit
Account No.
Activity No.
Amount
Packery Channel Projects TIF #2
3278-57-
5000303278
550970
$2,100,166
Total
$2,100,1,66
\l/
❑ Certification Not Required
erect r of the Finance & Procurement r of the Finance & Procurement Department
Date: