HomeMy WebLinkAbout033997 RES - 08/18/2026Resolution authorizing the 1525 N. Shoreline Blvd. property acquisition
program project of the Corpus Christi B Corporation for economic
development of tourism, convention, concession, public events, and/or
parking facility; approving $646,875.00 to purchase the property, and up to
$10,500.00 for closing costs, totaling $657,375.00 for the program project to
enhance economic development as an extension to the Hilliard Center.
WHEREAS, the Texas Legislature in Section 501 of the Local Government Code
(Development Corporation Act of 1979) empowered local communities with the ability to adopt an
optional local sales and use tax as a means of improving the economic health and prosperity of
their citizens, authorizing the economic development expenditures for Type B Corporation
projects under the Tx. Local Government Code Chapter 505;
WHEREAS, the residents of the City of Corpus Christi have authorized the adoption of a
sales and use tax to be administered by a Type B Corporation at the rate of one -eighth of one
percent to be imposed for 20 years;
WHEREAS, the Corpus Christi B Corporation at a meeting held on August 10, 2026, found
that it is in the best interest of the residents of the City of Corpus Christi that up to $657,375.00
from the Corpus Christi B Corporation Economic Development Fund be reserved for the 1525 N.
Shoreline Blvd. property acquisition program project to promote economic development for
tourism, convention, concession, public events, and/or parking facility, approving the amount of
$646,875.00 to purchase the property, and not to exceed $10,500.00 for closing costs, totaling
$657,375.00 for the property purchase to enhance economic development as an extension to the
Hilliard Center;
WHEREAS, on August 10, 2026, in accordance with Tx. Local Government Code Section
505.159, the Corpus Christi B Corporation held a public hearing for the 1525 N. Shoreline Blvd.
property acquisition program project; and
WHEREAS, the City Council finds that the 1525 N. Shoreline Blvd. property acquisition
program project aligns with the City's economic development goals by fostering economic
development enhancement for projects related to recreational or community facilities in
accordance with Tx. Local Government Code Section 505.152, and is an eligible Type B
expenditure under Tx. Local Government Code Sec. 505.152.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS:
Section 1. The City Council finds that the foregoing statements included in the preamble
of this resolution are true and correct and hereby affirm such findings for all intents and purposes.
Section 2. The City Council approves the 1525 N. Shoreline Blvd. property acquisition
program project and funding for the project up to $657,375.00 from the Corpus Christi B
Corporation Economic Development Fund.
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PASSED and APPROVED on the I day of
ylynn'Paxson, Mayor Pro
Tem
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ATTE T:
e.-cca Huerta, City Secretary
, 2026.
Page 1 of 1
SCANNED
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: August 18, 2026
Legistar Number: 26-12.219
Agenda Item: Resolution authorizing the 1525 N. Shoreline Blvd. property acquisition program project
of the Corpus Christi B Corporation for economic development of tourism, convention, concession, public
events, and/or parking facility; approving $646,875.00 to purchase the property, and up to $10,500.00 for
closing costs, totaling $657,375.00 for the program project to enhance economic development as an
extension to the Hilliard Center.
Amount Required: (Amount to be Certified) $ 657,375.00
Fund Name
Accounting Unit
Account No.
Activity No.
Amount
Type B Economic
Development
1146-11220-57
,5
'CI i.� v'
$657,375.00
J
Total
$657,37�5.0P
❑ Certification Not Required
Director of -the Finance & Procurement
Date: