HomeMy WebLinkAboutMinutes Corpus Christi B Corporation (Type B) - 08/10/2026City of Corpus Christi
Meeting Minutes - Final
Corpus Christi B Corporation - Type B
1201 Leopard Street
Corpus Christi, TX 78401
corpuschristitx.gov
Monday, August 10, 2026
8:30 AM 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.
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 Diana Summers to call the meeting to order.
President Diana Summers called the meeting to order at 8:30 a.m.
B. Call Roll:
City Secretary Rebecca Huerta called the roll and verified that a quorum of the Board
was present to conduct the meeting.
Claudia Mostaghasi arrived at 8:33 a.m. and Duke Canchola left the meeting at 8:40
a.m.
Present 6 - Board Member Victoria Holland, Board Member Johnny Philipello, Vice -President Jesus
Jimenez, President Diana Summers, Board Member Claudia Mostaghasi, and Secretary
Mark LaRue
Absent 1 Board Member Duke Canchola
C. PUBLIC COMMENT:
President Summers referred to Public Comment. There were no comments from the
public.
D. EXECUTIVE SESSION ITEMS:
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Corpus Christi B Corporation - Type
B
Meeting Minutes - Final August 10, 2026
President Summers recessed the Type B meeting for Executive Session at 8:33 a.m.
Item 1 was held during Executive Session. President Summers reconvened the meeting
at 10:09 a.m.
1. 26-1264 The Board will recess its regular session and reconvene in executive session
pursuant to Texas Government Code section 551.071 (attorney consultation)
and section 551.087 (economic development) to deliberate upon and seek legal
advice from its attorney regarding David v. City of Corpus Christi, et al. pending
in County Court, Count Court at Law No. 3, Nueces County, Texas and regarding
the economic development incentive agreement between the Corpus Christi B
Corporation and Elevate QOF, LLC for the development of a hotel and retail
project.
This E-Session Item was discussed in executive session.
E. AGENDA ITEMS:
2. 26-1271 Consider action on the 2024 Business Incentive Agreement between the Corpus
Christi B Corporation and Elevate QOF, LLC.
President Summers referred to Item 2.
Mr. Philipello made a motion approving a resolution of the Board of Directors of the
Corpus Christi B Corporation terminating the business incentive agreement between the
corporation and Elevate QOF, LLC for the development of a hotel and retail project;
approving a termination, settlement and release agreement between the corporation and
Elevate QOF, LLC and substituting the termination settlement and release agreement
therefore; directing the President to execute the agreement, and the Secretary to attest
the agreement; directing the delivery of documents: directing the transfer of
consideration; providing for repeal, providing for severability, and providing an effective
date, seconded by Mr. Jimenez and passed unanimously.
The Board went into recess at 10:13 a.m and reconvened at 10:47 a.m.
3. 26-1262 Motion authorizing the First Amendment to the Affordable Housing Project Loan
Agreement between the Corpus Christi B Corporation and Corpus Christi
Huntwick Avenue LP, commonly known as Palo Verde Senior Apartments,
increasing the incentive amount by $1,000,000.00, totaling $2,000,000.00 for
the development of 75 affordable senior rental housing units located at 5501
Huntwick Avenue and appropriating $1,000,000.00 from the Type B Affordable
Housing Fund FY 2026.
President Summers referred to Item 3. Interim Director of Planning and Economic
Development Jennifer Buxton presented the Corpus Christi Huntwick LP Type B Funding
Agreement and Budget Amendment for $1,000,000.
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Meeting Minutes - Final August 10, 2026
Ms. Buxton presented the following: Palo Verde Sr. Apartments; Palo Verde
Development Cost; and Palo Verde Sources.
Ms. Buxton and Matthew Ames with Danco Communities responded to board questions.
President Summers opened the Public Hearing
There were no comments from the public.
President Summers closed the Public Hearing.
Ms. Holland made a motion to approve item 3, seconded by Ms. Mostaghsi and passed
unanimously.
F. PUBLIC HEARINGS:
4. 26-1213 Public Hearing and Resolution authorizing the El Bolillo Bakery program project
for economic development of a bakery manufacturing business, creating up to
121 full-time jobs; approving up to $363,000.00 in business incentives to El
Bolillo Bakery, LLC for economic development; and approving a Business
Incentive Agreement with El Bolillo Bakery, LLC for a term of five years.
Item 4 was withdrawn by staff.
5. 26-1232 Public Hearing and Resolution authorizing the 1525 N. Shoreline Blvd. property
acquisition program project for economic development of 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.
President Summers referred to Item 5. Interim Director of Planning and Economic
Development Jennifer Buxton presented the 1525 N. Shoreline Blvd. Property Acquisition
Program Project.
Ms. Buxton presented the following: 1525 N. Shoreline Blvd. site map; pictures of the
current building; background information and Requested Action.
President Summers opened the Public Hearing
There were no comments from the public.
President Summers closed the Public Hearing.
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Meeting Minutes - Final August 10, 2026
Mr. Philipello made a motion to approve item 5, seconded by Mr. Jimenez and passed
unanimously.
6. 26-1214 Public Hearing and Motion authorizing Eight Corpus Christi B Corporation Small
Business Assistance Agreements with the following entities for two years:
LiftFund, Inc., Service Corps of Retired Executives (SCORE), Texas A&M
University - Corpus Christi, and Del Mar College (DMC) for a total amount not to
exceed $1,226,750 to assist small businesses within the City of Corpus Christi
to invest and create/retain jobs.
President Summers referred to Item 6. Chief Operating Officer Sarah Tindall presented
the eight Small Business Assistance Program Contracts.
The following individuals responded to boards questions: Ms. Tindall, Del Mar College
Dean of Workforce Programs and Corporate Services Dan Korus, Del Mar College
Small Business Internship Coordinator Jacqueline Roberson, TAMUCC Career and
Professional Development Center Director Chau Hoang, Del Mar College Apex
Program Director Robert Mirabal, and Lift Fund Market Manager Laura Estrada.
President Summers opened the Public Hearing
There were no comments from the public.
President Summers closed the Public Hearing.
Ms. Holland made a motion to approve item 6, seconded by Ms. Mostaghasi and passed
unanimously.
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.
G. EXECUTIVE DIRECTOR COMMENTS:
President Summers referred to the Executive Director comments. Assistant City
Manager Michael Dice had no comments.
H. ADJOURNMENT
There being no further business, President Summers adjourned the meeting at 11:36
a.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.
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