HomeMy WebLinkAboutM2002-378 - 11/12/2002MOTIONS - 11/12/02
33.d. Motion prioritizing and nominating applications for Commercial Revitalization
Deduction Allocations.
ATTEST:
SamueJ L:Ne&l,-Jr., Ma~'or
City of Corpus Christi
H 23E2 - ~'78
COMMERCIAL REVITALIZATION
ALLOCATIONS AND APPLICATIONS
The fundable applications are all ranked based on the time submitted.
$12,000,000 in CRD allocations for Corpus Christi Renewal Community for 2002
APPLICATION
1. International Bank of Commerce: Regional bank
headquarters to be constructed at 221 S. Shoreline (old
Darryl's Restaurant location)
Requested allocation: $5,000,000
2. JLG Joint Venture: Shoreline Medical Clinic project, Longevity
and Wellness Center of South Texas, Inc., 401 S. Shoreline.
This project includes the demolition of an existing old car
dealership and the construction of a major medical facility.
Requested allocation: $9,000,000
ALLOCATION
$5,000,000
$7,000,000
TOTAL NOMINATIONS FOR CORPUS CHRISTI'S 2002
ALLOCATION
$12,000,000
$11,000,000 in CRD Allocations (estimate)
Available November 15, 2002, through state aggregation for 2002
APPLICATION
3. JLG Joint Venture: Shoreline Medical Clinic project, Longevity
and Wellness Center of South Texas, Inc., 401 S. Shoreline.
This project includes the demolition of an existing old car
dealership and the construction of a major medical facility.
Requested allocation: $9,000,000 (see 2 above)
4. Water Street Oyster Bar: Renovation of existino space in a
two-phase process. First phase is $200,000 in repair and
structural cost. Second Phase is expansion Of the kitchen
facilities and is estimated at $200,000.
Reouested allocation: $400,000
5. Agua Java: Interior demolition and construction of a
restaurant/coffee bar in the Water Street Market complex
through the H20 Market Trust at 304 N. Chaparral St.
Requested allocation: $150,000
6~ Texas Bird and Butterfly Paradise: Phase I construction of the
Texas Bird and Butterfly Paradise tourist attraction on Corpus
Christi Beach to be located in conjunction with old Pirates of
the Gulf ProjecL
Requested allocation: $1,950,000
ALLOCATION
$2,000,000
$400,000
$150,000
$1,950,000
-333-
7.. Erma's Sack-N-Pack: Expansion of an existing restaurant at
1331 Sam Rankin St.
Requested allocation: $30,000
8. Airtrol Supply building renovation: Application by owner
Johnstone Supply for limited renovation of the buildin,q at
2701 Agnes St.
Requested allocation: $100,000
9. Oil Industries building: Extensive renovation of the office
building at 723 N. Upper Broadway
Requested allocation: $400,000
10.Old HEB corporate office building: Substantial rehabilitation
including asbestos removal of the building located at 807 N.
Upper Broadway (the building has been vacant for 17 years)
Requested allocation: $700,000
11. Ray's Bar-B-Que: Rehabilitation and expansion of existing
restaurant at 2214 Winnebago.
Requested allocation: $30,000
12. Ebony's Fashions: Rehabilitation of a structure for retail
business at 1008 Sam Rankin.
Requested allocation: $35,000
13. The Lord's House: Rehabilitation of an existing building for a
restaurant at 1010 Sam Rankin.
Requested allocation $35,000
$30,000
$100,000
$400,000
$700,000
$30,000
$35,000
$35,000
TOTAL NOMINATIONS FOR STATE AGGREGATION
ALLOCATION FOR 2002
$5,830,000
TOTAL NOMINATIONS FOR CRD ALLOCATIONS
$17,830,000
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