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Home My WebLink About020558 ORD - 01/10/1989AN ORDINANCE AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH THE CORPUS CHRISTI INDUSTRIAL PARK FOR DEVELOPMENT FEES ASSOCIATED WITH THE INDUSTRIAL TECHNOLOGY PARK. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. That the City Manager is hereby authorized to execute an agreement with the Corpus Christi Industrial Park for development fees associated with the Industrial Technology Park, all as more fully set forth in the agreement, a substantial copy of which is attached hereto and made a part hereof, marked Exhibit A. 207AT094.ord 20558 MICROFILMED DEVELOPMENT FEES AGREEMENT The City of Corpus Christi, Texas (the "City"), and the Corpus Christi Industrial Park, (the "Park"), a non-profit corporation duly incorporated under the laws of the State of Texas, for the purpose of continuing the development of the Industrial Tech- nology Park at Bear Lane and Padre Island Drive, hereby contract and agree as follows: 1. Park, or the Corpus Christi Industrial Foundation (the "Foundation") acting on behalf of Park, will pay or cause to be paid all currently existing development fees, including lot, acreage, and prorata fees, on the property designated as Phase I of the industrial subdivision described in that certain Agreement dated July 17, 1980, a copy of which is attached hereto as Exhibit 1. 2. All such sums of money paid by the Park or Foundation, or caused to be paid by the Park or Foundation, as development fees for Phase I, including the sums paid or caused to be paid on Lot 3, Block 3, and Lot 6, Block 2, Industrial Technology Park, shall be credited, dollar for dollar, toward the Park's share of the cost of improve- ments for any subsequent phase of development as set forth in provision 10 of the July 17, 1980 Agreement, attached as Exhibit 1 hereto. 3. All covenants and agreements of the Agreement of July 17, 1980, shall be binding and enforceable as written, and the parties hereby reaffirm the goals and objectives of the July 17, 1980 Agreement. EXECUTED in duplicate originals the day of December, 1988. ATTEST: City Secretary APPROVED: EORGE, CITY •TTORNEY Assistant City Attorney CORPUSRISTI INDUSTRIAL PARK (i 0' By:,G- Joh Garner, President CITY OF CORPUS CHRISTI By: Juan Garza, City Manager Exhibit A � � 4 AGREEMENT The CITY OF CORPUS CHRISTI, TEXAS, (the "City"), acting by and through its duly authorized City Manager; and the CORPUS CHRISTI INDUSTRIAL PARK, (the "Park"), a non-profit corporation duly incorporated under the laws of the State of Texas; for the purpose of developing an industrial park designed to attract new industrial facilities and new employment opportunities to Corpus Christi, hereby contract and agree as follows: 1. Park, the owner of the surface of the property described on the at- tached Exhibit A, (hereinafter "Phase I"), will plat Phase I as an industrial subdivision in a manner acceptable to City and will file for record restrictions in substantially the form attached as Exhibit B. Changes may be made in such restrictions prior to the time they are executed and filed for record with the approval of City and Park. 2. Park will use its best efforts to contract, under termsresentl P Y proposed, for the sale' of 22.03 acres of such land to Harris Corporation or its - -affiliate, Dracon Corporation ("Harris/Dracon")., on or about July16,1 1980, or as soon thereafter as possible. 3. Park will use its best efforts to sell the remainder of Phase I to • other purchasers who will provide reasonable assurance that theywill construct. industrial facilities -meeting the requirements of such restrictions and will pro, • vide jobs which will be new to the community and commensurate with theP ublic in- vestment n-vestment in the lots being sold. 4. Park will pay to City the sum of $150,000 for the purpose of defray . i nc the costs of sanitary sewers for Phase L, together with defrayingportion a of the • remainder of the improvement costs incurred by City in connection therewith. Sa1d sum shall be payble to the City on demand as -required for such costs 1 ' as they are -incurred. 5. City will install gas lines and provide service to occupants of Phase I as needed, at a reasonable cost to the occupant based upon theublished City C� ty fey schedule for taps. 6. City will contract for the construction of water mains, sanitary sewei streets, and .storm drainage for the property in Phase I as set forth in the plans and specifications approved by the Council of City on May 14, 1980. Park9 rants all rights to City and its contractors to use the property during the period of construction, in no event to be earlier than August 1, 1980, in any manner which i! reasonably necessary for the furtherance of said construction. 7. Upon the sale by Park of any lot in Phase I, Park will pay to City $6,457.29 per acre, plus interest at the rate of 10% per year from the date of completion of the improvements. Said amount shall be due and payable on the date of sale by Park; provided, however, that such payment by Park shall not be re- quired if: (a) The Corpus Christi Industrial Commission determines in writing that jobs will be created on the property being sold which will be new to the community and commensurate with the public investment in the lots being sold; (b) The Corpus Christi Industrial Commission approves the plan, speci- ficiations and timetable for the construction of facilities which pro- vide such jobs, provided that the Corpus Christi Industrial Commission may approve amendments to plans and specifications and allow reasonable extensions of time upon the request of the purchaser or Park; and (c) The first phase of construction is completed according to the plan, specifications and timetable as finally approved by the Corpus Christi Industrial Commission.. In the alternative, such payment by Park shall not be required if the Corpus Christi Industrial Commission determines in writing that Park has retained the right to re- purchase the property in the event the purchaser fails to construct facilities which will provide jobs new to the community and commensurate with the public in- vestment. If a sale is made with the right to repurchase retained by Park and the purchaser fails to construct facilities to provide such jobs, Park agrees to exer- cise its right to repurchase the property or pay to City $6,457.29 per acre plus :interest as set forth above. 8. Park will properly maintain the street right of way area adjacent to any unsold lots in Phase I. Such duties shall include mowing the grassy areas be- tween the street and sidewalks in the right of way, keeping the area clear of debris and obstructions, and maintaining the area with due regard to preserving the value of the City improvements. Park will insure that any agricultural acti- vities allowed on unsold lots in Phase I shall not result in damages to the streets sidewalks, storm drainage or other improvements made by City. 9. Park will use its best efforts to obtain the guarantee of the Corpus Christi Industrial Foundation for the performance of Park in all the duties, obli- gations and covenants ascribed to Park under this agreement. In the event Park 9 shall convey to the Corpus Christi Industrial Foundation any or all of the lots in Phase I when no industrial purchaser of the lots has been obtained, the payment by Park of the $6,457.29 per acre charge described in paragraph 7 shall not be required; provided that, the Corpus Christi Industrial Foundation will agree to hold the property subject to the same duties and obligations required of Park under this agreement. 10. City and Park intend to develop adjacent property in any subsequent phases of this project under similar terms to this agreement, as the demand there- for arises, and with City completing the necessary improvements on a timetable commensurate with the demand for development. Park's share of the cost of improve- ments for any subsequent phase of development, in the absence of any agreement otherwise, will be the sum of $175,000; and Park will be obligated to pay an addi- tional charge under provisions similar to paragraph 7 of this agreement based upon the remaining cost of.improvements to be prorated according to the acres platted for sale as lots to industrial purchasers.- - urchasers.- EXECUTED in duplicate originals this 1 7 day of July, 1980. CORPUS CHRISTI INDUSTRIAL PARK ATTEST: __APPROVED: AY OF JULY, 1980: J. BRUCE AYCOCK, CITY ATTORNEY B Assitant ,ty Attorney By Jo n Garne , President CITY OF CORPUS CHRISTI, TEXAS By 141.1 R. Ma vin Towns • City Manag 5� L 34 AUTIORI?ED 3Y COUNCIL 7'14 8O g. SEC:it , ;er That the foregoing second reading on following vote: Betty N. Turner David Berlanga, Sr. Leo Guerrero Clif Moss ordinance was read for the first time and passed to its this the day of �@�,�Q(.Q.�' 19 by the That the foregoing ordinance third reading on this the following vote: Betty N. Turner David Berlanga, Sr. Leo Guerrero Clif Moss was Bill Pruet Mary Rhodes Frank Schwing, Jr. Mary Pat Slavik Linda Strong read fo the second time and pled to its day of kj n � � 19 � , by the Bill Pruet Mary Rhodes Frank Schwing, Jr. Mary Pat Slavik Linda Strong That the foregoing orance was read for t this the /0 day of ��1 I��,(,(Q, 19 Betty N. Turner David Berlanga, Sr. Leo Guerrero Clif Moss PASSED AND APPROVED, this the ATTEST: City Secretary APPROVED: 0)LDAY OF —DV, ID HAL GEORGE, CITY ATTORNEY de- iFLAii/ sistant Ci`" Attorney By 99.044.01 -41/P Oduct 11,±) third time and passed finally on by the following vote: AC"— (1-6-1Caitk, Bill Pruet Mary Rhodes Frank Schwing, Jr. Mary Pat Slavik Linda Strong ab./01Ait day of L 19 MAYOR THE CITY OF CORPUS CHRISTI, TEXAS 20558