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Home My WebLink About026588 RES - 12/20/2005 RESOLUTION ADOPTING THE CORPUS CHRISTI COMMERCIAL REVITALIZATION LOCAL STRATEGIC PLAN BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Council, as the governing body of the City of Corpus Christi, adopts the City of Corpus Christi Commercial Revitalization Local Strategic Plan for the City's Renewal Community Commercial Revitalization Deduction Allocation Program. The plan is attached to this resolution as Attachment 1. This plan replaces the plan adopted on November 16, 2004 by Resolution 026040. SECTION 2. The City Manager is directed to forward a copy of this resolution and the City of Corpus Christi Commercial Revitalization Local Strategic Plan to the Executive Director, Texas Department of Economic Development. ATTEST: ;L. . Armando Chapa City Secretary APPROVED: December 15,2005. By: ~Qndr a . Smith Assistant City Attorney for City Attorney Renewal Community Strategic Plan 051220 -, 'J ~ ... 8 8 1'....U0 Corpus Christi, Texas ,:->C11~ of tJt Lt h~'-t? ~ ,2005 The above resolution was passed by the following vote: Henry Garrett (t~ Cll~ D~ (~ ~L<Ll (l:Cf- c U!tt 'J: J/' L- l..-L }L .... (i " QJ;'-Jf'/~ CG,}Z ,/ /'j'L ,,-./1_.1..,) / ! I " Brent Chesney John E. Marez Melody Cooper Jerry Garcia Bill Kelly Rex A. Kinnison Jesse Noyola Mark Scott Renewal Community Strategic Plan 051220 (' ')cr.: c8 1.) .. . ) ,) () Attachment 1 ~ -- =" == City of Corpus Christi 2004-2005 Renewal Community ~ (:itvoJ COfpus ( 'hrist: . Commercial Revitalization Local Strategic Plan .__._---~--,-~~..~."- 1) The Coordinating Responsible Authority (CoRA) for the Corpus Christi Renewal Community will submit contact information to the Office of the Governor. 2) The process for receiving applications is as follows: a) Public notice inviting applications for commercial revitalization allocations will be published in the Corpus Christi Caller-Times at a minimum of once a year indicating deadlines for submitting applications for consideration for Round 1 and Round 2. The Public Notice will provide applicants a minimum of 30 days notice of the deadlines to submit applications. b) Annual Allocation of $12 million of Commercial Revitalization Deductions to projects. (i) Round 1 to be done in January of each year ii) Round 2 (1) Commercial Revitalization Deductions unallocated during Round One will be pooled and allocated to either small or large projects. c) Application information will be available by contacting the CoRA and via the City of Corpus Christi's web site. d) Applications will be reviewed for completion and considered only if: i) The building and its structural components will be replaced in service by the taxpayer in the Renewal Community and the original use of the building will begin with the taxpayer or the building will be Renewal Community Strategic Plan 051220 substantially rehabilitated bay the tax payer and is placed in service by the taxpayer after the rehabilitation in the Renewal Community. ji) The expenditures of the project meet the statutory requirement of the allowable Commercial Revitalization expenditures. jii) Request of allocation is less than $10 million. iv) The applicant is in good standing with the Texas Comptroller of Public Accounts and the Texas Workforce Commission has confirmed that the applicant is current on unemployment insurance tax. e) The CoRA will review the completed applications meeting the requirements in Section D of this plan and make recommendations through the City Manger, as the CEO of the governing body, to the City Council based on the following criteria: i) The project will add value to the existing tax base. ii) The project proposes to directly or indirectly create or retain permanent full-time jobs in Renewal Community. iii) The project adds residential and commercial square footage in the Renewal Community. iv) The applicant has completed the project or has financing in place to complete the project. v) The project contributes to the City's Area Development Plans/ vi) The Applicant demonstrates active involvement of residents and nonprofit groups within the renewal community. vii) The project is located in a Texas Enterprise zone, Reinvestment Zone, weed and Seed Area, CDBG eligible area, or HUB Zone. viii) Project is eliminating slum or blight in a particular area within the Renewal Community. ix) Project is appropriately zoned. x) Project will be completed by the end of the second calendar year in which the allocation is made. Renewal Community Strategic Plan 051220 xi) Applicant has sufficient income to take advantage of accelerated depreciation. xii) Project is a public/private partnership between City of Corpus Christi and private business. xiii) Applicant commits to providing information on actual jobs created and retained as a result of the proposed project. f) City Council will review the recommendations made by CoRA through the City Manager and will consider approval of the applications based on the criteria set above at a City Council meeting. g) Within 10 working days following the approval of applications by the City Council, the CoRA will submit to the Office of the Governor the following documentation: i) A certification signed by the City Manager as the CEO of the governing body that the governing body has followed the procedures as indicated in this plan and to the best of his or her knowledge, each application approved by City Council is complete and meets the requirements of the commercial revitalization deduction program. ii) Copy of each application nominated by the City council to receive the CRD allocations, public notice for the application process, governing body's motion nominating the project, reasonable explanation for each project being selected or denied and identifies the criteria set forth above in the explanation. h) The RC CoRA will submit Attachment A - Annual Report to the TDED for each active project in t heir jurisdiction receiving CRD allocations. The annual reports will be due November 1 of each calendar year beginning in 2005 and ending in 2011 or until allocated projects are completed and eligible to claim the Commercial Revitalization Deduction. Renewal Community Strategic Plan 051220 CERTIFICA TION STATE OF TEXAS COUNTY OF NUECES I, George K, Noe, City Manager of the City of Corpus Christi, Texas, certify that I was authorized to execute nominations for Commercial Redevelopment Deductions by Resolution No. 026339. adopted on July 12, 2005, for the following projects: a. DRD Reel Interests, LLC to receive a binding commitment for a 2006 Commercial Revitalization Deduction allocation for $2,500,000 for a building located at 408 N. Chaparral; b. Ullah Investments, Inc. to receive allocation tor $810,000 from 2005 Commercial Revitalization Deductions for a building located at IH-37 and McKenzie Road; c. Fox SquirreL L.P. to receive allocation for $350,000 from 2005 Commercial Revitalization Deductions for a building located at 304 and 306 N. Staples Street; d. Fox SquirreL L.P. to receive allocation for $50,000 from 2005 Commercial Revitalization Deductions for a building located at 3709 Seagull Avenue e. Fox SquirreL L.P, to receive allocation for $150,000 from 2005 Commercial Revitalization Deductions for a building located at 1324 Mesquite; f Alma Garcia to receive allocation of $90,000 from 2005 Commercial Revitalization Deductions tor a building located at 1312 Leopard; g. Bill Ward to receive allocation for $125,000 from 2005 Commercial Revitalization Deductions for a building located at 301 S. Tancahua; h. Mako Communications, LLC, to receive allocation for $480,000 from 2005 Commercial Revitalization Deductions for a building located at 518 Peoples Street and that I signed the nomination applications on or about July 29, 2005, and would have dated each the same date as I signed them. George K. Noe City Manager Subscribed and sworn to before me, this the day of December, 2005. Notary Public, State of Texas My commission expires: