HomeMy WebLinkAbout027105 RES - 12/19/2006A RESOLUTION
APPROVING THE CITY OF CORPUS CHRISTI CHAPTER 380
ECONOMIC DEVELOPMENT PROGRAM POLICIES AND
PROCEDURES
WHEREAS, Texas Local Government Code allows the City Council to establish and
provide for one or more programs, including programs for making loans and grants of
public money and providing personnel and services of the municipality, to promote state
or local economic development and to stimulate business and commercial activity in the
municipality;
WHEREAS, the Chapter 380 Economic Development Program is intended to develop
and expand the local economy by promoting and encouraging development and
redevelopment projects that enhance the City's economic base and that may also
diversify and expand job opportunities: and
WHEREAS, City Council finds that it is in the public interest and welfare to adopt a
Chapter 380 Economic Development Program Policies and Procedures;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS, THAT:
Section 1. The City Council hereby adopts and approves the City of Corpus Christi
Chapter 380 Economic Development Program Policies and Procedures.
Section 2. A substantial copy of the Chapter 380 Economic Development Program
Policies and Procedures is attached hereto and incorporated herein for all intents and
purposes
ATTEST:
Armando Chapa
City Secretary
CITY OF CORPUS CHRISTI
Herfry Garrett
Mayor. City of Corpus Christi
Approved as to form: December 13. 2006.
G�4y VI+(JSmith
Assistant City Attorney
For the City Attorney
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71115
Corpu Christi, Texas
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The above resolution
Henry Garrett
Brent Chesney
Melody Cooper
Jerry Garcia
Bill Kelly
Rex A. Kinnison
John E Marez
Jesse Noyola
Mark Scott
2006
was passed by the following vote:
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CHAPTER 380 ECONOMIC DEVELOPMENT PROGRAM
POLICIES AND PROCEDURES
General Statement of Purpose and Policy
The City of Corpus Christi is committed to the promotion of high quality development in
all parts of the City and to an ongoing improvement in the quality of life for its citizens.
The City of Corpus Christi has previously developed economic development programs
and incentives designed to encourage high quality business, commercial, and
manufacturing concerns to locate, remain, and expand in the City of Corpus Christi.
Now the City of Corpus Christi seeks to enhance its economic development efforts to
attract and retain high quality development and jobs by establishing these Chapter 380
Economic Development Program Policies and Procedures.
These Policies and Procedures are established in an effort to sustain, develop and
expand the local economy by promoting and encouraging development and
redevelopment projects that enhance the City's economic base, and diversify, expand,
and retain job opportunities or by promoting and encouraging projects that create
additional revenue for the City. The ultimate goal and public purpose of programs
established hereunder is to protect and enhance the City's fiscal ability to provide high
quality municipal services for the safety, comfort and enjoyment of Corpus Christi
residents
In furtherance of these objectives, the City of Corpus Christi will, on an individual merit
basis, give consideration to providing economic incentives to an applicant in accordance
with these Policies and Procedures as authorized by Chapter 380 of the Texas Local
Government Code as amended from time to time.
Nothing in this document is intended to imply or suggest that the City of Corpus Christi
is under any obligation to provide economic incentives to any applicant. Each applicant
will be evaluated on the basis of its individual merits. The decision to approve or deny
economic incentives shall be at the discretion of the City Council. Each applicant
granted economic incentives as a Chapter 380 Economic Development Program (also
referred to as Program) under these Policies and Procedures must enter into an
agreement with the City of Corpus Christi containing all terms required by these Policies
and Procedures and by state law to protect the public interest of receiving a public
benefit in exchange for public funds, assets and services invested to stimulate
economic development to Corpus Christi.
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11.
Program Requirements
A To be considered for incentives as a Chapter 380 Economic Development
Program under these Policies and Procedures, a project must at least meet the
following minimum requirements:
Either the project
a will result in a minimum increased taxable value for the City of
$25,000,000 in real and business personal property (excluding
inventory and supplies), or
will result in the retention of at least 500 full -time permanent jobs
and each job shall pay at least a "living wage." For the purposes
of this Program "living wage" shall mean that annual amount
determined by the U. S. Department of Health and Human
Services for the Corpus Christi area as being at the poverty level
for a family of three, divided by 2,080 hours per year; and
In addition, the project
a. will make a unique or unequaled contribution to development or
redevelopment efforts in the City of Corpus Christi, due to its
magnitude, significance to the community or aesthetic quality; or
will enhance the City's fiscal ability to provide high quality
municipal services for the safety, comfort and enjoyment of Corpus
Christi residents.
B A project shall not be eligible for incentives under these Policies and Procedures
if a building permit has been issued for the project prior to making application in
accordance with these Policies and Procedures, except a project providing job
retention as set forth in 1 b. above.
G Incentives provided in accordance with these Policies and Procedures will be
provided only to the extent that the revenue realized by the City and attributable
to a project exceeds a minimum amount established by the Agreement. The
public benefit or amount of revenue realized by the City and attributable to the
project must be ,commensurate with value of any incentives granted under this
Program
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III.
Additional Considerations
Additional factors to be considered by the City Council in determining whether to
authorize an Agreement for incentives as a Chapter 380 Economic Development
Program (Program) are
the number and types of jobs to be created or retained;
C the financial capacity of the applicant to undertake and complete the proposed
program,
other incentive programs for which the applicant has applied or is qualified;
D the market conditions and growth potential for the business activity, and
F. any other factors the City Council finds helpful and relevant to accomplishing the
City's economic development objectives.
IV.
Application Process
An application for consideration as a Program shall be made on forms supplied
by the City. An applicant may be required to provide additional information to
show compliance with minimum Program requirements. If City staff determines
minimum Program requirements have been met, City staff shall prepare and
present a proposed Agreement with the applicant to the City Council.
g The City Council may consider the proposed Agreement and may take action on
the proposal as it deems appropriate. Nothing in these Policies and Procedures
and nothing in the application form and process shall create any property,
contract, or other legal right in any person to have the City Council consider or
grant incentives
V.
Agreement Terms
An Agreement established for a Program must include:
A a timetable and list of the kind of improvements, development, or activities that
the Program will include. and conditions to assure that the Program meets or
exceeds the City's requirements pertaining to property values, revenues, and for
job retention, which in no event shall be less than the minimum Program
requirements established in Paragraph II above;
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B a complete description of the location of the proposed Program or projects
included in the Program;
C a timetable and list of the kind and amount of property values, revenues, incomes
or other public benefits that the proposed Program will provide;
D a provision establishing the duration the Agreement;
E a provision identifying the method for calculating and source of funding for any
grant, loan or other incentives provided in the Agreement;
F a provision providing a tangible means for measuring whether the applicant and
other responsible parties have met their obligations under the Agreement;
G a provision providing for access to and authorizing inspection of the property and
applicant's pertinent business records by municipal employees in order to
determine compliance with the Agreement:
H a provision for cancellation of the Agreement and /or nonpayment of incentives if
the Program is determined to not be in compliance with the Agreement;
a provision for recapturing City funds granted or loaned, or for recapturing the
value of other public assets granted or loaned, if the applicant does not meet its
duties and obligations under the terms of the Agreement;
a provision that allows assignment of the Agreement with prior written approval of
the City Council provided that
all rights, duties, obligations and liabilities under the Agreement are
assigned from the assignor to the assignee; and
the assignment is made subject and subordinate to the Agreement and
the Chapter 380 Economic Development Program Policies and
Procedures; and
the assignment document is in a form and contains content acceptable to
the City Attorney's Office
K provisions relating to administration, delinquent taxes, reporting requirements
and indemnification;
a provision that the Agreement may be amended by the parties to the Agreement
by using the same procedure for approval as is required for entering into the
Agreement and
M such other provisions as the City Council shall deem appropriate.
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