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HomeMy WebLinkAbout027457 RES - 10/23/2007Page 1 of 2 RESOLUTION ADOPTING THE CORPUS CHRISTI COMMERCIAL REVITALIZATION LOCAL STRATEGIC PLAN BE 1T 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 F ene gyral Community Commercial Revitalization Deduction Allocation Program. Theplan is attached to this resolution as Attachment 1. This plan replaces the plan adopted on December 19, 2006, by Resolution 027092. 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. Armando Chapa City Secretary APPROVED: October 17, 2007. By: G_ry W Sm ith Assistant City Attorney for City Attorney CIT CORPUS CHRISTI enry Gae Mayor C27457 Renewal Community Strategic Plan 071023 H:ILEG-DIi l h red\ ary lagenda\2007\1 O-23\071023 Renewal ral om unity Local Strategic Plan.do Page 2 of 2 Corpus Ch inti, Texas � ed.,&A2007 3 of _ The above resolution was passed by the following vote: Henry Garrett Melody Cooper Larry Elizondo, Sr. Mike Hummel! Bill Kelly Priscilla G. Leal John E. Marez Nelda Martinez Michael McCutchon _41_ r-� * �1� t1 1 4 ra- 7 Renewal Community Strategic Plan 071023 H:ILE -DIR\Shared\ ary \a enda120O7110- \071023 Renewal Community Local Strategic Plan.do cry of -- chns1401...".••' City of Corpus Christi 2007-2008 Renewal al C mr unity Commercial Revitalization Local Strategic Plan The plan below establishes procedural steps as required by Federal, State and Local governments, which must be implemented by the Coordinating Responsible Authority (CORA) for the Corpus Christi Renewal Community. Outreach Process Notifying the business community about the opportunities and benefits available through the Renewal Community unity program is as follows: 1. Public notice inviting applications for Commercial Revitalization Deduction (CRD) allocations will be published in the Corpus Christi Caller -Times at a minimum f once a year indicating deadlines for submitting applications. The Public Notice will provide applicants a minimum r f 30 days notice of the deadline to submit applications. 2. Two Renewal Community bus tours will be held each year -one in Spring and one in the Fall. 3. Small Business Development seminars will be held in the Spring and Fall of each year. 4. Application information will be available by contacting the CoRA at (361) 826- 3850 r via the City of Corpus Christi's web site at: httplAvww.cctexas.comieconomicdevelopmenti. Deadline for Application Project applications will be accepted through June 30th of each year. At that time all application will be reviewed and selected based upon criteria established by the U.S. Department of Housing and Urban Development (HUD) and the Governor's Office as well as local priorities established in this plan. If CRD Tax Credits are still available, another public notice will be issued no later than the first week in July of the same year. Selection Criteria The CoRA will review applications which must meet the following requirements: 1. 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 substantially rehabilitated by the taxpayer and is placed in service by the taxpayer after the rehabilitation in the Renewal Community. Attrhfnt 1 2. The expenditures of the project meet the statutory requirement of the allowable Commercial Revitalization expenditures. 3. Request of allocation is less than $10 million. 4. The applicant is in good standing with the Texas Comptroller of Public Accounts and the Texas Workforce C mmissi n has confirmed that the applicant is current on unemployment insurance tax. 5. The project will add value to the existing tax base. 6. The project proposes to directly or indirectly create or retain a minimum of ten (10) permanent full-time jobs in the Renewal Community. unity. 7. The project adds residential and commercial square footage in the Renewal Community. 8. The applicant has completed the project or has financing in place to complete the project. 9. The project contributes to the City's Area Development Plans. 10. The Applicant demonstrates active involvement of residents and nonprofit groups within the renewal community. 11. The project is located in a Texas Enterprise Zone, Reinvestment Zone, Weed and Seed area, CDG eligible area, or HUB Zone. 12. Project is eliminating slum or blight in a particular area within the Renewal al Community. 13. Project is appropriately zoned. 14. Project will be completed by the end of the second calendar year in which the allocation is made. 15. Project is a public/private partnership with the City and/or is a project of the Corpus Christi Regional Economic Development Corporation (CCREDC). 16. Project provides housing in Census Tract 3. 17. Applicant commits to providing information on actual jobs created and retained as a result of the proposed project. Pet Selection Priorities Projects will be selected for recrnrnendatin to the City Council based upon the following priorities: 1. The project provides residential units in the Downtown area. 2. The project redevelops a vacant building or lot in the Downtown area. 3. The project provides for significant job creation at wages exceeding $40,000 per year, per job. 4. The project is located in the Industrial District with significant job creation at wages exceeding $50,000 per year, per job. 5. Projects may be given consideration if the capital investment exceeds $10 million. The chart below provides a point value for scoring of projects: Criteria Point Value Residential in Downtown Area 30 Redevelopment in Downtown Area 25 _. Job Creation at $40,000 + per year, per job 15 Industrial District Job Creation at $50,000 + per year, per job 20 _ Project Investment exceeds $10 million -__ 10 Recommendation will be submitted to the City Manager and City Council for approval. Submittal to the Governor's office 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: 1. 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 the City Council is complete and meets the requirements of the Commercial Revitalization Deduction (CRD) Program. 2. 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. 3. All CRD approved projects must be submitted to the Governor's Office by November 1 of each year. 4. The Commercial Revitalization Local Strategic Plan must be submitted to the Governor's Office in December of each year. Annual Report I e uiremente The Renewal al Comr unity CoRA will submit an annual report to the Community Renewal Agency (CRA) describing the status of each active project in its jurisdiction receiving CRD allocations. The annual reports will be due March 1 of each calendar year beginning in 2003 and ending in 2010 and reporting on activity ending December 31 of the previous year. The report will include the following information: 1. Status of all projects currently in process in addition to those already in service (including success stories, press releases, and any other news coverage). 2. A brief narrative describing the impact of the CRD on the RC. 3. Number ber of direct and indirect jobs both new and retained and approximate average salary. 4. Copy of the Renewal Community's annual report to HUD. City of Co M = Chnstz lr�rtira City of Corpus Christi 2007-2008 Renewal Community Commercial Revitalization Local Strategic Plan The plan below establishes procedural steps as required by Federal, State and Local governments, which must be implemented by the Coordinating Responsible Authority (CoRA) for the Corpus Christi Renewal Community. Outreach Process Notifying the business community about the opportunities and benefits available through the Renewal Community program is as follows: 1. Public notice inviting applications for Commercial Revitalization Deduction (CRD) allocations will be published in the Corpus Christi Caller -Times at a minimum of once a year indicating deadlines for submitting applications. The Public Notice will provide applicants a minimum of 30 days notice of the deadline to submit applications. 2. Two Renewal Community bus tours will be held each year -one in Spring and one in the Fall. 3. Small Business Development seminars will be held in the Spring and Fall of each year. 4. Application information will be available by contacting the CoRA at (361) 826- 3850 or via the City of Corpus Christi's web site at: http://www.cctexas.com/economicdevelopment/ . Deadline for Application Project applications will be accepted through June 30th of each year. At that time all application will be reviewed and selected based upon criteria established by the U.S. Department of Housing and Urban Development (HUD) and the Governor's Office as well as local priorities established in this plan. If CRD Tax Credits are still available, another public notice will be issued no later than the first week in July of the same year. Selection Criteria The CoRA will review applications which must meet the following requirements: 1. 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 substantially rehabilitated by the taxpayer and is placed in service by the taxpayer after the rehabilitation in the Renewal Community. Attarhmant 1 2. The expenditures of the project meet the statutory requirement of the allowable Commercial Revitalization expenditures. 3. Request of allocation is less than $10 million. 4. 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. 5. The project will add value to the existing tax base. 6. The project proposes to directly or indirectly create or retain a minimum of ten (10) permanent full-time jobs in the Renewal Community. 7. The project adds residential and commercial square footage in the Renewal Community. 8. The applicant has completed the project or has financing in place to complete the project. 9. The project contributes to the City's Area Development Plans. 10. The Applicant demonstrates active involvement of residents and nonprofit groups within the renewal community. 11. The project is located in a Texas Enterprise Zone, Reinvestment Zone, Weed and Seed area, CDBG eligible area, or HUB Zone. 12. Project is eliminating slum or blight in a particular area within the Renewal Community. 13. Project is appropriately zoned. 14. Project will be completed by the end of the second calendar year in which the allocation is made. 15. Project is a public/private partnership with the City and/or is a project of the Corpus Christi Regional Economic Development Corporation (CCREDC). 16. Project provides housing in Census Tract 3. 17. Applicant commits to providing information on actual jobs created and retained as a result of the proposed project. Proiect Selection Priorities Projects will be selected for recommendation to the City Council based upon the following priorities: 1. The project provides residential units in the Downtown area. 2. The project redevelops a vacant building or lot in the Downtown area. 3. The project provides for significant job creation at wages exceeding $40,000 per year, per job. 4. The project is located in the Industrial District with significant job creation at wages exceeding $50,000 per year, per job. 5. Projects may be given consideration if the capital investment exceeds $10 million. The chart below provides a point value for scoring of projects: Criteria Point Value Residential in Downtown Area 30 Redevelopment in Downtown Area 25 Job Creation at $40,000 + per year, per job 15 Industrial District Job Creation at $50,000 + per year, per job 20 Project Investment exceeds $10 million 10 Recommendation will be submitted to the City Manager and City Council for approval. Submittal to the Governor's Office 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: 1. 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 the City Council is complete and meets the requirements of the Commercial Revitalization Deduction (CRD) Program. 2. 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. 3. All CRD approved projects must be submitted to the Governor's Office by November 1 of each year. • 4. The Commercial Revitalization Local Strategic Plan must be submitted to the Governor's Office in December of each year. Annual Report Requirements The Renewal Community CoRA will submit an annual report to the Community Renewal Agency (CRA) describing the status of each active project in its jurisdiction receiving CRD allocations. The annual reports will be due March 1 of each calendar year beginning in 2003 and ending in 2010 and reporting on activity ending December 31 of the previous year. The report will include the following information: 1. Status of all projects currently in process in addition to those already in service (including success stories, press releases, and any other news coverage). 2. A brief narrative describing the impact of the CRD on the RC. 3. Number of direct and indirect jobs both new and retained and approximate average salary. 4. Copy of the Renewal Community's annual report to HUD.