HomeMy WebLinkAbout027610 RES - 03/11/2008Page 1 of 2
A RESOLUTION
AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO
EXECUTE A PROJECT AGREEMENT WITH THE CORPUS
CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION
REGARDING IMPLEMENTATION AND ADMINISTRATION OF
THE AGREEMENT TO GRANT BUSINESS INCENTIVES TO
ACCION TEXAS, INC., FOR AN INTEREST BUY -DOWN
PROGRAM TO ASSIST SMALL BUSINESSES IN CORPUS
CHRISTI
WHEREAS, there is a need for a project agreement between the City of Corpus
Christi and the Corpus Christi Business and Job Development Corporation for
the implementation and administration of the business incentive agreement with
ACCION Texas, Inc., (ACCION) for an interest buy -down program to assist small
businesses in Corpus Christi.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CORPUS CHRISTI, TEXAS:
SECTION 1. That the City Manager or his designee is authorized to execute the
project agreement between the City of Corpus Christi and the Corpus Christi
Business and Job Development Corporation for the implementation and
administration of the business incentive agreement with ACCION for an interest
buy -down program to assist small businesses in Corpus Christi, which is
attached hereto.
ATTEST:
Armando Chapa
City Secretary
APPROVED as to form: February 29, 2008
1,617k4ILJ
G'ry VI`f' Smith
Assistant City Attorney
For the City Attorney
CITY O" CORPUS CHRISTI
Henry G. rett
Mayor
027610
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Corpus Christi, Texas
of 1/1/10z..elk
, 2008
The above resolution was passed by the following vote:
Henry Garrett
Melody Cooper
Larry Elizondo, Sr. 4»utf
Mike Hummell
Bill Kelly
Priscilla G. Leal
John E. Marez Aic
rL
Nelda Martinez
Michael McCutchon
027610
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BUSINESS INCENTIVES PROJECT AGREEMENT
This Business Incentives Project Agreement (" Project Agreement") is entered into
between the Corpus Christi Business and Job Development Corporation ("Corporation")
and the City of Corpus Christi, Texas ("City").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979) empowered local
communities with the ability to adopt an optional local sales and use tax as a means of
improving the economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City of Corpus Christi ("City")
passed Proposition 2, New and Expanded Business Enterprises, which authorized the
adoption of a sales and use tax for the promotion and development of new and
expanded business enterprises at the rate of one-eighth of one percent to be imposed
for 15 years,
WHEREAS, the 1/8 cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corporation's Board of Directors;
WHEREAS, the Corporation exists for the purposes of encouraging and assisting
entities in the creation of jobs for the citizens of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentives;
WHEREAS, Section 21 of the Texas Development Corporation Act of 1979, Art. 5190.6,
Vernon's Texas Revised Civil Statutes, requires the City Council to approve all
programs and expenditures of the Corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentives on September 18, 2007;
WHEREAS, ACCI6N Texas, Inc., (ACCI6N) has submitted a proposal to the
Corporation to request business incentives of approximately $50,000 to be used to
assist ACCI6N in its operation of an interest buy -down program to assist small
businesses in the City of Corpus Christi;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas that business incentives be offered to ACCION;
WHEREAS, the Corporation and ACCI6N have executed an agreement to grant
business incentives to ACCION for the interest buy -down program to assist small
business employers (Business Incentives Agreement).
ACCION Project Agreement 4A-City.doc
H:0.EG-DIRSSharedlGaryS',agenda1200813-11 ACCION Project Agreement 4A-City.doc
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In consideration of the covenants, promises, and conditions stated in this Project
Agreement, the Corporation and the City agree as follows:
1. Project Agreement to Implement Business Incentives Agreement. This Project
Agreement between the City and the Corporation is executed to implement the
Agreement to Grant Business Incentives to ACCION for an interest buy -down program
to assist small businesses s between the Corporation and ACCION.
2. Term. The term of this Project Agreement runs concurrently with the term of the
Business Incentives Agreement.
3. Services to be Provided by City.
a. The City Manager, or the City Manager's designee, shall administer funding
on behalf of the Corporation.
b. The City Manager, or the City Manager's designee, shall perform contract
administration responsibilities outlined in the Business Incentives Agreement for
the Corporation.
4. Appropriation of Funds. Any future payments by the City are subject to
appropriation of funds by City's Council.
5. Effective Date. The effective date of this Project Agreement is the latest date that
either party executes this Agreement.
6. Amendments or Modifications. No amendments or modifications to this Project
Agreement may be made, nor any provision waived, unless in writing signed by a
person duly authorized to sign agreements on behalf of each party.
7. Severability.
a. If for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Agreement or the application of this Project
Agreement to any person or circumstance is, to any extent, held illegal, invalid, or
unenforceable under present or future law or by a final judgment of a court of
competent jurisdiction, then the remainder of this Project Agreement, or the
application of the term or provision to persons or circumstances other than those
as to which it is held illegal, invalid, or unenforceable, will not be affected by the
law or judgment, for it is the definite intent of the parties to this Project
Agreement that every section, paragraph, subdivision, clause, provision, phrase,
or word of this Project Agreement be given full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this Project
Agreement, then the remainder of this Project Agreement is not affected by the
law, and in lieu of any illegal, invalid, or unenforceable clause or provision, a
clause or provision, as similar in terms to the illegal, invalid, or unenforceable
ACCION Project Agreement 4A-City.doc
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clause or provision as may be possible and be legal, valid, and enforceable, will
be added to this Project Agreement automatically.
8. Captions. The captions in this Project Agreement are for convenience only and are
not a part of this Project Agreement. The captions do not in any way limit or amplify the
terms and provisions of this Project Agreement.
The City of Corpus Christi Corpus Christi Business &
Job Development Corporation
George K. Noe
City Manager
Date:
Attest
Date:
Armando Chapa
City Secretary
Approved as to Legal Form this day of February, 2008.
Gary W. Smith
Assistant City Attorney
for City Attorney.
ACCION Project Agreement 4A-City.doc
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