HomeMy WebLinkAbout027797 RES - 08/12/2008Page 1 of 3
A RESOLUTION
APPROVING A SMALL BUSINESS INCENTIVE AGREEMENT
BETWEEN THE CORPUS CHRISTI BUSINESS AND JOB
DEVELOPMENT CORPORATION AND ACCION TEXAS, INC. FOR AN
INTEREST BUY -DOWN PROGRAM FOR SMALL BUSINESSES AND
AUTHORIZING THE CITY MANAGER, OR DESIGNEE, TO EXECUTE A
SMALL BUSINESS INCENTIVE PROJECT SUPPORT AGREEMENT
WITH THE CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION REGARDING IMPLEMENTATION AND
ADMINISTRATION OF THE ACCION TEXAS SMALL BUSINESS
INCENTIVE AGREEMENT
WHEREAS, the Corpus Christi Business and Job Development Corporation ("4A
Board") has budgeted funds to assist small business in Corpus Christi, Texas.
WHEREAS, in 2007, the 4A Board requested proposals and determined that the
proposal from ACCIoN Texas Inc. (ACCI6N Texas), best provided assistance for small
business support;
WHEREAS, on August 28, 2007, the City Council approved a agreement between the
4A Board and ACCION TEXAS to provide an interest buy -down program for small
business support;
WHEREAS, under the terms of the original agreement between the 4A Board and
ACCI6N TEXAS, the agreement could be extended for up to two additional one year
terms, contingent upon annual appropriation of funds;
WHEREAS, on March 11, 2008, the City Council approved an additional agreement
between the 4A Board and ACCI6N TEXAS to provide an interest buy -down program
for small business support that expanded upon and modified some of the terms in the
prior agreement;
WHEREAS, the latest agreement did not provide for the extension of the newest
agreement;
WHEREAS, ACCI6N Texas has requested an extension of the August 2007
agreement, with the incorporation of terms from the agreement March 2008 agreement;
WHEREAS, the 4A Board adopted a resolution that appropriated funds for and
authorized a one year extension of the agreement on June 16, 2008;
WHEREAS, City Council deems that it is the best interest of the City and citizens to
approve the first one year extension of that agreement; and
WHEREAS, there is a need for a small business incentive project support agreement
between the City of Corpus Christi ("City") and the 4A Board for the implementation and
027797
Res-AgmtSmallBus-4ABd-ACCIONapproval--07102008_2 em
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administration of the business incentive agreement with ACCI6N TEXAS 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 small business incentive agreement for an interest buy -down
program for small businesses between the 4A Board and ACCIbN TEXAS, which is
attached to this resolution as Exhibit A, is approved.
SECTION 2. That the City Manager, or designee, is authorized to execute a project
support agreement between the City and 4A Board for the implementation and
administration of the small business incentive agreement with ACCI6N TEXAS for an
interest buy -down program to assist small businesses in Corpus Christi, which is
attached to this resolution as Exhibit B.
ATTEST:
Armando Chapa
City Secretary
J21,'›or�
APPROVED as to form: ,
4,A✓ R. Jay Reinfg
UV First Assistant City Attorney
For the City Attorney
CITY OF CORPUS CHRISTI
0 277 97
Res-AgmtSmallBus-4ABd-ACCIONapproval--07102008_2 em
Corpus Christi, Texas
iatl of )41,cy.rk-
2008
The above resolution was passed by the following vote:
Henry Garrett
Melody Cooper
Larry Elizondo, Sr.
Mike Hummel)
Bill Kelly Ab5tstf
Priscilla G. LealAlf
John E. Marez 10511,1
Nelda Martinez
Michael McCutchon
027797
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CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Chad er-rticle IV.;' Sections 7 & 8)
I, the Director of Finance of tl& C T Corpus' Christi, Texas (or his/her duly authorized
representative), hereby certify' to the,Cijy Council and other appropriate officer that the
money required for the contrat,gteement, obligation or expenditure described below is in
the Treasury to the credit of #lie Fund specified below, from which it is to be drawn, and
has not been appropriated for any other purpose.
City Council Action Date: August 12, 2008
Agenda Item:
Resolution approving a small business incentive agreement between the Corpus Christi
Business and Job Development Corporation and ACCION Texas, Inc. for an interest buy -
down program for small businesses and authorizing the City Manager, or designee, to
execute a small business incentive project support agreement with the Corpus Christi
Business and Job Development Corporation regarding implementation and administration
of the ACCION Texas small business incentive agreement.
Amount Required: $350,000
Fund Name
Fund No.
Org. No.
Account
No.
Project No.
Amount
Goaam,c bevy (yo,.l.pA
j J LI ()
f 5`40
S 30001
350,000)
Total
3;0/000
Certification Not Required
Director of Financial Services
Date: ,W6 /0(r