HomeMy WebLinkAbout029284 RES - 11/15/2011Page 1 of 2
Resolution approving the Business Incentive Agreement between the
Corpus Christi Business and Job Development Corporation ("Type A
Board") and Lakeside Texas Steel Inc. ("Lakeside"), which provides a
grant of $150,000 for development of a new pipe threading facility;
and authorizing the City Manager or designee to execute the
Business Incentive Project Service Agreement with the Type A Board
for the implementation and administration of the Business Incentive
Agreement.
WHEREAS, the Type A Board has budgeted funds to assist businesses in the City of
Corpus Christi, Texas ("City");
WHEREAS, the Business Incentive Project Service Agreement between the City and
the Type A Board provides for the implementation and administration of the Business
Incentive Agreement between the Type A Board and Lakeside, which provides a grant
of $150,000 for expansion of Lakeside's existing facility; and
WHEREAS, the City Council has determined that it is in the best interest of the City and
its residents to approve the Business Incentive Project Service Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the Business Incentive Agreement, which is attached to this
Resolution as Exhibit A, between the Type A Board and Lakeside, which provides a
grant of $150,000 for development of a new pipe threading facility, is approved.
SECTION 2. That the City Manager or designee is authorized to execute the Business
Incentive Project Service Agreement, which is attached to this Resolution as Exhibit B,
with the Type A Board for the implementation and administration of the Business
Incentive Agreement.
Attest:
Armando Chapa
City Secretary
City of Corpus Christi
Joe Ad e
Mayor
Approved: 2 $ day of &7 .r?an , 2011.
L. Brian Narvae
Assistant City Attorney
For City Attorney
n29284
INDEXED
Corpus Christi, Texas
IS" -]N, of NIo °"1"10""r , 2011
The above resolution was passed by the following vote:
1b Son +
Joe Adame
Chris N. Adler
Larry Elizondo, Sr.
Kevin Kieschnick
Priscilla Leal
David Loeb
John Marez
Nelda Martinez
Mark Scott
c'd
G Se -n -�-
029284
Page 2 of 2
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly authorized
resenfative), hereby certify to the City Council and other appropriate officers that the money required for the
rrent fiscal year's portion of the contract, agreement, obligation or expenditure described below is in the
easury to the credit of the Fund specified below, from which it is to be drawn, and has not been appropriated
r any other purpose. Future payments are subject to annual appropriation by the City Council.
ouncil Action Date:
November 15, 2011
solution `approving a business incentive agreement for the creation and retention of jobs
een the Corpus Christi Business and Job Development Corpotion and Lakeside which
es a grant of up to. $150,000, for development of a new pipe leading facility on Corn Products
within the -City of Corpus Christi, in which Lakeside will invest at least $2,000,000 in building
roverrients` furniture, fixtures, and equipment and will create and maintain at least 60 new full-time
s, with an average annual salary of at least $23,000 over a five year period and authorizing the City
&lager or designee, to execute a business incentive project support agreement with the Corpus
risti Business and Job Development Corporation regarding implementation and administration of
akeside, business incentive agreement for the creation and retention of jobs
and Name
$150,000.00
Account No.
530000
Certification Not Required
Fund No.
1140
Org. No.
15010
Project No.
Amount
$150,000
$150,000
Director of Financial Services
Date: Click h;ie to enter a clotv. l o
io t24 (z6�l