HomeMy WebLinkAbout029845 RES - 05/28/2013Page 1 of 2
Resolution
Authorizing the City Manager or designee to execute a Chapter
380 Economic Development Incentive Agreement with Staples
Center Retail Venture, LP ( "Agreement ") for certain economic
development grants for redevelopment of Staples Retail
Center and Mt. Vernon Center, for the benefit of the City.
WHEREAS, the City has established a program in accordance with Article III,
Section 52 -a of the Texas Constitution and Chapter 380 of the Texas Local
Government Code ( "Chapter 380 ") under which the City has the authority to
make loans or grants of public funds for the purposes of promoting local
economic development and stimulating business and commercial activity within
the City; and
WHEREAS, City Council deems that the Agreement is in compliance with the
City's Chapter 380 Economic Development Program Policy adopted by
Resolution 028424 on November 17, 2009, and it is the best interest of the City
and citizens to approve the Agreement with Staples Center Retail Venture, LP for
certain economic development grants for redevelopment of Staples Retail Center
and Mt. Vernon Center, for the benefit of the City.
Now, therefore, be it resolved by the City Council of the City of Corpus
Christi, Texas:
SECTION 1. The City Council declares the recital paragraphs of this Resolution
to be true. The City Manager or the City Manager's designee is authorized to
execute the Agreement, which is on file at the City Secretary's office, with
Staples Center Retail Venture, LP for certain economic development grants for
redevelopment of Staples Retail Center and Mt. Vernon Center, for the benefit of
the City.
This resolution takes effect upon City Council approval on this the 9‘ day of
` atLti ,2013.
ATTEST:
Armando Chapa
City Secretary
Corpus Christi, Texas
RESOLUTION Staples Center 380 Agmt 4 -1 -13
THE CITY OF CORPUS CHRISTI
Nelda Martinez
Mayor
029945'
INDEXED
The above resolution was passed by the following vote:
Nelda Martinez,
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
RESOLUTION Staples Center 380 Agmt 4 -1 -13
029845
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