HomeMy WebLinkAbout030194 ORD - 06/10/2014Page 1 of 2
Ordinance
Approving a Business Incentive Agreement between the Corpus
Christi Business and Job Development Corporation ( "Type A
Corporation ") and Del Mar College Foundation ( "Del Mar ") to provide
a grant of up to $1,390,071, to expand Del Mar College's Process and
Instrumentation Technology Program by purchasing a Process
Technology Base Unit and Glycol Distillation Unit with ancillary
equipment/software and a Process Control Learning System and
authorizing the City Manager, or designee, to execute a Business
Incentive Project Service Agreement with the Type A Corporation
regarding implementation and administration of the Del Mar
Business Incentive Agreement; and appropriating $1,390,071 from
the unreserved fund balance in the No. 1140 Business /Job
Development Fund for said business incentive grant from the Type A
Corporation to Del Mar and changing the FY 2013 -2014 operating
budget, adopted by Ordinance No. 029915, by increasing proposed
expenditures by $1,390,071.
Be it ordained by the City Council of the City of Corpus Christi, Texas:
SECTION 1. That a Business Incentive Agreement between the Corpus Christi
Business and Job Development Type A Corporation and Del Mar College Foundation
( "Del Mar") providing a grant of $1,390,071 to expand Del Mar College's Process and
Instrumentation Technology Program by purchasing a Process Technology Base Unit
and Glycol Distillation Unit with ancillary equipment/software and a Process Control
Learning System as approved by the Type A Corporation is further approved. The City
Manager or his designee is authorized to sign a Business Incentive Project Service
Agreement with the Type A Corporation implementing and administering the loan.
SECTION 2. That $1,390,071 from the unreserved fund balance in the No. 1140
Business /Job Development Fund is appropriated for a business incentive grant from the
Type A Corporation to Del Mar to expand their Process and Instrumentation Technology
Program.
SECTION 3. That Ordinance No. 029915, which adopted the FY 2013 -2014 Operating
Fund, is changed to increase proposed expenditures in the No. 1140 Business /Job
Development Fund by $1,390,071 for a business incentive grant from the Type A
Corporation to Del Mar to expand their Process and Instrumentation Technology
Program.
That the foregoing ordi ance was read for the first time and passed to its second
reading on this the of 2014, by the following vote:
ORDINANCE Del Mar 05 05 14
0:10194
INDEXED
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
Page 2of2
That th IL) olegoing ordinan a was read for the second time and passed finally on this
the day of , 2014, by the following vote:
Nelda Martinez
Kelley Allen
Rudy Garza
Priscilla Leal
David Loeb
PASSED AND APPROVED, this the
ATTEST:
Rebecca Huerta
City Secretary
ORDINANCE Del Mar 05 05 14
Chad Magill
Colleen McIntyre
Lillian Riojas
Mark Scott
th day of
14/
Nelda Ma
Mayor
030194
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his /her duly authorized
representative), hereby certify to the City Council and other appropriate officers that the money required
for the current fiscal year's portion of the contract, agreement, obligation or expenditure described
below is in the Treasury to the credit of the Fund specified below, from which it is to be drawn, and has
not been appropriated for any other purpose. Future payments are subject to annual appropriation by
the City Council.
City Council Action Date: June 10, 2014
Agenda Item:
Ordinance approving a Business Incentive Agreement between the Corpus Christi Business and Job
Development Corporation ( "Type A Corporation ") and Del Mar College Foundation ( "Del Mar ") to
provide a grant of up to $1,390,071, to expand Del Mar College's Process and Instrumentation
Technology Program by purchasing a Process Technology Base Unit and Glycol Distillation Unit with
ancillary equipment/software and a Process Control Learning System and authorizing the City
Manager, or designee, to execute a Business Incentive Project Service Agreement with the Type A
Corporation regarding implementation and administration of the Del Mar Business Incentive
Agreement; and appropriating $1,390,071 from the unreserved fund balance in the No. 1140
Business /Job Development Fund for said business incentive grant from the Type A Corporation to Del
Mar and changing the FY 2013 -2014 operating budget, adopted by Ordinance No. 029915, by
increasing proposed expenditures by $1,390,071.
Amount Required: $ 1,390,071.00
Fund Name
Account No.
Fund No.
Org. No.
Project No.
Amount
CCBJDC
530000
1140
15010
$1,390,071
Total
$1,390,071
Certification Not Required
Director of Financial Services
Date: MAY 2 7 2014