HomeMy WebLinkAbout031999 ORD - 01/21/2020 Page 1 of 2
Ordinance approving an affordable housing agreement with FishPond Living
at Corpus Christi, LP located at 1002 Sixth Street in an amount not to exceed
$500,000.00 to provide affordable housing to residents of the existing Sea
Gulf Villa in downtown Corpus Christi with a development deadline of two-
years following the effective date of the agreement(approximately December
2021); appropriating $500,000.00 from the unreserved fund balance in the
Business/Job Development Fund; and amending the budget.
Be it ordained by the City Council of the City of Corpus Christi, Texas:
SECTION 1. That an affordable housing agreement with FishPond Living at Corpus
Christi, LP located at 1002 Sixth Street in an amount not to exceed $500,000 to provide
affordable housing to residents of the existing Sea Gulf Villa in downtown Corpus Christi
with a development deadline of two-years following the effective date of the agreement
(approximately December 2021), is approved.
SECTION 2. That $500,000.00 from the unreserved fund balance in the Fund No. 1140
Business/Job Development Fund is appropriated for the affordable housing agreement
with FishPond Living at Corpus Christi, LP.
SECTION 3. That Ordinance No. 031870, which adopted the FY 2019-2020 Operating
and Capital Budget, is amended to increase proposed expenditures in the No. 1140
Business/Job Development Fund by $500,000.00 for the affordable housing agreement
with FishPond Living at Corpus Christi, LP.
This ordinance takes effect upon City Council approval on this the l"'1 day of
-lay\ Vti , 2020.
ATTEST: THE CITY OF CORPUS CHRISTI
Re ecca Huerta J•-- cComb
City Secretary . �r
031995
SCANNED
Page 2 of 2
That the foregoing ordinance was read for the first time and passed to its second
reading on this the /1.7 " day of Ta,,,(../al , 2020, by the following vote:
Joe McComb Al( Michael Hunter /K
Roland Barrera Att ' - Ben Molina
Rudy Garza Ale Everett Roy 147&
Paulette M. Guajardo Greg Smith /47
Gil Hernandez 147-(.17_,
That the foregoing ordinance was read for the second time and passed finally on this
the,94- day of �Ta�e.iaM 2020, by the following vote:
Joe McComb /1 f e_ Michael Hunter 4Q,.._
Roland Barrera4-77sZ Ben Molina /417..g_
Rudy Garza Ali Everett Roy 147 SL-__
Paulette M. Guajardo 4'zl Greg Smith AliZ__
Gil Hernandez
1,4, 7
PASSED AND APPROVED on this the l' fi� day of jot ✓ct 1 , 2020.
ATTEST:
I , i
-ei ecca Huerta .,• Mc omb
City Secretary • yor
0 31999
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: January 1,4, 2020 Legistar Number: 19-1808
Agenda Item:
Ordinance approving an affordable housing agreement with FishPond Living at Corpus Christi, LP located
at 1002 Sixth Street in an amount not to exceed $500,000.00 to provide affordable housing to residents
of the existing Sea Gulf Villa in downtown Corpus Christi with a development deadline of two-years
following the effective date of the agreement (approximately December 2021); appropriating $500,000.00
from the unreserved fund balance in the Business/Job Development Fund; and amending the budget.
Amount Required: (Amount to be Certified) $ 500,000.00
Fund Name Accounting Unit Account No. Activity No. Amount
Business and Job 1140 260800 $500,000.00
Development
Total $500,000.00
LI Certification Not Required
CUAAAA-
Director of Financial Services
Date: i I ( ( 9.o�(�