HomeMy WebLinkAboutC2005-340 - 7/19/2005 - Approved( CBJIN.'
BUSINESS INCENT1VI~8 PROJECT AGREEMENT
This Business Incentives Project Agreement (" Project Agra) Is ~ Imo
be~/een I~ Corpus Chrt~ Business end Jot) Development Corpor~n ("C, orpo~")
~nd the City of Corpus Christi, Texss ("City").
WHEREA~, Ifm Texas Legislature in Sectk)n 4A of Artlcie 5190.6, Vernon's Texas
Revved CMl Statutes (Devek3pment Corporation Act of 1~79) emmwemd kx=al
communities w~h the ability to adopt an Ol:Klonal local sales and use tax as a means of
improving the economic healbh and prosl3edty of their
WHEREAB, on November 5, 2002, resk]m,~ oft]Y) City of Corpue Chl'l~ ('City')
passed Proposltk~ 2, New and Expanded Buslfle~ Entarpdee., which authorized the
adoption of a sales and uae tax for the pmrnotion and develoflm~t of new and
for 15 years,
WHEREAS, the 1/8 cent sak~ tax authorized by ~ of Pmpoardon 2 was
subseque~y enacted by the City Council and filed with the S',~ Comflln31er of Texas.
effecb've April 1, 2003, to be edrnlnistered by the Corporation's Board of Dlmctom;
WHEREA~, the Corporation exists for the purposes of enc~Jraglng and assisting
entities In the creation of Jobs for th~ c~tizerta of CoflxJ8 ChriS, Texas;
WHEREAS, the Board of Directors of lhe Corlx),a0on ('Board'), on May 5, 2003,
adopt~:l the Corporation's Guidelines and Crltmta for Grar~ng Business Inc~nt~:
WHF. REA~ Section 21 of the Texas Development Corporation Act of 1979, Art. 5190.6,
Vemon'$ Texas Revtsed Clvtl Statutes, mulrea the City Council to approve all
WHEREAS, the City Council apflmved the Corporation's Guidelines and Crlterta for
Granting Business Incentives on May 13, 2003;
WHEREA~ McTurblne, Inc. has submitted a proposal to the Corporation to request
business Incentives of apflmxlrr~E~ly $500,000 to be used to assist McTurt)lne, Inc. In
its construction of new 40,000 square ff. or la~]er factllty and engine faci~¥, to be buttt
on property owned by McTurblrm, Inc. at 401 Junior Beck Drive In Corpua Chrletl,
Nueces County, Texas, ('Factlffy"), for ~[al McTurbYm, Inc. capital Inveslment of Three
miion one hundred dollars $3,100,000) to allow McTurblrm, Inc. to create and employ
additJo~al 100 new full--IJme employment posrdons at Fac~/;,
WHEREA8, the Board has determined that It is in ~ best IriE~eets of lite citizens of
Corpus Christi, Texas that business Incentives be offered to McTurblne, Inc.
WI-IE]~_A,S, the Cm3x~..Uon ar,:l McTurblne, Inc. have executed an agn~ment k) grant
business Incentives to McTurblne, Inc.for the creation of Jobs (Bum Incerfltv~a
Agreement).
2OO5-34O
07/19/t~
Re~026353
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1. Project ~nt to Implen~nt Bu~in~ IncLdtVil .A, iF,,~:,~s:~L 'This Project
Agreement between ~ City and the Corporation Is exec, ulz~d to Im~ ~
Agreement to Grant Buslne~ I~ to IVlcTurblne, Inc. for the ~ cd' Jobs
between the C.,mporatJon and IVlcTud)h'm, Inc.
a. 'The City Manager, or the City Manager's designee, ~ ad~ funding
on behalf of the Corporation.
b. The City Manager, or ttm City Manager'8 designee, ~tall perform cow~buct
admlnlub.,Uon responsibilities outlined In the Buaineea Incenflvo~ Agmen~rlt for
4. Al)propdaao~ od'FundL Any futum paymerm~ by the C~ ere aetect to
ap~n of fund8 by City's Council.
6. ~orMoJIl~aao,~-_. NoamaxtmormodlflcaUorltol~iP~J~:t
Agmnt may be mede, nor any provision waived, unless In writing atgned bya
person duly authorized to Ngn agreemei~ c)~ behalf of each party.
7, Sevemblllty.
a. If for any mm, any ~ection, paragraph, ~ubdMek)n, cia[me, IXOv~on,
phrale or word of Ibis Project Agreement or the application of Itib Project
Agreement to any pemon or circumstm 18, to any extent, held Illegal, Invalid, or
unenforceable under present or Mum law or by a final Judgment of e coat of
as to which It is held Illegal, Invalid, or u~b~, w~l not be affected by the
or w~rd of this Project Agreement be given full force and effect for il~ purpose.
b. To the extent that a~y clause or pmviek~ b held Illegal, Invalid, or
unenforceable under IXeae~ or futura law eifectlve during the term of this Pn:)Ject
Aomemer~ then the mffmfnder of thle Project AOraernG~ la not affected by the
Law, and in Heu of eny Illegal, Invalid, or unef~omeab~ ciauee or provision, e
ctause or provision, es similar In terms to Ute igegal, Invalid. or unerdomeable
McTa"dnL kc. Pft~ect AgrllnW~__,J~c__
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c[au~e or provision as may be po~lble and be legal, valid, ~ enforceable, wll
be added to this Protect Agreement automatically.
8. Capllona. The captions in this Project Agreement am for convenience only and am
not a part of t~ls Project Agreement. The carXior~ do not In any way Ilrnlt or amplify the
terms and prov~ons o1' this Project Agreement.
Th~ C~ of Com~ Chr~e
Job Ce~,lc~r,,~ebd C~, *]~:,
Attest
c~ secretary
Approved as to Legal Form this ~ day of July, 2005.
Lisa Agullar (../
Aea~tam c~~
for city Attorney
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