The URL can be used to link to this page

Home My WebLink AboutC2007-094 - 4/10/2007 - ApprovedFIRST AMENDMENT TO THE AGREEMENT TO GRANT BUSINESS INCENTIVES TO MCTURBINE, INC. FOR THE CREATION OF JOBS This first ~mendment (`First Amendment") to the Agreement to Grant Business Ince~tives to McTurbine, Inc., for the Creation of Jobs ("AgreemenY') is made by and beta~reen ~he Corpus Christi Business and Job Development Corporation ~"Cofpora#ion"). the City of Corpus Christi ("City"), and McTurbine, Inc., ("McTurbine"), a Tex~s corporation, a wholly owned subsidiary of AAI Services Corporation. WF~REA:5, the Corporation, City and McTurbine executed the Agreement for the purpose of providing business incentives to McTurbine to construct a new facility and to cre~te 100 new aobs; WF~REA~S, the term of the Agreement was stated as five years from the date of exe~ution of the contrac#; WF~RE~.$, economic factors caused excusable delays for McTurbine in the completion of its oblig~tions under the Agreement; WF~ERE/~, the parties to the Agreement desire to execute this First Amendment to revi~e the provisions of the Agreement to cure any missed deadlines, more clearly defi~e ovvnership ofi the project site, and extend the term for an additional 12 months. NO~I, TF~REFORE, the parties to the Agreement agree to amend the Agreement as follows: Sec~on 1. Section 1 1 of the Agreement is amended to read as follows: "SIECTION 1.1. Project. "McTurbine, Inc., shall construct a new 40,000 square foot or larger facility and engine test facility, to be built on property owned by KALZ, LLP, a Te~t~ps limited lial~itv partnership with a ten year lease to McTurbine Inc witl~ all improvements owned by McTurbine, Inc., at 401 Junior Beck Drive in Corpus Christi, Nueces County, Texas 78405, ("Facility"), for total McTurbine, Inc., capital investment of Three million one hundred dollars ($3,100,000). McTurbine desires the assistance of the Corporation. The Facility shall be utilized by McTurbine, Inc., for its distribution, mafntenance. repair, and fabrication of helicopter engines and cornponents.'" Sec~on 2. Section 3 1 of the Agreement is amended to read as follows: ~~~~~-ny`~ ~evelopmenfl4AlContractslAmendment-McTurbine 070328.doc 04/ 10/0? Re~02?2l ~- Page 1 of 4 b(c'f urbine _ _ ,~ _~.... - ,.,~„ ..~..._ ~., ,,,~,~. ~ ....,,4~ ~ . _ _. ..._. . ,.. _. ~ ,. ,.: ry w ,. ~.. .~. __~_.._._~ ....- .~_.... _._..,. ..~. ._ ._. ,._.~ ~ .... _._.,,,, 3 1 "McTurbine, inc., agrees to construct new 40,000 square foot or larger production facility and engine test facility, ("Facility"), to be located on property owned by KALZ, LLP, a Texas limited liability partnership, with a t~n vear lease to McTurbine, Inc., with all improvements owned by McTurbine, Inc.. at 401 Junior Beck Drive in Corpus Christi, Nueces County, Texas 78405, more fully described in Exhibit A." Sec#ion 3. The second section 3.2 of the Agreement is amended to read as follows: 3 2 "McTurbine, Inc.; agrees that construction of the facility shall be completed within ~ 24 months of execution of this agreement." Sec~ion 4. Section 4.1 of the Agreement is amended to read as follows: 4 1 "McTurbine, Inc., agrees to create and maintain at least one hundred (100) new full-time jobs, permanent jobs at its Facility within ~ee fou years from April 27. 2005, the date McTurbine, Inc., submitted its application for business incentives to Corporation. A full-time permanent job is one that provides at least 2,080 hours annually." Sec~on 5, Section 7 2"Term" of the Agreement is amended to read as follows: 72 Term. "The term of this Agreement is #i~e six years from the Effective Date." Sec~ion 6. By execution of this first Amendment, the parties agree to be bound by the ame~ded term provision. All other provisions, obligations, and conditions of the Agr~ement not changed by this First Amendment remain the same and in full force and effe~t. H \LE~-DIRWepannielGaryWmendment-McTurbine 0,'0328.doc Page 2 of 4 ,,, ..n~ ,. ~._.__ -,~ .._,.,~.,.. _ _.~ . _. ~~ ~ _ _,~. _ , . .. ~ .~ .._ _..___ _. _.T,. _ _._,.. ..,,.. _. .~. _~ __,~., EX~UT~D IN DUPLIC TE, each of which is considered an original, on this the --~-~-- day of _____-- ~ .~-____- -, 2007. CO~US ~HRISTI BU~INESS & JO~ DEV~LOPMENT CORPORATION ` `1~ -- r ~ j ,.j" /~ Sig _' ture G Ti I Pri d na~ne° ~G' ~~ ~ Date: 3 _ _ ACKNOWLEDGMENT ST~TE O~ TEXAS § § KNOW ALL BY THESE PRESENTS: C0~1VTY ~F NUECES § Thi$ instrument was acknowledged before me on ~''t., , 2007, by ~ct: ~M. ff~ f~Mah _ _as the Gh4, Y' ~lah (title) of the Co~pus Christi Business and Job Development Corporation, a Texas nonprofit cor~oratian, on behalf o# the corporation. ~ c (seai) NOTARY PUBLIC, State of exas '~"'°~ ROSALINDA S CORTEZ ~Syr •~'~ ;~~ Notsry Pubflc ~,~~ ~ STATE Of TEXAS ....,~,W,~ My Comm. Exp. 11•24•2009 H:\L~G-DIR4Jeannie\GarylAmendment-McTurbine 070328.doc Page 3 of 4 ATT~ST: %~' Armando Chapa City ~crei~ry Date: _ i a 7 CITY OF CORPUS CHRISTI Geo e K. Noe City Manager Date: 't~~ °~ ~ APP~OV~ AS TO FORM: ~',aoo~ ,~'- • .~'e!~ G~'~ Smith Assis~ant Ci#yy Attorney for th~ City Attorney Sfr~ •.....,.,,. McT~binq, Inc., a Texas corporation and a wholly owned subsidiary of AAI' Serv~ices COrporation, a foreign corporation authorized to do business in Texas f G~1/i ,'t ~ ~1"Psi G~te~ f/ Sign . ure Title Printild nar~: /C.Ch ~ ~ ~ ~ _ ~55 a /' ~ Date: r r d~ ~`~ c~~ -- ACKNOWLEDGMENT STA'~ OF TEXAS § § KNOW ALL BY THESE PRESENTS: COU~ITY E~ NUECES § This ` strut~tent was acknowledged before me on , 2007, by t'~'{'L M• ~ Sq 1~ as the 'cl eh.-}~ (title) of M urb~, Inc., a Texas cor oration, on behalf of the corporation. n _ 'r°~.~,~ROSl1LINf~ S CORTEZ ~, ~~ Notary Public T RY PUBLIC, '~~ STATE OF TEXAS S ate of Te s o,~ My Cemm. Fdtp. 11-24-2008 BOOE•bL-~ R ~~x3 'wwo~ AW +~~•„•.. S'dXal j0 31b1S ~~ ~~` !• '€ ~Aq~d ti~oN , ~~~.° H:~LEG~IRUeannie\Gary~Amendment-McTurb~ne 070328.doc Z31!!0~ S tlONIlVSOa °^a-,y'„'~ Page 4 of 4 ,~ :~ ~ ,~.. ~ ,.~.,.,'.~ . . .~.