HomeMy WebLinkAboutC2007-447 - 10/23/2007 - ApprovedTAB A-BATENIENT AREEl1~ENT
THE STATE ~F TEA
~~JNTY ~~' NEE
This Tax ~batament Agreement {hereinafter referral to as the `Areer~ent"} is ~.ada and
enteral into by and bet~raen the CITY ~F ~RPU I~RLIST~, TEA the `overnl~lentai
Unit'} and Nueces ~ota~ holdings, L.P., a Texas lin~~ted partnership the `Owner'}, the owner of
taxable property in the qty of carpus hrlstl, Texas, 303 Buff~.lo treat, Lot 17B, Forest Park
A[~dltlon ~, corpus Christi, Nueces bounty, Texas the "Property'}.
I. AUTHORI~ATI~N
This Agreement is authorized by the Texas Property ~edevalopment and Tax Abatenrxent
A.ct, Texas Tax bode, ~haptex ~ I , as arnandel the `Act' }, and is sub j eat to t~.e ~a~ of the state
of Texas and the charter, ordinances, and orders of the Oover~~nental Unit.
IL DEFINITION
As used 1n this Agreernent, the fallor~g tarns shall have the rrieanins set fah below.
A. `Base Year value' means the assessed value of the Improvements on the Property as
cert~fted by the Nueces Jaunty Appraisal District as of the January ~ preceling the
execution of this A.gree.ent plus the agreed upon value of Imprave~nents ~,ade after
January 1 but before the execution of this Agreement.
B. `Improven~ants" means the bu11d1ngs ox portions thereof and other Irnproverr~ent,
znclud~ng fixed machinery and equiprr~ent, used far cana.ercial or industrial purposes
on the Property.
`construction Phase" means the period during which a rnaterral and substantial
improvement of the Property occurs which represents a separate anal distinct
construct~an operation undertaken for the purpaso of erecting the Impravernents. The
construction Phase ends upan the earliest to occur of the fallav~ing events:
~~ } when a certlf icata of occupancy ~s zsued far the project ~1f ~vlthln 1t~ l~~ts}; ar
~~~ hen co.rnexc~a~ ~~oduct~on of a product or provision of a service is achieved at
the facility, or
~~} when the architect o~ eng~naer supervising construction issues a certificate of
substantial completion, or same simzlar instrument, or
~OU7-447
101~31U7
~~~~~ Developm~ntl~'ax a~aternent ~greementRe~Roo#~nn U71015re~tew comm.d~c
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Nueces Hv~el Hoiding~
(4} two {2) years after the date of this Agreement.
The determination of the end of the construction Phase shall be >rx~ade by the
Crovernental Unit,ln its sole and absolute dlscxetlan, based upon the above criteria
and such other factors as the Governmental Unit may deem relevant. The
deter~n~natian of the end of the construction Phase by the Governmental Unit shall be
conclusive, and any judicial review of such determination shall be governed by the
substantial evidence rule.
~. ".~baterrrent" means the temporary or partial exemption from ad valorem taxes of
certain added value to real and personal property in gone designated f'or ecanoznic
development purposes pursuant to the Act
~, "Eligible Property" means the buildings, structures, site Improvements, and that office
space and certain personal property necessary to the operation and administration of
the Facility to be constructed pursuant to this agreement. A. list of the Eligible
Property is set Earth in the Project Description which is attached hereto as Exhibit "A'}
and made a part hereof. During the Construction Phase of the Eligible Property, the
finer nay nuke such change orders to the Eligible Property as are reasonably
necessary to accomplish its intended use, provided that no such change order may be
made which v~ill change the qualification of the pia j ect as a "Facility" under the
Guidelines and. Criteria for Granting Tax Abatement approved by the Governmental
Unit.
F. "Ineligible Pxoperty" zneans land; inventories; supplies; tools; furnishings and other
farna.s of n~avab~e personal property; vehicles; vessels; aircraft; housing; hotel
accommodations; deferred maintenance Investments; property to be rented or teased
except as provided in section ~~e}; improvements far the generation or transmission of
electrical energy not v~hally consumed. by a 1Ve~r Facility or expansion; any
irrzp~rovements, including those to produce} store ar distribute natural gas, fluids or
gases, which are not integral to the operat~an of the Facility; improvements to real
property which have an economic life of less than ~ 5 years; property ov~ned ax used by
the state of Texas or its political subdivisions or by any organization awned, operated
or directed by a po11t1ca1 subd~v~sron of the State of Texas; unless any of the above
types of property are speclfically authorized by the Governmental Unit.
U. "~4dded value" rriean the increase Zn the assessed value of the Eligible Property s a
result of "expansion" or "n~odern~zat~on" of an exlst~ng fac~~~ty or construction of a
"ne~v facility." Zt does not nrzean or include "deferred rrlaintenance."
~. "Facility" means a basic l~Ianufacturing or service Facility, Regional Distribution
Center Faci~~ty, ~~~an~l TeleconamunicationslData Processing tenter Facility,
egl0na~ ~1Sltor A.n~usernent Fac~l~ty, Central Business District ~CBD} Residential
Facility, ~ene~al Coxntnunity Facility, or Petrochemical Fa~~I~ty approved by the
Governmental Unit as set forth ~~ the Cr~idelines and Criteria far Granting Tax
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Abatement adopted ~ the governmental Unit.
Tl1e guidelines and criteria far granting Tax Abatement adopted by the governmental Unit are
incorporated as a part of this Agreement, Except as the carne lnay be modified herein, all
defrnltlans set forth therein are applicable to this Agreement.
IY~. P~~P~T~
The Property is an area within the pity of corpus Christi, Texas, located in whole ar in part
1th1n the ~ur~sdretlon of the governmental Un1t a ~s more fully described ~n Exhlb~t "B"
attached hereto and made a part hereof. laid Pxoperty is located Within a gone for tax abatement
established pursuant to chapter 312 of the Texas Tax fade, as amended, by the pity of corpus
hr~stl, Texas.
The Nueces bounty Appraisal district has established the folla~ing values far the Property
as of the January I valuation date prior to the date of execution of this Agreement,
Account No. n/a
Personal property $ n/a
~Acc~unt Igo. ~a~35~48
Laid 250,~~0
~pro~e~n~s $~Oa
The governmental Unit and the ~~vner agree that the value of any additions to the Improvements
made after January 1 or not other rise reflected on the above valuation of ~rnpravements is:
Additional Improvernents: $a
Addition of the above amount to the valuation of the Xr~proven~ents as of the January 1 valuation
date prior to the date of execution of this Agreement results in. a Base Year Value as folla~vs:
Base dear Value: ~~0,~~~,
IV. TEAM ~~ ABATEMENT A~1D Ag~E1~~1ENT
The governmental Unit agrees to abate the ad valorem taxes an the Eligible Property in
accordance with this paragraph and paragraphs V and VI hereof. The Abatement shall be
effective v~ith the January 1 valuation date immediately following the date of execution afthis
Agreement, The Abatement sha~~ continue far up to two ~~} years during the period of the
onst~uction Phase and for the next three ~} full tax years thereafter, expiring as of Deceber3l
of such third tax yeas. If the period of the onstructlon Phase exceeds tvva ~~} years, the Facility
shall be considered completed for purposes of Abatement, and rn na case shall the period of
Abatement inclusive of construct~an and completion exceed five ~~~ tax years. The years of
Abatement provided herein shall in each instance coincide with the tax year commencing on
January I and expiring on ~ecerr~ber ~ 1, and i~. no event shall the Abatement extend beyond
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December ~ I of the fifth tax year. This Abatement shall also cover as Elilb~e Property those
supplerriental in~pxove~nents to the Eligible Property that are added or constructed during the
post-construction three ~3}year period ofAhaternent, Zn no event, however, shall the total
Abatement period for such Eligible Properly exceed the maximum five ~~} year Abatement
period for the entire p~o~ ect as specified herein.
The tee of this Agreement shall continue for a period of five ~5~ years following expiration
of the abatement period. A.11 terms and conditions unposed upon the Owner sha11 continue in
effect during such period, and the Owner shall be obligated specifically to continue the n~~nx~nu
employment levels specified lae~ein. Any default shalt be subject to the provisions of Article 1ZI
hereof.
V. TA~A,~~~xTY
During the period that the Abatement is effective, taxes shall be payable as follows:
~l} The value ofthe land cozriprising the property shall be fully taxable;
~2} The Base Year ~a1ue of existing Improvements comprising the Property shall be fu11y
taxable;
~3} The value of Ineligible Property slaal~ be fully taxable; and
~4} The Added value of Eligible Property shall be abated as set forth in Part VI herein.
'V~.A~U~T ~~` ABA,T~l1~NT
The Abatement provided by this Agreement shall be based upon for a Renewal Oommunity
Facility} for each created one ~I} new permanent full-tune job per SO,~oo ofAdded value to a
property following the completion. of construetian and rnaintazns the same level of employrn~ent for
the term of the abatement agreement, the percentage of tax abated shall be in accordance with the
following schedule:
Percenta e of Abatement
construction Period I Oo°I~
knot to exceed Z years}
Year 1 75°IQ
dear ~ 75°Io
Year 0°Io
In order to be counted as a permanent job under this Agreement, the job must be a full-time
paslt~on providing regular work schedules at least 35 hours peg week. Far compliance
purposes, the determrnat~on date sha11 be January I of each year carr~naen.e~ng with the
January I following the date of completion of construction. The percentage of abatement
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provided each year under this A.grecment shall be based upon the employment information
as of January l of such year. ~ a result, the actual amount of abatement .ay vary frarn
year to year based upon employment levels and property valuations.
Note: if this project is designated as a "rehahiiitation project" under the ruldellnes
and rlterla which involves the adaptive reuse of an existing structure or building far a
FaC111ty, the project must involve t711I11n]U.n1 capital e~pendlture of ~~a,~~~. The
rehab~iltatlon prod ect rriust involve the adaptive reuse Of an exlst~ng structure or building
currently on the property tax rolls so that the tae Year value associated with the project
will include bath the value of the land and the existing irnpxoveents. The ~wne~ and
owner's landlord specifically disclaim any abatement For improvements to the building, and
the covenants and. abiigatior~s hereof shall not be binding upon owner's landlord. The sole
Eligible Property pub j ect to abatement shall he the value of persanal property such as
furniture and movable equipment installed by owner which would otherwise be considered
Znelrglble Property for any other type of abatcn~ent category. ~n no event, however, may the
total value of such personal property subject to abatement exceed l rnrllion,]
At the time of execution of this Agreement, the owner reasonably estimates and. represents
to the governmental Unit that the .Added ~Talue comprising permanent lmprovernents upon
canap~etion of the instruction Phase shall be:
~,35~,00~ ~"Estimated Added value"} of which 65~,0~~ is eligible far tax
abatement.
In the event that upon completion aF the Construction Phase the Added value if permanent
improvements, as determined by said Appraisal District, shall at any tune thereafter during the
period of Abatement be less than eight-~~ve percent ~8~°Io} of the Estimated Added 'value, not
due to circumstances beyond the control of owner, the owner agrees to pay, as additional taxes
hereunder, an amount equal to the then current tai rate iF the Crovernental Unit applied to the
difference between the Added value from eighty-five percent ASS°Io} of the Estimated Added
~Talue, rnultipl~ed by ~ ~~°Io rriinus the net percentage of Abaterrient provided under this
A.greernent. For the purposes of this provisxin, the term {`circumstances beyond the control of
Owner" shall include casualty losses, national ecinornic Factors, shutdowns due to governmental
regulations, strikes, acts of war; and the like, The formula for calculating such additional tax is
outlined as follows:
Tax lute] x ~~8~/a of Est. Added value -Actual A~} ~ alas°Io -Abatement°Io}] = ,Additional
Tai.
~~~, TEI4~PLATL~] ZPR~~EN~LI~~
The contemplated irnprivenaents are set faith. in the Project Description attached as Exhibit
"~. " wring the Construction Phase, the owner may make such change orders ti the bra j ect as
are reasonably necessary, provided that no such change order may be made which will change
the qualification of the project as a "Facility" under the uidellnes for Crranttn Tax Abatement
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approved by the governmental Unit. All improvements shall be camp~eted in accordance v~ith all
applicable lags, ordinances, pules ar regulations. During the term of this Agreement, use of the
Property shall be lirn~ted to operation of the Facility described in the Project Description
consistent v~ith the general purpose of encouraging development ar redevelaprnent of the zone
during the period of this Agreement.
~v~ner represents and warrants that this pia j act v~i~l add at least one ~ I } additional
permanent or full~tirrie operating ar contract employee par $5~,~a~ of Added Value to the
property follau~ing the completion of construction and maintain the same level of employment
for the term of the abatement agreement. The project is not expected to solely or primarily have
the effect oftransferring employment from one part of ~ueces Jaunty to another.
~Yx~i. E~~N~' ~F D~FA~J~T AND ~APTU
A. Fai~u~e to omnaence ~ eratian During Tema of A regiment, In the event that the
Facilit is not coin leted and does not be in o oration Frith the minimum number of 5~
~ ~ g p
permanent jobs by the January l following the campletian of construction, no
abatement shall be given far that tax year, anal the full amount of taxes assessed against
the property shall be duo and payable for that tax year. In the event that the ~~rner fails
to begin operation with the minimum number of 5 a per~.anent j obs by the next January
I, then the abatement Agreement shall terminate and all abated taxes during the period
of canstruct~on shall be recaptured and paid ~th~n ~a days of such termination.
B. Discontinuance of ~ erations burin Terre of Abatement. In the event the Facility is
completed and begins operation with the required nair~irnum number of permanent jabs
but subsequently discontinues ape~ations ar the nainimurn number of permanent jobs is
eat maintained on any January 1 during the term of the Agreement after the completion
of construction, for any reason except on a tomparary basis due to fire, explosion or
other casualty or accident or natural disaster, the Agreement may be terminated by the
~avernmental Unit, and all taxes previously abated by virtue of the Agreement shall be
recaptured and paid within ~a days of such termination.
Delinquent `fixes. In the event that the ~~vner ailos its ad valorem taxes to became
Jelin uent and fails to timely and properly fallo~r the legal procedures for their protest
andlor contest, this Agreement shall terminate and so shall the abatement of the taxes
far the calendar year of the delinquency. The total taxes assessed without abatement for
that calendar year shall bepaid~vithin~daysfromthedateaftern~aination. Penalty and
interest shall not begin to accrue on the additional amount of taxes due as the result of
recapture under this provision until the first day of the month fallov~ing such sixty {Ga}
day notice, at which time penalty and interest shall accrue in accord with the lags of
the State of Texas. Penalty and interest on the amount of taxes originally ~e~ied based
upon the Abatement shall, of course, begin to accrue as of the date such taxes v~ere due
in accord v~ith the lags of the State of Texas.
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D. Native of Default. Shauld the Governmental Unit determine that the Gwner is in default
accordin to the terns and conditions of this Agreement, it shall notify the owner that i~'
g
such default is not cured within sixty ~b~} days from the date of such notice ~` lure Period'},
then this Agreement may be terminated. In the event the Owner fails to cure said default
during the lure Period, this Agreement may be terminated and the taxes abated by virtue o~
the Agreement will be recaptured and paid as provided herein
~. A.ctual Added 'ague, Should the Nueces our~ty Appraisal District determine that the total
level of Added Value during any year of the terra of this Agreement after completion of the
construction Phase is lower than the Estimated .Added value such that a lower percentage
of Abatement is applicable, for each year during which an Abatement has been granted the
difference between the tax abated and the tax which should have been abated based upon the
actual Added value shall be determined by the Governmental Unit and paid within 6~ days
of not~ficatian to the Gwner of such determinatlan. Penalty and interest shall not begin to
accrue upon such sum until the first day of the rrionth fallowing such. sixty ~~~} day notice,
at which time penalty and interest shall accrue in accord with the laws of the State of Texas,
F. Reduction in Rollback Tax date. If during any year of the period of Abatement any pardon
of the abated value is added to the current total value af' the governmental Unit but is not
treated as `new property value' has defined in Section ~~. ~ I ~ 1 ~} of the Texas Tax bode}
far the purpose of establishing the "affective maintenance rate" ire calculating the `rollback
tax rate' in accord with Section ~G,~4 ~c~ ~~} of the Texas Tax fade and if the
Governmental Unit's budget calculations indicate that a tax gate in excess of the `rollback
tax rate' is required to fund the aperat~ons of the Governmental Unit for the succeeding
year, then the Governn~.ental Unit shall recapture franc the Owner a tax in an amount equal
to the lesser ofthe following:
~ I } The a~m.aunt of the taxes abated for that year by the Gavernn~ental Unit with respect to
th.e Property.
~~} The amount obtained by subtracting the rollback tax rate computed without the abated
property value being treated as new property value frarn the rollback tax rate computed
with the abated property value being treated as new property value and multiplying the
difference by the total assessed value of the Governmental Unit.
If the Gavernnaental Unit has granted an abatement of taxes to rno~e than one taxpayer, then
the amount of the recapture calculated in accord with. subparagraph ~~} above shall be
prorated on the basis of the value of the abatement with respect to each taxpayer.
This event shall not constitute a `default" under this Agreement, and the sixty ~~0} day Oure
Period provided above shall not apply. Such recaptured taxes must be paid within thirty {~}
days after notice thereof has been given to the Owner. Penalty and interest shall not begin to
accrue upon such Burn until the first day of the month fo~iowing such thirty ~~~} day nonce,
at which time penalty and interest shall accrue in accord with the laws of the State of Texas.
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C~. Continuation of Tax Lien. The amount of tax abated each year under the terms of this
Agreement shall be secured by a First and prior tax lien which shall continue in existence
frol~ year to year until such time as this A,green~ent between the Co~ernn~ental Unit and
owner is fu11y performed by Owner, or until all taxes, whether assessed or recaptured, are
paid in full,
In the event of any default by Owner, the governing body of the C~o~ernmental Unit reserves
the right to terminate or modify this Agreement. Owner shall be a~'forded written notice of such
default and the oppartun~ty to cure as provided above. l~ Qwner believes such action was
improper, owner may file an appeal in Nueces County district court within sixty ~~a} days after
written notice of the action by the governmental Unit. Owner sha11 remit to the Governmental
Unit, wzth~n such GO-day period, any additional or recaptured taxes levied pursuant to the
payment provisions of Texas Tax Code ~ 42.aS. Ifthe final deter.ination ofthe appeal increases
Gwner's tax liability above the arrlount paid, Gwner shall remit the additional tax pursuant to
Tax Code ~ 42.4. If the final determination of the appeal decreases Gwner' tax liability, the
Governmental Unit shall refund the Gwner the difference between the amount of tax paid and the
mount of tax for which Gwner is liable pursuant to Tax Code ~ 4Z.43.
~, .A~1VII~ITITI~I~
~ns~ections. The Dwner shall a11ow employees a~dlor representatives of the Governmental
Un1t t~ have access to the Property during the term of this Agreement to insp~Ct the Faclllty to
determine compliance with the terms and conditions of this Agreement. All inspections will be
made only after the glving of twenty-Four X24} hours prlar notice and will Dnly ~?~ COndllcted in
such rrzanner as to not unreasonably interfere with the construction aridlor operation of the
~`acility. All inspections will be made wlth one ar mare representatives of the Gwner and in
accordance with Gwner's safety standards,
~ ra~sa~s. The Chief Appraiser of the ~Iueces County Appraisal District shall annually
deterrnrne ~i} the taxable value of the real and personas property comprising the Property taking
Into consideration the Abatement provided by this Agreeinen.t, and {ll} the full taxable value
without Abatement of the real and personal property corriprising the Property. The Chief
Appraiser shall record bath the abated taxable value and the full taxable ~ralue in the appraisal
records. The fu11 taxable value ~iguxe listed in the appraisal records sha11 be used to compute the
amount off' abated taxes that are required to be recaptured and paid in the event this Agreement is
terminated in a manner that results in recapture. Each year the Gwner shall furnish the Chief
Appraiser with such information outlined in Chapter 22, Texas Tax Cade, s amended, as maybe
necessary for the administration ofthe Agreerrierit specified herein.
Annual Reports. Dwner shall certify to the governing body of the Gavernrrienta~ Unit on or
before April 1 each year that the Gwner is in com.p~iance with each app~zcable term of this
Agreement. Additionally, during the initial four years of the term of property tax abate>r~nent,
Gwner sha11 provide to the Governrrienta~ Unit an annual report covering those sterns ~~sted on
schedule I attached hereto in order to document the efforts of the owner to acquire gaols and
services on. a focal basis. such annual report shall be prepared on a calendar year basis and shall
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be submitted to the Governmental Unit no later than ninety ~~~~ days fallowing the and ~#' each
such calandar year. The annual report shall be accompanied by an audit letter prepared by an
Independent accaunting f~rrn which has reviewed the report.
"Buy focal' _Provlslon. The Owner additiona~~y agrees to give preference and. priority to
1oca1 manufacturers, suppliers, contractors and labor, except where not reasonably possible to do
sa without added expense, substantial inconvenience, or sacrifice 1n aperatln efficiency. In any
such exception cases involving purchases aver 1 ~,~~0.~~ a ~ustifcation for such purchase shall
be included in the annual report. The Owner further acknowledges that it is a legal and rr~oral
obligation of persons receiving property tax abaterr~ents to favor 1oca1 manufacturers, suppliers,
contractors and labor, all other factors being equal. ~'or the purposes of this provision, the terra
`local" as used to describe manufacturers, suppliers, contractors and labor shall include ~rzns,
businesses, and persons who reside ~n or rna~nta~n an office in either Nueces bounty or fan
Patricia bounty, In the event ~~ a breach of the buy local provision, the percentage of abatement
sha11 be proportionately reduced ~ to the amount the disqualified contract bears to the total
construction cast for the pra~ect.
~,INIVIENT
The Owner may assign this Agreement to any one or rr~ore corporations}, D% or mare of
the outstanding voting securities of which are owned, dixect~y or indirectly, by one of the
Owners, or any partnerships} or limited partnerships} in which an Omer, or a subsidiary of n
Owner, is a general partner. The Owner may assign this Agreement to any other new owner or
lessee of the Facility with the prior written consent of the Cavernxnental Unit, which consent
shall not be unreasonably withheld. Any assignment shall provide that the assignee shall
irrevocably and unconditionally assume all the duties and obligations of tha assignor and become
the Owner upon the same terms and conditions as set out in this Agreement. In the event more
than one antity 1s Owner hereunder, the obligations of sold entlt~es shall be ~ Dint a~ad several. Any
assignment of this Agreement shall be to an entity that wi11 provide substantially the sarnc
in~pravernents to tb.e Property, except to tha extent such irnprovem.ents have been completed. No
assignment shall ba approved if the Owner or any assignee is indebted to the C avernrnental Unit
for ad valorem taxes or other obligations.
~, ~~TIE
Any notice required to be given under tha provisions of this A.greernent shall be in writing
and shall be duly served when it shad have been deposited, with the proper postage prepaid
thereon, and duly registered or certified, return receipt requested, with the United states Postal
service, addressed to the Governmental Unit or Owner at the follawi~ag addresses. Zf mailed, any
notice or communication shall be deemed to be received three days after the date of deposit ~n
the Unltad states a11. Unless otherwise provided 1n th.1s Agreement, all notices shall be
delivered to the following addresses:
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TO the Co~ernental Unlt. ZTY ~~` CRPUS CHRISTI, TEAS
1201 Leopard Street
P. 0, fox X277
corpus Christi, Texas 7~~~9
Attn: pity Manager
To the C~vrrer: Nueces Hotel Holdings, L.P,
X401 Allen Parkv~ay, Suite 200
Houston, Teas 770I9
Attn: I~a~~d Hillman
dither party may designate a di~~'erent address by gi~ring the other party ten days' written
notzce.
This Agreement bias been executed by the parties in multiple originals or counterparts, each
havYng full farce and effect.
Executed this day of , 2007.
CO~VERNMENTAL UNIT:
ATTEST;
ITS CF ~RPUS CHRISTI, TE~A.S
By:
Armando papa, pity ec tart'
APPR~~E~ AS TC ~'~RM:
$` ~
y~
Cary .Smith, Assistant pity Attorney
for Il~ary I~ay ~'i Cher, ity Attorney
C~VNER:
By:
G r oe, City Manager
2~ e~~;~..~`~Q . A~~~HUltitt~
~T ~~cl~ [ o a3~
~ •~YMM~
S~CR£~ARY ~°
Nueces Hotel Holdings, L,P~
y~
Da~rid Hillman
Nice-President
Nueces Park A.sociate, Inc.
General Partner
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~IEDULE 1
"buy Local' Annual Reports
The follatng infornatian shall be reported to the ovemental Unit on a calendar-dear
basis during the first faun gears of the tai abatement program:
1 ~ dollar amount spent far rnaterials~ ~lacal}.
~. Dollar amount spent for materials total}.
3. Dollar amount spent for labor** {local).
4. Dollar amount spent fox labor** (total).
S. Number of jobs created in the constructian project local}.
~, Number of~obs created 111 the constructian project ~tatal}.
7. Number of jobs created on ~ pnanent basis ~lacal~.
S. Number of jobs created on a permanent basis total}.
~ `ll~aterials' is defined to include all materials used 1n excavation, site improvement,
demolition, concrete, structural steel, fire praafin, piping, electrical, instruments, paintings and
scaffolding, insulation, teinpo~ar~ construction facilities, supplies, e~uiprnent rental in
construction, small taals and consun~ables. This term does nat include major items of achinexy
and equipment not readil~~available locally.
'~'~ {Labor' is defined to include all labor in connection with the excavation, site iiprovei~ent,
der~lOlltiOn, concrete construction, sttL~Ctural steel, ~~'~ proofing, eC~Uipnlent placement, piping,
electrical, instruments, painting and scaf~aldin, insulation, construction services, craft benefits,
p~.~roll burdens, and related labor expenses, This term does not include engineering services in
connection vrith the project design.
The term "local' as used to describe manufacturers, suppliers, contractors and labor shall include
funs, businesses, and persons ~vha reside in ar maintain ~n af#`ice In either Nueces bounty ar
i~i1 ~atrlcio ~~unty.
H:IL~Cr~~IR1.5~taredlG~rylEconomic Developm~ntlTax abatement a'eem~n~RedR~~f~nn 071 D 15renew c~mm.doc
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~~hibit A
corpus Christi Project Plan
August 1 ~, ~~~?'
Nueces Hotel Holdings, ~.P., is punning to construct a Red Roof inn Hotel on a ~ .7 acre parcel
at the intersection of I-~7 and Nueces Bay Boulevard in the its of corpus hristi~ The
proposed wilding ~ a 3'story wood frame 41,~0o square foot structure with a stucco exterior
and composite shingle roof The drives and parking areas will be paved with concrete,
Amen~t~eS Include ~ Sw1t~II'nln pool, meeting room} coffee lounge, laundry morn, fitness center
and lush landscaping, with at least 1 ~ full-tirrie emplo~nnent po~Itlons. Public utilities will be
extended to and through the site and seven fire hydrants gill be installed on both Buffalo Street
and the IH-~7 frontage road, Total lnvestment ~n the lte is estllnated at 5,0~0,0~0 plus land
costs.
Permanent improvements 4,30,00
Estimated capital $ 4~3 S~,OOo
H~~]~irlgwslEco~7evlTaxAbatelRedRoo~InnR~new~omm
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~~1~~T ; ~ ~
Lot 17B, ~'ore~t Park Addition ~, ~bd~~~slon in the ~~t~ of ous ~hrist~, I~ueces
ount~, Texas, as s~.on b~ rnap o~ plat thereo~`reeo~ded in tk~e Map Records of~uec~~
ount~, Texas, and being known as 3 ~~ ~ buffalo street, Corpus hr~st~, Texas.
H;ILEG-I~IR1SI~aredlCrarySlEconomic DevelopmentlTax abatement agreerner~tRed~ao~Inn 071015renew comm.doc
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