HomeMy WebLinkAboutC2007-466 - 12/11/2007 - ApprovedBUSINESS INGENT~VE PR~JEGT AGREEMENT
This Business Incentives Project Agreement ~" Project Agreement"} is entered into
between the Corpus Christi Business and Jab Development Corporation ~"Corporation"}
and the City of Corpus Christi, Texas ~"City"}.
VI~HEREAS, the Texas Legislature in Section 4A of Article ~~ 9g.~, llernon's Texas
Revised Civil statutes Development Corporation Act of ~ 979 empowered local
communities with the ability to adopt an optional Iocal sales and use tax as a means of
ireproving the economic health and properityof their citizens;
V~HEREAS, on November , ~aa~, residents ofthe Cityof Corpus Christi {"City"}
passed Proposition ~, New end Expanded Business Enterprises, which authorized the
adoption of a sales and use tax forthe promotion and development of new and
expanded business enterprises at the rate ofone-eighth of ono percent to be imposed
for ~ 5 years,
1HEREAS, the ~ 18 cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the Btate Comptroller of Texas,
effective April 1, ~a03, to be administered by the Corporation's Board of Directors;
1NHEREAS, the Corporation exists far the purposes of encouraging and assisting
entities in the creation of jobs far the citizens of Corpus Christi, Texas;
1111HEREA, the Board of Directors of the Corporation ~"Baard"}, on September ~ ~,
~aa7r amended the Corporation's guidelines and Criteria for Granting Business
Incentives;
VIfHEREAS, Section ~1 of the Texas Development Corporation Act of ~97g, Art. a~g.~,
1lernon' Texas Revised Civil statutes, requires the City Council to approve all
prorar~s and expenditures of the Corporation;
IHEREA, the City Council approved the Corporation's amended guidelines and
Criteria for granting Business Incentives on September 1~, 2gaT;
VUHEREA, Turner Industries group, L.L.C. TIC}, has proposed the capital investment
of $1 a,0aa,aaa in the construction of a new administrative office building, fabrication
facility, lay-down yards, and material storage area with necessary equipment and
furnishings and the creation and continuous employment of ~ 8~ full-time employr~ent
positions with an average annual salary or gage of at least ~4~,aaa each in the City of
Corpus Christi;
WHEREAS, the Baard has determined that it is in the best interests of the citizens of
Corpus Christi, Texas that business incentives be offered to TIC
VI~HEREAS, the Corporation and TIC have executed an agreement to grant business
incentives to Tl forthe capital investment and the creation of jobs Business
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~~~~ ~~~
Res. ~~75~9 ~21.~oc
i~111147 Page 1 of
~'urner Indus. r~.
Inconsideration afthe covenants, promises, and conditions stated in this Project
Agreement, the Corporation and the Cityagree as follows:
1. Projeot Agreement to implement Business Incentives Agreement. This Project
Agreement between the City and the Corporation is executed to implement the
Agreement to grant Business Incentives to Turner Industries Croup, L.L.C., far the
capital investment and the creation of jabs between the Corporation and TIC.
. Terra. The term of this Project Agreement runs concurrently with the term of the
Business Incentives Agreement.
. servioe to be Provided ~y ity~
a, The City Manager, arthe pity Manager's designee, shall administer funding
on behalf of the Corporation.
~. The City Manager, orthe City Manager's designee, shall perform contract
administration reponibilitiesoutlined inthe Business Incentives Agreement for
the Corporation.
~. Appropriation of Funds. Any future payments bythe City are subjectto
appropriation of funds by City's Council.
5. effective Date. The effective date of this Project Agreement is the latest date that
either party executes this Agreement.
~. Amendments yr IVlodifications. No amendments or modifications to this Project
Agreerner~t may be made, nor any provision waived, unless in uvriting signed by a
person duly authorized to sign agreements on behalf of each party.
7. severability.
a. If far any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Agreement or the application of this Project
Agreement to any person or circumstance is, to any extent, held illegal, invalid, or
unenforceable under present orfuture lawor by a final judgment of a court of
carnpetent jurisdiction, then the remainder of this Project Agreement, or the
application of the term or provision to persons or circumstances otherthan those
as to which it i held illegal, invalid, ar unenforceable, will not be affected by the
lawor judgment, for it is the definite intentofthe parkiesto this Project
Agreement that every section, paragraph, subdivision, clause, provision, phrase,
or word of this PrajectAgreement be given full force and effect for its purpose.
b. To the extent that any clause or prevision is held illegal, invalid, or
unenforceable under present or future lava effective during the term of this Project
Agreement, then the remainder of this Project Agreement is not affected by the
law, and in lieu of any illegal, invalid, or unenforceable clause ar provision, a
clause or provision, as similar in terms to the illegal, invalid, or unenforceable
TIC Project Agreement 4A-City 071121.doc
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clause or pravisian a ray be possible and be legal, valid, and enforceable, ~rifl
~e added to this Project Agreement autor~atically.
8. Captians. the captions in this Project Agreement are for convenience anly and are
not a part of this Pra~ect Agreement. 1'he captions do not in any vuay limit or amplify the
Corms and provisions of this Project Agreement.
`The City of Carpus Christi
rge l~. Noe
pity Manager
Date:
Attest
Armando Chapa
City Secretary
Approved as to Legal Farr thidayof December, X007.
nary ith
Assistant pity Attorney
for pity Attorney
Carpus Christi Business
Jab Develapraent Carparation
C k~J
~1.~y f~~SaI414IQ
Date: ~ - ~-~ g
d~'- ~~. c~ , AUI~NORiLt~
3Y CfltlI~GII. ~
~et
TIG Project Agreement 4A-~~ty ~~~ 121.doc
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