HomeMy WebLinkAboutC2008-089 - 3/11/2008 - ApprovedBU~NE ~N~ENT~11E PROJECT AGREEMENT
This Business lncenti~es Project Agreet~ent ~" Project Agreement"} is entered into
between the Cor us Christi Business ar~d Job Development Corporation ~"Corporationr'}
ar~d the City of Corpus Christi, Texas ~"City"}.
I~VHEREA the Texas Legislature in section ~~ of Article ~90~8r Vernon's Texas
Revised Civil Btatutes Development Corporation Act of ~ g~9} empouvered local
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communities ~vith the abilit to adopt an optional local sales and use tax ~ ~ rneans of
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irr~proving the econor~ic health and prosperity of their citizens;
V~H~REA on Nvver~ber , ~OO~, residents of the City of Corpus Christi ~"City„}
ased Pro osition 2, Neva and Expanded Business Enterprises, v~rhich authorized the
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ado tion of a sales and use tax forthe promotion and deveiopn~ent of new and
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ex anded business enter rises at the rate of one-eighth of one percent to he imposed
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far ~ years,
WHEREAS, the 118 cent sales tax authorized by passage of Proposition ~ eras
sube uentl enacted b the City Council and filed with the State Comptroller of Texas,
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effective A ril 1, 20D8, to be administered by the Corporation s Huard of Directors;
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I~VHEREAS the Cor oration exists for the purposes of encouraging and assisting
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entities in the creation of jobs for the citi~erx of Corpus Christi, Texas;
VIIHEREA the Board of Directors of the Corporation ~"Board's}, on Septer~ber 10,
X007 amended the Corporation's uideline and Criteria for granting Business
Incentives;
VUHERE•A Bection 2~ of the Texas Development Corporation Act of ~ g79, Art. 51 go.~,
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Vernon' Texas Revised Civil Btatutes, requires the City Council to approve all
programs and expenditures of the Corporation;
~NHEREAS the Cit Council approved the Corporation's amended guidelines and
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Criteria for granting Business Incentives on Bepternber ~8, ~~07';
V~HEREAS ACCI~N Texas, Inc., ~CC1~N} has submitted a proposal to the
Cor oration to re nest business incentives of approximately o,~oo to be used to
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assistACCIN in its operation of an interest buy-do~un program to assist small
businesses in the City of Corpus Christi;
1~VHEREA the Board has determined that it is in the best interests of the citizens of
risti Texas that business incentives be offered to ACCI~IV;
Corpus Ch ,
WHEREAS, the Corporation and ACCI~N have executed an agreement to grant
business incentives to ACCIbN for the interest buy-down program to assist small
business employers (Business Incentives Agreement}.
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~~~• ~~~~~~ ACC ON Project Agreement ~A-~ity.~oc
~~~~~ ~'~x~S Page ~ of
inconsideration of the covenants, promises, and conditions stated in this Project
Agreement, the corporation and the pity agree as follows:
~. Pro'ectA reementto implement Business Incentives Agreement. This Project
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A regiment between the pity and the corporation is executed to implement the
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A reemnttQ grant Business Incentives to ACi~N for an interest buy-down program
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to assist small businesses between the orporatian end A~I~N.
~. Term The term of this Project Agreement runs concurrently with the term of the
Business Incentives Agreement.
. services to be PrQVided by ity~
a. The fit Manager, orthe pity Manager's designee, shall administerfunding
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on behalf of the corporation.
b. The pity Manager, or the pity Manager's designee, shall perform contract
administration res onsibiiities outlined in the Business Incentives Agreement for
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the corporation.
4. Appropriation ~f Funds. Any future payments by the pity are subject to
appropriation of funds by pity's council.
. ~f~eotive Date. The effective date of this Project Agreement is the latest date that
either party executes this Agreement.
G, Amendments or Modifications, No amendments or r~odifications to this Project
A regiment ma be made, nor any provision waived, unless in writing signed by a
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person duly authorized to sign agreements on behalf of each party.
~, severability.
~. If loran reason, any section, paragraph, subdivision, clause, provision,
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hrase or word of this Project Agreement or the application of this Project
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A regiment to an person or circumstance is, to any extent, hold illegal, invalid, or
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unenforceable under present or future law or by a find judgment of a court of
cam etent 'urisdiction, then the remainder of this Project Agreement, or the
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a lication of the term or provision to persons or circumstances other than those
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a to which it is held illegal, invalid, or unenforceable, will not be affected by the
lava or judgment, for it is the definite intent of the pa~ies to this Project
A reementthat Query section, paragraph, subdivision, clause, provision, phrase,
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or word of this Project Agreement be gluon full force and effect for its purpose.
b. To the extent that any clause or provision is held illegal, invalid, or
unenforceable under present or future law effective during the term of this Project
A regiment, then the remainder of this Project Agreement is not affected by the
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Iaw, and in lieu of any illegal, invalid, or unenforceable clause or provision, a
clause or revision, as similar in terms to the illegal, invalid, or unenforceable
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Ac~loN Project Agreement 4A-clty.doc
~i:II.EG-D1RISharedlarySlager~da1200813-111ACCION Praject Agreement 4A-City.doc
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clause or roviian ~ ma be possible and be legal, valid, and enforceable, vuill
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be added to this l~rojectAgreement automatically.
. ~ ton. The ca tions in this Project Agreer~ent are for convenience only and are
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a art of this Pro~ect A regiment. The captions do not in any gay limit or amplify the
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terra and provisions of this Project Ag~eernent.
The City of Corpus Christ
Corfu Christi Buine
Job Development Corporation
orge K. Noe
City Mann er
date:
Attest
Armando Chapa
City Secretary
Date: 1~u ~U p
A roved a to Legal Form this ,day of February, BOO.
Pp
.,
ry r~ith
Assistant City Attorney .
for CityAttorney
c • D~'1(a 0 ~urnuw~4
~1 ai~....~Q3 t o
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A~CI~N Project Agreement 4A-~ity.~oc
H:1tEG-pIRISh~redlGarySlagende120o813-111AC~401V Prajeck Agreeme~-t AA-City.doc
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