HomeMy WebLinkAboutC2010-351 - 8/31/2010 - ApprovedSMALL BUSINESS INCENTIVES PROJECT SERVICE AGREEMENT
FOR DEL MAR COLLEGE'S FASTTRAC®GROWTH VENTURET'" PROGRAM
This Small Business Incentivess Project Service Agreement ("Project Service
Agreement") is entered into between the Corpus Christi Business and Job Development
Corporation ("Corporation"} and the City of Corpus Christi, Texas ("City").
WHEREAS, the Texas Legislature in Section 4A of Article 5190.6, Vernon's Texas
Revised Civil Statutes (Development Corporation Act of 1979}, now codified as Subtitle
C1, Title 12, Texas Local Government Code, empowered local communities with the
ability to adopt an optional local safes and use tax as a means of improving the
economic health and prosperity of their citizens;
WHEREAS, on November 5, 2002, residents of the City passed Proposition 2, New and
Expanded Business Enterprises, which authorized the adoption of a sales and use tax
for the promotion and development of new and expanded business enterprises at the
rate of one-eighth of one percent to be imposed for 15 years;
WHEREAS, the 118 cent sales tax authorized by passage of Proposition 2 was
subsequently enacted by the City Council and filed with the State Comptroller of Texas,
effective April 1, 2003, to be administered by the Corporation's Board of Directors;
WHEREAS, the Corporation exists for the purposes of encouraging and assisting
entities in the creation of jabs for the citizens of Corpus Christi, Texas;
WHEREAS, the Board of Directors of the Corporation ("Board"), on September 10,
2007, amended the Corporation's Guidelines and Criteria for Granting Business
Incentivess;
WHEREAS, Section 501.073, Texas Local Government Code, requires the City Council
to approve all programs and expenditures of the corporation;
WHEREAS, the City Council approved the Corporation's amended Guidelines and
Criteria for Granting Business Incentivess on September 18, 2007;
WHEREAS, Del Mar College has submitted a proposal to the Corporation for
$120,000.00 for FastTrac®Growth Venturer" Program;
WHEREAS, the Board has determined that it is in the best interests of the citizens of
Corpus Christi, Texas, to fund the Del Mar College's FastTrac® Growth VenturerM
Program; and
WHEREAS, the Corporation and Del Mar College have executed a small business
incentives project agreement for the FastTrac® Growth Venture'"" Program.
Inconsideration of the covenants, promises, and conditions stated in this Project
Service Agreement, the Corporation and the City agree as follows:
2010-351
Res. 028755 Page 1 of 3
08/31/10
CC$JDC -- Del Mar FastTrac 08182010
INDE~.D
1. Project Service Agreement to Implement Business Incentivess Agreement.
This Project Service Agreemen# between the City and the Corporation is executed to
implement the Small Business Incentives Agreement for the FastTrac® Growth
VenturerM Program between the Corporation and Del Mar College {"Small Business
Incentives Agreement").
2. Term. The term of this Project Service Agreement runs concurrently with the term of
the Small Business incentives Agreement.
3. Services to be Provided by City.
a. The City Manager, or the City Manager's designee, shall administer funding
on behalf of the Corporation.
b. The City Manager, or the City Manager's designee, shall perform contract
administration responsibilities outlined in the Small Business Incentives
Agreement for the Corporation.
4. Appropriation of Funds. Any future payments by the City are subject to
appropriation of funds by City's Council.
5. Effective Date. The effective date of this Project Service Agreement is the latest
date that either party executes this Agreement.
G. Amendments or Modifications. No amendments or modifications to this Project
Service Agreement may be made, nor any provision waived, unless in writing signed by
a person duly authorized to sign agreements on behalf of each party.
7. Severability.
a. If for any reason, any section, paragraph, subdivision, clause, provision,
phrase or word of this Project Service Agreement or the application of this
Project Service Agreement to any person or circumstance is, to any extent, held
illegal, invalid, or unenforceable under present or future law or by a final
judgment of a court of competent jurisdiction, then the remainder of this Project
Service Agreement, or the application of the term or provision to persons or
circumstances other than those as to which it is held illegal, invalid, or
unenforceable, will not be affected by the law or judgment, for it is the definite
intent of the parties to this Project Service Agreement that every section,
paragraph, subdivision, clause, provision, phrase, or word of this Project Service
Agreement be given 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
Service Agreement, then the remainder of this Project Service Agreement is not
affected by the law, and in lieu of any illegal, invalid, or unenforceable clause or
provision, a clause or provision, as similar in terms to the illegal, invalid, or
Page 2 of 3
project Support Agreement A-City -- Del Mar FastTrac 08182010
unenforceable clause or provision as may be possible and be legal, valid, and
enforceable, will be added to this Project Service Agreement automatically.
8. Captions. The captions in this Project Service Agreement are for convenience only
and are not a part of this Project Service Agreement. The captions do not in any way
limit or amplify the terms and provisions of this Project Service Agreement.
The City of Corpus Christi
r
.~..~
' g I R. Escobar
City Manager
Date: ~ ~
Attest
Armando Chapa
City Secretary
S~'' ..~
Approved as to Legal Form: y2~ , t, 209 0.
Corpus Christi Business &
Job Development Corporation
I y ala a
hairperson
Date: ~--~~-/a
R. Jay ein'
First Assis ant City Att rney
for City Attorney
Page 3 of 3
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Project 5upporf Agreement A-City -- Del Mar FastTrac 08182410