HomeMy WebLinkAboutC2013-490 - 12/10/2013 - Approved i
AGREEMENT BETWEEN CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION AND
CITY OF CORPUS CHRISTI FOR
HOMEBUYER ASSISTANCE SERVICES —EXISTING HOMES
This Agreement for Homebuyer Assistance Services ("Agreement") is entered into between the
Corpus Christi Business and Job Development Corporation ("Corporation") and the City of Corpus
Christi ("City") a Texas home rule municipality.
WHEREAS, the Texas Legislature in Section 501 of the Local Government Code (Development
Corporation Act of 1979) empowered local communities with the ability to adopt an optional local
sales 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, in the same election, the residents of the City passed Proposition 2B, Affordable
Housing, which authorized the use of a portion of the sales and use tax approved under Proposition 2
for affordable housing, up to $500,000 annually, so long as there are projects for which the amount
can reasonably be used;
WHEREAS, the 1/8 cent sales tax authorized by passage of Proposition 2 and allocated under
Proposition 2B for affordable housing was subsequently enacted by the City's City Council ("City
Council") and filed with the State Comptroller of Texas, effective April 1, 2003, to be administered by
the Corporation's Board of Directors ("Board");
WHEREAS, the Board wishes to fund affordable housing projects in an effective manner;
WHEREAS, the City through its Neighborhood Services Department ("Department") manages
several programs to assist eligible citizens with affordable housing;
WHEREAS, the City is willing to provide the services that the Board wishes to fund and has
provided these services in the past for the Board;
WHEREAS, the Board has determined that it is in the best interests of the residents of the City
that the City be awarded affordable housing funds, by execution of this Agreement, to accomplish the
affordable housing project described in Exhibit "A" of this Agreement;
In consideration of the covenants, promises, and conditions stated in this Agreement, the
Corporation and the City agree as follows:
1. Agreement to Provide Affordable Housing Services. This Agreement between the Corporation
and the City is executed to implement the promotion and development of an affordable housing
project described in Exhibit "A" and is incorporated in this Agreement by reference. The parties have
approved this Agreement in the amount of$250,000. The parties also agree that an additional
2013-490
12/10/13 Page 1 of 3
M2013-178
CCBJDC
INDEXED
a
i
amount of$22,000 is necessary for the Department to administer the programs that the Department
will operate for the Corporation in fiscal year 2013-2014. This money is available from existing funds.
2. Effective Date. The effective date of this Program Agreement is the date on which the City
Council grants approval to the Corporation for this Project, so long as all parties have executed this
Agreement.
3. Term. The term of this Agreement extends twelve (12) months from the date the last party
executes this document or the amount of time necessary for the parties to carry out their obligations
under the Agreement.
4. Amendments or Modifications. No amendments or modifications to this Agreement may be
made, nor any provision waived, unless the amendment or modification is made in writing and signed
by persons duly authorized to sign agreements on behalf of all parties.
5. Notices.
a. Any required written notices shall be sent, certified mail, return receipt requested,
addressed as follows:
If to Corporation:
City of Corpus Christi Business and Job Development Corporation
Attn: Executive Director
1201 Leopard Street
Corpus Christi, Texas 78401
If to City:
City of Corpus Christi
Attn.: Director of Neighborhood Services Department
P.O. Box 9277
Corpus Christi, Texas 78469-9277
City of Corpus Christi
Attn.: City Manager
P.O. Box 9277
Corpus Christi, Texas 78469-9277
c. Notice is effective upon deposit in the United States mail in the manner provided above.
6. Relationship of Parties. In performing this Agreement, the Corporation and the City shall act in
an individual capacity, and not as agents, representatives, employees, employers, partners, joint-
venturers, or associates of one another. The employees or agents of either party may not be, nor be
construed to be, the employees or agents of the other party for any purpose.
Page 2 of 3
CORPUS C RIST BUSINESS & 1,A013-11€
�h�
JOB DEV' LOP NT CORPORATION
1�_ dT COUNCIL........ ..
Signature _
Printed name: A. i 4,44-g, L.�
3ECAlTAR�1
Date: /•Z - /l — ao/�
ATTEST: CITY OF CORPUS CHRISTI
S n Thorpe ‘:::". "Cfrt1)4..v
City Secretary Assistant CityManager
Date: l D-- I 1 cl/13 Date: (21/1//3
APPROVED AS TO FORM:
...e20-4ZrZ72.v
Juliad Grant eborah Brown
Senior Assistant City Attorney Assistant City Attorney
Attorney for Corporation Attorney for City
Page 3 of 3