HomeMy WebLinkAboutC2015-365 - 7/21/2015 - Approved FIRST AMENDMENT TO THE BUSINESS INCENTIVE AGREEMENT FOR
THE RETENTION OF JOBS BETWEEN THE CORPUS CHRISTI BUSINESS
AND JOB DEVELOPMENT CORPORATION AND HEB GROCERY
COMPANY, LP
This First Amendment (this "First Amendment") to the Business Incentive Agreement for
the Retention of Jobs is entered into between the Corpus Christi Business and Job
Development Corporation (the "Corporation") and HEB Grocery Company, LP ("HEB"), a
Texas limited partnership.
WHEREAS, the Corporation and HEB entered into that certain Business Incentive
Agreement for the Retention of Jobs between the Corpus Christi Business and Job
Development Corporation and HEB to improve McCampbell Road, dated February 8,
2013 ("Agreement");
WHEREAS, HEB has requested that the Corporation provide additional funds in an
amount up to $250,000 for costs incurred by HEB to improve McCampbell Road and
related utility improvements;
WHEREAS, the Corporation agrees that it is in the best interests of the residents of the
City of Corpus Christi to provide the additional funding requested by HEB;
NOW, THEREFORE, in consideration of the covenants, promises, and conditions stated
in this First Amendment, the Corporation and HEB agree as follows:
1. The effective date of this First Amendment is the latest date that either party
executes this First Amendment.
2. The first paragraph of Section 5 of the Agreement is hereby amended to read as
follows:
Corporation Performance Requirements. Provided that HEB complies with the
terms of this agreement, the Corporation shall reimburse HEB for actual,
documented expenses incurred to design and construct the McCampbell Road
Project (the "Actual project Expenses"). Subject to 5(B) herein, the Corporation's
reimbursement of the Actual Project Expenses shall be made to HEB in five (5)
annual payments (each a "Corporation Grant") up to a maximum amount of
$1,100,000 ("the "Maximum Reimbursement Amount").
3. This First Amendment embodies the entire agreement between the Corporation
and HEB with respect to the amendment of the Agreement, as of the effective date
hereof. In the event of any conflict or inconsistency between the provisions of this First
Amendment and the Agreement, the provisions of this First Amendment shall control.
4. Except as specifically modified and amended herein, all other terms, provisions,
requirements, and specifications contained in the First Agreement shall remain in full
force and effect.
2015-365
Page 1 of 2
7/21/15 #218141v1
Ord. 030562
HEB Grocery Company LP INDEXED
.5. This First Amendment shall be governed by the laws of the State of Texas.
CORPU-. • 'RISTI ' 4, • - & JOB DEVELOPMENT CORPORAT ION
B Li y w Approved as to Legal Form in the
B:rt Bras- on Amendment
President
Date: k
By: 9k'
A
ASsi, G,y A tiotne
7 Attest: Cit(i OR CC
q--,
By: C -• !
e•ecca uerta
Assistant Secretary
HEB Grocery Company, LP
0Vd _ u i iltiKlo.•
a ,Y CUUI.._.�. -1.._.
By: .,
Todd A. Piland SECRtTAlty ,
Executive Vice President
THE STATE OF TEXAS
COUNTY OF BEXAR
t 2015, byTodd A. Piland actingas
This instrument was acknowledged before me on
Executive Vice President of HEB Grocery Compa , LP, a Texas limited partnership, on behalf of
the partnership.
,, .6'% DEBRA L. SALDANA
'_' • s Notary Public,State of Texas
_n ,..----
C.,.._,
.� = My Commission Expires
QL �, `s March 12, 2018
Notary Public
State of Texas
Page 2 of 2
#218141v1