HomeMy WebLinkAboutC2016-676 - 9/20/2016 - Approved BUSINESS INCENTIVE PROJECT SERVICE AGREEMENT
This Business Incentives Project Service Agreement ("Project Service Agreement") is entered
into between the Corpus Christi Business and Job Development Corporation ("Type A
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 Cl, Title 12, Texas
Local Government Code Section 504.002 et seq, ("the Act"), 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, the 1/8 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 Type A Corporation's Board of Directors ("Board");
WHEREAS, the Type A Corporation exists for the purposes of encouraging and assisting entities
in the creation of jobs for the citizens of Corpus Christi, Texas;
WHEREAS, the City Council approved the Corporation's amended Guidelines and Criteria for
Granting Business Incentives on September 15, 2015;
WHEREAS, Section 501.073 of the Act requires the City Council to approve all programs and
expenditures of the Type A Corporation;
WHEREAS, LiftFund, Inc. ("LiftFund") has submitted a proposal to the Type A Corporation
requesting business development funds from the Board to assist small businesses by providing
a loan buy-down program;
WHEREAS, the Board has determined that it is in the best interests of the citizens of Corpus
Christi, Texas, to fund LiftFund's loan buy-down program; and
WHEREAS, the Type A Corporation and LiftFund have executed a small business incentive
agreement for a loan buy-down program to support small businesses.
In consideration of the covenants, promises, and conditions stated in this Project Service
Agreement, the Type A Corporation and the City agree as follows:
1. Project Service Agreement to Implement Business Incentives Agreement. This Project
Service Agreement between the City and the Type A Corporation is executed to implement the
Small Business Incentive Agreement between the Type A Corporation and LiftFund related to
LiftFund's loan buy-down program to support small businesses in Corpus Christi ("Business
Incentive Agreement").
2. Term. The term of this Project Service Agreement runs concurrently with the term of the
Business inrAnrit,,.C2016-670.
9/20/16
Res. 030955 Page 1 of 3
LiftFund 3b
SCANNED
3. Services to be Provided by City.
a. The City Manager or designee shall administer funding on behalf of the Type A
Corporation.
b. The City Manager or designee shall perform contract administration responsibilities
outlined in the Business Incentive Agreement for the Type A Corporation.
4. Appropriation of Funds. Any future payments by the City are subject to appropriation of
funds by City Council.
5. Effective Date. The effective date of this Project Service Agreement is the same date as the
Business Incentive agreement.
6. 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 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.
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14ea616e-02eb-4ccd-a0lb-ad52e3c7113b
APPROVED AS TO FORM: 30 day of - , 2016.
Aimee Ilk ( - I-ee J
Assistant City Attorney
For City Attorney
The City of Corpus Christi Corpus Christi Business &
Job Development Corporation
Jka9ic,Rogio
Margie
i
e ►.r. R. aryan ulley
City Manager // President
Date: �� fp P ,v Date:
Attest
S 409D09 ;;4 moN
-lee.L.,Ceell(A(241a,
Rebecca Huertav
City Secretary iY COUNCIL ___......... . ....v
sfCINTAly e
Page 3 of 3
14ea616e-02eb-4ccd-a0lb-ad52e3c7113b
CERTIFICATE OF INTERESTED PARTIES FORM 1295
1 of 1
Complete Nos.1-4 and 6 if there are interested parties. OFFICE USE ONLY
Complete Nos.1,2,3,5,and 6 if there are no interested parties. CERTIFICATION OF FILING
1 Name of business entity filing form,and the city,state and country of the business entity's place Certificate Number:
of business. 2016-129819
Corpus Christi Business and Job Development Corp
Corpus Chrisit,TX United States Date Filed:
2 Name of governmental entity or state agency that is a party to the contract for which the form is 10/27/2016
being filed.
City of Corpus Christi Date Acknowledged:
3 Provide the identification number used by the governmental entity or state agency to track or identify the contract,and provide a
description of the services,goods,or other property to be provided under the contract.
XXXX
LiftFund Project Service Agreement
Nature of interest
4
Name of Interested Party City,State,Country(place of business) (check applicable)
Controlling I Intermediary
Culbertson,Mike Corpus Christi,TX United States X
City of Corpus Christi Corpus Christi,TX United States X
Corpus Christi Regional EDC Corpus Christi,TX United States X
Sanchez,Constance Corpus Christi,TX United States X
Maldonado,Randy Corpus Christi,TX United States X
Trujillo, Lee Corpus Christi,TX United States X
Guerra,Gabe Corpus Christi,TX United States X
Braselton, Bart Corpus Christi,TX United States X
Gulley, R.Bryan Corpus Christi,TX United States X
5 Check only if there is NO Interested Party. ❑
6 AFFIDAVIT I swear,or affirm,under penalty of perjury,that the above disclosure is true and correct.
,PY p✓A,,--: MON!QUE Tt MEZ LERMA ►
4 STATE OF TEXAS ►
4 're.•t:,,>0 My Cemm. Exp, 01.23-2017 ► Sig .ture of author 1d agent of contractin. .usiness entity
AFFIX NOTARY STAMP/SEAL ABOVE
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Swop to and subscribed before me,by the sai �/ lM' l � LU({- ,this the A day of �� h
20 1 ,to certify which,witness my hand and seal of offie .
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ti (\(pocitc Ikea Lei Kfafuli Rcac_,
ignatur of officer administer' g oath Printed Name offficer administering oath Title of officer admit istering oath
Forms provided by Texas Ethics Commission www.ethics.state.tx.us Version V1.0.277