HomeMy WebLinkAboutC2018-082 - 3/27/2018 - Approved AGREEMENT BETWEEN CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION AND
CITY OF CORPUS CHRISTI FOR
MANAGEMENT OF BUSINESS AND JOB DEVELOPMENT INCENTIVE PROGRAM
This Agreement for management of the Business and Job Development Incentive Program
("Agreement") is entered into between the Corpus Christi Business and Job Development Corporation
("Corporation") and the City of Corpus Christi ("City").
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, the 1/8 cent sales tax authorized by passage of Proposition 2 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, a Memorandum of Understanding established a three-party relationship between the
City, Corpus Christi Regional Economic Development Corporation (CCREDC) and Type A Board,
WHEREAS, the Board wishes to manage the use of the sales tax funds for business and job
development in an effective manner;
WHEREAS, the City wishes to manage the sales tax funds for business and job development
and has contracted with the CCREDC to provide these services in the past;
WHEREAS, the Board has determined that it is in the best interests of the residents of the City
that the Corporation use business and job development funds to repay the cost of managing the
business and job development projects funded by the Board, by execution 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 Economic Development Services. This Agreement between the
Corporation and the City is executed to provide the specific and measurable services for the
promotion and development of new and expanded business enterprises through the Services
described in Exhibit "A" and incorporated in this Agreement by reference. The City may continue to
contract with the CCREDC for the provision of these Services to the Corporation. The funds provided
under this Agreement may not be used for any expenditures not related to the provision of the
Services.
2. Payments. The Parties agree that the Corporation will pay the City $31,250 quarterly at the start of
each quarter to the Cit2for
r 0 2nrovision of the Services.
3/27/18
M2018-044 Page 1 of 4
Type A INDEXED
3. Effective Date. The effective date of this Agreement is the date on which the City Council grants
approval for this Agreement, and it is signed by all parties.
4. Term. The term of this Agreement is for one year beginning October 1, 2017 and expiring on
September 30, 2018.
5. Termination. The Parties may, by written agreement, terminate this Agreement at any time. In
the event of such termination, the City will be entitled to reimbursement for any Services provided up
to the date of termination.
6. Amendments or Modifications. No amendments or modifications to this Agreement or to the
Services 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.
7. 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: President
1201 Leopard Street
Corpus Christi, Texas 78401
If to City:
City of Corpus Christi
Attn: City Manager's Office
1201 Leopard Street
P.O. Box 9277
Corpus Christi, Texas 78401
c. Notice is effective upon deposit in the United States mail in the manner provided above.
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8. 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 e yees or agents of the other party for any purpose.
CORPUS C ISTI .BUSINE S CITY OF CORPUS CHRISTI
JOB DEVEL•P NT CO:4' ION /
•
Bart Braselton 7 Samuel eith Sel an
President Assistant City Manager
Date: r Date:1 Z f 5
ATTEST:
Reb cca Huerta
City Secretary (( C) 1// c�
Date: ` 7 !�
APPROVED AS TO FORM:
gkem,frt-lee-e-d tiligt_a*
Cit
A_
Assistant City Attorney iY COUNCIL--4-2:1-22
SECRETARY
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EXHIBIT A
The City will provide the following specific and measurable services for the Corporation:
Service as the conduit for all primary/base employers interested in local assistance from Type
A.
Preparation of a proposal for each project and include information on the company,
industry, markets, and products. Each proposal will document job creation and capital
investment numbers for inclusion in the proposal.
Suggest a proposed deal structure for each project.
Preparation of an economic and fiscal impact analysis of the project.
An analysis of the company's financial strength relative to industry standards.
Development of the necessary performance agreements.
Annual performance audits (compliance testing) and report of the findings to Type A .
Preparation of proposals for all small business assistance programs.
Processing of all invoices for payment
Annual budget for small business assistance programs.
Preparation of proposals for all education and job training skills development projects.
Annual budget for education and skills development projects.
City understands that Corporation funds approved for the promotion and development of new and
expanded business enterprises will be used only for the following Projects and no others:
a) Education/Skills Development. These funds will be used to make grants to companies and
organizations to provide training, retraining and education to insure the knowledge and skills
required for the jobs of the future are in place.
b) Business Development/Incubation. These funds will be used to develop programs and
facilities that assist small and start-up companies that have the ability to produce jobs for the
future.
c) Jobs. These funds will be used to assist companies in the creation of meaningful, wealth
producing jobs (jobs that bring in dollars from outside the community) in Corpus Christi. Funds
would be available to both existing and new companies.
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