HomeMy WebLinkAboutC2018-474 - 3/27/2018 - NA AMENDMENT NO. 4 TO DOWNTOWN DEVELOPMENT REIMBURSEMENT
AGREEMENT FOR THE 600 BUILDING
Whereas, on November 15, 2016, the Corpus Christi Tax Increment
Reinvestment Zone No. 3 (the "TIRZ #3") authorized a Downtown Development
Reimbursement Agreement between the City of Corpus Christi, as an agent of
the TIRZ #3 and The 600 Building, L.L.C. (the "Developer") regarding the
Development at 600 Leopard Street (the "Agreement");
Whereas, this Agreement was previously amended on December 22, 2016, June
13, 2017, and November 28, 2017 to extend the date for closing on the property;
and
Whereas, the Developer has requested an amendment extending the deadline
for closing on the property from March 31, 2018 to December 31, 2018 due to
financing delays at HUD;
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1) Paragraph (a) of Section 3 of the Agreement is hereby amended as
follows.
"(a) The Developer purchases the property with a closing date on or
before December 31, 2018."
2) All other terms and conditions of the previously executed Agreement
between the parties which are not inconsistent herewith shall continue in full
force and effect.
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C2018-474
3/27/18
The 600 Building SCAN N ED
EXECUTED IN DUPLICATE ORIGINALS this 20t" day of March, 2018, by the
authorized representative of the parties.
City of Corpus Christi Developer
on Behalf of the TIRZ #3 by Its Manager: Wisznia 600 Building, Inc.
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Mar ie`�;. Rose Marcel , , .......
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City Manager �-4 - j
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Attest:
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Re.ecca Huerta
City Secretary
Approved as to Legal Form on Z"`hof E 'I2 1 , 20 l cr .
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Aimee Alcorn-Reed, Assistant City Attorney
Attorney for TIRZ #3
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SECRETA