HomeMy WebLinkAboutC2018-544 - 9/12/2018 - NA DOWNTOWN DEVELOPMENT REIMBURSEMENT AGREEMENT-
STREETSCAPE AND SAFETY IMPROVEMENT PROGRAM-Goldfish
This Downtown Development Reimbursement Agreement (the "Agreement") is entered into by and
between the City of Corpus Christi,Texas(the "g_q"), as the agent of the Corpus Christi Tax Increment
Reinvestment Zone#3("TIRZ#3"),and Goldfish Holdings,LLC(the"Developer").
Recitals
WHEREAS on December 16, 2008, the City Council of the City (the "City Council") approved Ordinance
027996,which established the TIRZ#3 in accordance with Texas Tax Code Chapter 311.TIRZ#3 promotes
economic development and stimulates business and commercial activity in its downtown Corpus Christi
area(the"Zone");
WHEREAS on August 25,2015,the City Council approved a Project and Financing Plan(the"Plan")for TIRZ
#3 and the Plan has been adopted and amended annually;
WHEREAS the Board of Directors of TIRZ#3(the"Board")includes members of the City Council in a non-
public-official capacity,as well as a representative from each Nueces County and Del Mar College,who
have committed to contribute to TIRZ#3 through Interlocal Agreements created in 2009 and amended in
2012 and 2016;
WHEREAS the Corpus Christi Downtown Management District {"DMD") assists the City with
administration of TIRZ#3,recommends projects and recommends a DMD representative to be appointed
to the Board through an Interlocal Agreement;
WHEREAS on November 10, 2015, the City Council approved Ordinance 030680, which amended
Ordinance 027996 and authorized the Board to approve agreements in this form,to be entered into by
the City,as the Board considers necessary or convenient to implement the Plan and achieve its purpose;
WHEREAS the Plan contained certain programs designed to improve conditions and increase commerce
within the Zone;
WHEREAS the Developer has proposed a development plan (the "Development") for the certain work
listed on attached Exhibit A(the "Work")The Work consists of planned exterior work on the property
located at 724 N. Mesquite Street,with such property being more fully described on attached Exhibit B
(the"Property"). The Property is located within the Zone,and the Work falls within the Streetscape and
Safety Improvement Program;
WHEREAS the Development concept has been refined through cooperation between the Developer,the
City and the DMD to meet the desired goals of revitalization within the Zone and serve a public benefit;
WHEREAS any reference to"City"or"City Staff,"is entirely in agency capacity for TIRZ#3,and further the
City as a home-rule municipal corporation is not a party to this agreement;and
WHEREAS the Developer desires to be reimbursed for certain future costs incurred pursuant to the
Development, and TIRZ#3 desires to reimburse the Developer for these costs in accordance with this
Agreement;
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C2018-544
9/12/18
Goldfish Holding LLC
SCANNED
Section 4. Maintenance of Property and Work.
Developer must maintain the property for the entirety of the Agreement in accordance with the City's
Property Maintenance requirements. Citations from the Code Enforcement for property maintenance
issues will initiate termination provision(Section 6).
If the Developer completes the Work, the Developer shall maintain the Work, premises, and adjacent
public right of way in good condition and so as to not contribute to blight in the Zone.The Developer's
obligation to maintain the Work and public right of way adjacent to the Property, includes without
limitation,maintaining the landscaping,sidewalks,aesthetics,and general cleanliness of the premises.
Section 5. Termination.
Unless sooner terminated in accordance with this Section,this Agreement shall survive the expiration of
TIRZ #3. If the Developer has not fully complied with Section 2 Conditions for Reimbursement by the
Completion Date, this Agreement shall terminate immediately, unless mutually agreed to in writing in
accordance with Section 16,
Three citations from the City's Code Enforcement Division for property maintenance violations and/or
one Code Enforcement citation that results in the City abating the property will initiate a review process
by the TIRZ#3 Board,at which time the Board may elect to terminate the Agreement.
Section 6. Warranties.
Developer warrants and represents to City the following:
(a) Developer, if a corporation or partnership, is duly organized, validly existing, and in good standing
under the laws of the State of Texas,and further has all corporate power and authority to carry on its
business as presently conducted in Corpus Christi,Texas.
(b) Developer has the authority to enter into and perform,and will perform,the terms of this Agreement.
(c) Developer has timely filed and will timely file all local, State, and Federal tax reports and returns
required by law to be filed,and has timely paid and will timely pay all assessments,fees,and other
governmental charges,including applicable ad valorem taxes,during the term of this Agreement.
(d) If an audit determines that the request for funds was defective under the law or the terms of this
agreement,Developer agrees to reimburse the City for the sums of money not authorized by law or
this Agreement within 30 days of written notice from the City requesting reimbursement.
(e) The parties executing this Agreement on behalf of Developer are duly authorized to execute this
Agreement on behalf of Developer.
(f) Developer does not and agrees that it will not knowingly employ an undocumented worker. If,after
receiving payments under this Agreement,Developer is convicted of a violation under 8 U.S.C.Section
1324a(f),Developer shall repay the payments at the rate and according to the terms as specified by
City Ordinance,as amended,not later than the 120th day after the date Developer has been notified
of the violation.
Section 7. Force Majeure.
If the City or Developer is prevented,wholly or in part,from fulfilling its obligations under this Agreement
by reason of any act of God, unavoidable accident, acts of enemies,fires, floods,governmental restraint
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determined by the City,the following actions must be taken for any default that remains uncured after
the Cure Period.
(a) Developer shall immediately repay all funds paid from TIRZ#3 funds under this Agreement.
(b) Developer shall pay reasonable attorney fees and costs of court.
(c) The City and TIRZ#3 shall have no further obligations to Developer under this Agreement.
(d) Neither the City nor the TIRZ#3 may be held liable for any consequential damages.
(e) The City may pursue all remedies available under law.
Section 13. No Waiver.
(a) No waiver of any covenant or condition,or the breach of any covenant or condition of this Agreement,
constitutes a waiver of any subsequent breach of the covenant or condition of the Agreement.
(b) No waiver of any covenant or condition,or the breach of any covenant or condition of this Agreement,
justifies or authorizes the nonobservance on any other occasion of the covenant or condition or any
other covenant or condition of this Agreement.
(c) Any waiver or indulgence of Developer's default may not be considered an estoppel against the City
or TIRZ#3.
(d) It is expressly understood that if at any time Developer is in default in any of its conditions or
covenants of this Agreement,the failure on the part of the City to promptly avail itself of the rights
and remedies that the City may have,will not be considered a waiver on the part of the City,but City
may at any time avail Itself of the rights or remedies or elect to terminate this Agreement on account
of the default.
Section 14. Available Funds.
Developer specifically agrees that City and the TIRZ#3 shall only be liable to Developer for the actual
amount of the money due Developer under this Agreement from TIRZ#3 funds,and shall not be liable to
Developer for any actual or consequential damages,direct or indirect,interest,attorney fees,or cost of
court for any act of default by City or the TIRZ#3 under the terms of this Agreement. Payment by City is
strictly limited to the total amount of increment funds for TIRZ #3. City shall use its best efforts to
anticipate economic conditions and to budget accordingly. However,it is further understood and agreed
that,should the actual tax increment funds be less than the total amount paid to all contracting parties at
the time,then in that event,all contracting parties shall receive only their pro rata share of the available
increment funds for that year,as compared to each contracting parties'grant amount for that year,and
City and the TIRZ#3 shall not be liable to for any deficiency at that time or at any time in the future. In
this event, City will provide all supporting documentation, as requested. Reimbursements paid to
Developer shall require a written request from Developer accompanied by all necessary supporting
documentation,as outlined in Section 2.
Section 15. Notices.
Any required written notices shall be sent by certified mail,postage prepaid,addressed as follows:
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Section 20. Sole Agreement.
This Agreement constitutes the sole agreement between City and Developer. Any prior agreements,
promises, negotiations, or representations, verbal or otherwise, not expressly stated in this Agreement,
are of no force and effect.
APPROVED AS TO FORM: J day of t+NAl ,2018.
GLui/' =
Assistant City Attorney
For City Attorney
00i
By: �L"r_� .///
City Manager/Desi: ee
i 4,'
Date: AO
City of Co a us Christi on behalf of Tax Increment Reinvestment Zone#3
Attest:
BY. , i i I .i ‘-i------".----
A .4 t/�
Rebecca Huerta
City Secretary
1 1-Z AUTHUKILu
Developer J ITt w x yv
By: � .. ..,.0,2Y,
President/Chie Exe utive Officer
Date: q it 11
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Exhibit A— Project Description
The Gold Fish is a mostly outdoor,biergarten style bar located on the corner of Mesquite and Taylor
Streets in Downtown Corpus Christi.Originally a gas station,the stand alone building in which the Gold
Fish is located has character and history that each of the business owners honor,while taking into
consideration the modern wants and needs of people today.
The Gold Fish will install 2 gooseneck light fixtures and 2 Vivotek surveillance cameras in order to help
improve pedestrian safety at night.A double-sided wood sign with a carved goldfish covered in 23 karat
gold leaf will also be installed to increase the biergarten's viability.
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Exhibit D—Request for Reimbursement Form
Cny of Corpus Christi-City Manager's Office
Corpus Chrun Oowntown Management WStriCt
Tax Increment Reinvestment Zone #3
Request for Reimbursement
Project Name
Grant Program.
Type of Reimbursement ['One Time { JRe-occurring(First Payment)
Requestor Date Requested
improvement Estimated Cost Actual Cost Invoice
peregnmere rye q per Aura ed Dramertateel Relerenoe
1)
2)
TOTAL
Attached is the Following
1) Executed TRI 43 Rembursement Agreement i
2) Cert,ficate of Occupancy Date. EJ
3 Documentat on of Expenses
Signatures for Submittal
Authcrr:ed Deae!oper Date
Author;:ed General Contractor Date-
An sintini fda a ItequettJor Assisnioursement wig roc be processed Athol o hard copy and orenbirord PDF
version to.•"sr;5.16': tr.:s cam.upon receipt of find anpeadon mil be sr bedded
Signatures for Approval Process
Request Reed By City
Documentation Complete Inspection of Project'
Notes
Reimbursement Approved by TIRZ u3 Board Date
*ax i^crerrent Fe+t:es-n`e^.t zone e3 Request for s;e:mrursement
Updated 0 tcber 20:5