HomeMy WebLinkAboutC2018-639 - 8/21/2018 - Approved AMENDMENT NO. 1 BUSINESS INCENTIVE AGREEMENT BETWEEN
THE CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT
CORPORATION AND TEXAS A&M UNIVERSITY— CORPUS CHRISTI
Whereas, on September 20, 2016, the Corpus Christi City Council approved an
agreement between the Corpus Christi Business and Job Development Corporation
(the "Corporation") and Texas A&M University — Corpus Christi ("TAMU-CC")
relating to the creation of degree programs in civil and industrial engineering, which
agreement had been approved by the Corporation's Board of Directors (the "Type
A Board") on August 15, 2016 (the "Agreement").
Whereas, TAMU-CC is requesting additional time to obtain matching funds and
complete the project; and
Whereas, the Type A Board wishes to continue the agreement and allow the project
to move forward.
NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS:
1) Paragraph 2 of the Agreement shall be amended to read as follows:
2. Term. The term of this Agreement shall begin on the Effective Date
and expire on December 31, 2023.
2) Paragraph 3(e) of the Agreement shall be amended to read as
follows:
(e) If the programs are not funded by TAMU-CC or the Texas
Legislature by December 31, 2020, this Agreement shall
automatically terminate.
3) 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. This Amendment becomes effective upon execution by all parties and
approval of City Council.
[Signature Page to Follow]
C2018-639
8/21/18
M2018-135
TAMU-CC
k SCANNED
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EXECUTED IN DUPLICATE ORIGINALS this I� �
day o6fiti 1ii -) IIL0 I g by the
authorized representative of the parties.
CORPUS CHRISTI BUSINESS & TEXAS A&M UNIVERSITY- CORPUS
JOB DEVELOPMENT CO'PORATION CHRISTI
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sr- Sex- 11-0''.S Kelly M.4
. uintanilla
President President
Date: 60-7/6 Date: /-/
ATTEST: HtAe-4eb Huerta
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City Secretary
Date: 62 /, V1 8
APPROVED S TO FORM:
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Aimee Alcorn-Reed
Assistant City Attorney
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