Loading...
HomeMy WebLinkAbout032123 ORD - 06/09/2020 1 One reading ordinance approving an agreement between the City of Corpus Christi and the Corpus Christi Business and Job Development Corporation in an amount not to exceed $500,000 for Type A funding of arterial and collector streets within the City; approving a Chapter 380 agreement in an amount not to exceed $500,000 with Lift Fund, Inc. for a small business recovery program; appropriating $500,000 from the unreserved fund balance of the Business and Job Development Fund for use on the arterial and collector street improvements; amending the operating and capital budget. WHEREAS, on November 5, 2002, residents of the City of Corpus Christi ("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 businesses enterprises within the City at a rate of one-eighth of a percent for 15 years; WHEREAS, the 1/8th 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 Corpus Christi Business and Job Development Corporation Board ("Type A Board"); WHEREAS, the Type A Board has determined that it is in the best interest of the citizens of the City that economic development funds be used to fund repairs to specified arterial and collector streets through the City's Street Preventative Maintenance Program and that the City create an economic development program for small business incentives related to the COVID-19 pandemic; WHEREAS, the following arterial and/or collector streets in the City are in need of repair: Interstate 37 (IH-37) from Mesquite Street to Shoreline Boulevard North and Staples Street from South Padre Island Drive to Gollihar Road and said streets are necessary for the promotion and development of new and expanded business enterprises within the City (the "Project"); WHEREAS, the Project is consistent with the purposes for which the Business and Job Development Fund was created and approved by the voters of the City, in that the use of the funds allows for the promotion or development of new and expanded business enterprises, the development of programs and facilities that assist small companies that can produce jobs of the future, and assistance to businesses for the creation of meaningful, wealth-producing jobs within the City; WHEREAS, Lift Fund, Inc. has proposed to administer a $500,000 program that aids small businesses within the City and requires the creation or retention of jobs; WHEREAS, the City has established a program in accordance with Article III, Section 52-a of the Texas Constitution and Chapter 380 of the Texas Local Government Code ("Chapter 380") under which the City has the authority to make loans or grants of public funds for the purposes of promoting local economic development and stimulating business and commercial activity within the City; 032123 SCANNED 2 WHEREAS, the City has concluded and hereby finds that the proposed Chapter 380 agreement with Lift Fund, Inc. promotes economic development in the City of Corpus Christi and, as such, meets the requirements under Chapter 380 and the City's established economic development program, and, further, is in the best interests of the City; and WHEREAS, the City recognizes the positive economic impact that the proposed Chapter 380 agreement will bring to the City through development and diversification of the economy, reduction of unemployment and underemployment through the production of new jobs, the attraction of new businesses, and the additional tax revenue generated for the City. NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF CORPUS CHRISTI, TEXAS: SECTION 1. The City Council specifically finds that the foregoing statements included in the preamble of this ordinance are true and correct and adopts such findings for all intents and purposes related to the authorization of this project. SECTION 2. That the project, as approved by the Type A Board on June 8, 2020, to expend $500,000 for Street Preventative Maintenance Program repairs to specified arterial and collector streets within the City is approved. SECTION 3. That $500,000 from the unreserved fund balance in the Fund No. 1140 Business/Job Development Fund is appropriated for the repairs to specified arterial and collector streets within the City. SECTION 4. That Ordinance No. 031870, which adopted the FY 2019-2020 Operating and Capital Budget, is amended to increase proposed expenditures in the No. 1140 Business/Job Development Fund by $500,000 for the repairs to specified arterial and collector streets within the City and transferring these funds to the 1041 Street Fund, to decrease the expenditures in the No. 1020 General Fund for the transfer to the Street Maintenance by $500,000, and increase the expenditures in the No. 1020 General Fund by $500,000 for the Chapter 380 agreement with Lift Fund, Inc. SECTION 5. That the City Manager or designee is authorized to execute an agreement with the Corpus Christi Business and Job Development Corporation in an amount not to exceed $500,000 for Street Preventative Maintenance Program repairs to specified arterial and collector streets within the City and the creation of an economic development incentive program to provide assistance to small businesses for job creation and business development. SECTION 6. That the City Manager or designee is authorized to execute a Chapter 380 agreement with Lift Fund, Inc. in an amount not to exceed $500,000 to provide relief to small businesses within the City. SECTION 7. That upon written request of the Mayor or five Council members, copy attached, the City Council (1) finds and declares an emergency due to the need for 3 immediate action necessary for the efficient and effective administration of City affairs and (2) suspends the Charter rule that requires consideration of and voting upon ordinances at two regular meetings so that this ordinance is passed and takes effect upon first reading as an emergency measure on this the 9th day of June, 2020. This ordinance takes effect upon City Council approval on this the 9 \A day of T _ , 2020. ATTEST: CITY OF CORPUS CHRISTI Rchxe,e,„ActeAz. , Reb cca Huerta Joe tomb City Secretary Mayo day of , 2020 Corpus Christi, Texas PASSED AND APPROVED on this the day of t-A(\k_ , TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in the emergency clause of the foregoing ordinance, an emergency exists requiring suspension of the Charter rule as to consideration and voting upon ordinances at two regular meetings: I/we, therefore, request that you suspend said Charter rule and pass this ordinance finally on the date it is introduced or at the present meeting of the City Council. Respectfully, Respectfully, di LL Jo- c omb Ma or Council Members 032123 4 The above ordinance was passed by the following vote: Joe McComb Roland Barrera P Rudy Garza A(,x Paulette M. Guajardo let - .__ Gil Hernandez Michael Hunter fJ Ben Molina P\b nt Everett Roy Ac--e Greg Smith PV- ,Q._ 032123