HomeMy WebLinkAbout033251 ORD - 01/09/2024Ordinance authorizing the creation of a Corpus Christi B Corporation
project, which includes the expenditure up to $1,000,000.00 for an
agreement with South Texas Military Housing, LP for the construction
of a Chief of Naval Air Training Flag Officer quarters at Naval Air
Station - Corpus Christi; appropriating $1,000,000 from the
unreserved fund balance of the Corpus Christi B Corporation
Economic Development fund; and amending the budget.
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 8, 2016, residents of the City passed Proposition 2,
Adopting Type B Sales Tax to Replace Expiring Portion of Type A Sales Tax, which
aur; ,prized the adoption of a sales and use tax to be administered by a Type B Corporation
at the rate of one-eighth of one percent to be imposed for 20 years with use of the
proceeds for (1) 50% to the promotion and development of new and expanded enterprises
to the full extent allowed by Texas law, (2) $500,000 annually for affordable housing, and
(3) the balance of the proceeds for the construction, maintenance and repair of arterial
and collector streets and roads;
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, 2018, to be administered by the Corporation's
Board of Directors ("Board");
WHEREAS, the Board has determined that it is in the best interests of the residents
of the City that up to $1,000,000.00 from the Corpus Christi B Corporation Economic
Development Fund be reserved for a project to construct a Chief of Naval Air Training
("CNATRA") Flag Officer quarters at Naval Air Station — Corpus Christi ("NAS -CC") and
approved the reservation of funds for this project on November 13, 2023;
WHEREAS, CNATRA's continued presence at NAS -CC will provide an economic
benefit to the City through the retention of 193 military jobs and the creation of 4 new
military jobs;
WHEREAS, the Flag Officer quarters will provide an economic benefit to the City by
serving as the entertainment and community center of NAS -CC, which allows NAS -CC to
host executive military personnel and events that focus on NAS -CC and the Corpus
Christi region; and
WHEREAS, the City Council has determined that the construction of a CNATRA Flag
Officer quarters at NAS -CC will promote or develop new or expanded business
enterprises that create or retain primary jobs in Corpus Christi.
Be it ordained by the City Council of the City of Corpus Christi, Texas:
033251
Page 1 of 2
SCANNED
Section 1. Funds in the amount of $1,000,000.00 are appropriated from Type B
Fund No. 1145 for an agreement with South Texas Military Housing, LP.
Section 2. The FY2023-24 Operating Budget adopted by Ordinance No. 033151 is
amended to increase expenditures by $1,000,000.00.
Section 3. The City Council authorizes the use of up to $1,000,000.00 from the
Corpus Christi B Corporation Economic Development Fund for an agreement with South
Texas Military Housing, L.P., for the construction of a Chief of Naval Air Training Flag
Officer quarters at Naval Air Station — Corpus Christi, subject to the future approval of an
agreement by the Corpus Christi B Corporation Board.
Introduced and voted on the 4- day of w\W , 2023.
PASSED and APPROVED on the `-'" day of \JC,AU .(�„ , 202"x:
Paulette Guajardo, M
ATTEST:
033252
ecca Huerta, City Secretary
Page 2 of 2
CITY OF CORPUS CHRISTI
CERTIFICATION OF FUNDS
(City Charter Article IV, Sections 7 & 8)
I, the Director of Financial Services of the City of Corpus Christi, Texas (or his/her duly
authorized representative), hereby certify to the City Council and other appropriate officers that
the money required for the current fiscal year's portion of the contract, agreement, obligation
or expenditure described below is in the Treasury to the credit of the Fund specified below, from
which it is to be drawn, and has not been appropriated for any other purpose. Future payments
are subject to annual appropriation by the City Council.
City Council Action Date: December 12, 2023 Legistar Number: 23-1898
Agenda Item:
Ordinance authorizing the creation of a Corpus Christi B Corporation project, which includes the
expenditure up to $1,000,000.00 for an agreement with South Texas Military Housing, LP for the
construction of a Chief of Naval Air Training Flag Officer quarters at Naval Air Station - Corpus
Christi; appropriating $1,000,000 from the unreserved fund balance of the Corpus Christi B
Corporation Economic Development fund; and amending the budget.
Amount Required: $1,000,000.00
Fund Name
Accounting Unit
Account No.
Activity No.
Amount
1146
1146-15010-57-
530000
530000
$1,000,000
Total
$1,000,000
❑�+ Certification Not Required
()Lhtt& 44(.13,/
),14.1'414/w Director of Financial Services
Date: (1 k `i l