HomeMy WebLinkAboutPR 20836: EDC, CLOSING OF GRANT AGREEMENT WITH NOE'S SHOPPING PLAZA, LLC Interoffice
MEMORANDUM
To: Mayor, City Council City Manager
From: Floyd Batiste, CEO
Date: April 14, 2019 -�
Subject: P.R. No. 20836; Council Meeting of May 21, 2019
ATTACHED IS PROPOSED RESOLUTION NO. 20836
APROVING THE CLOSING OF THE ECONOMIC
DEVELOPMENT CONDITIONAL GRANT AGREEMENT
BETWEEN THE CITY OF PORT ARTHUR SECTION 4A
ECONOMIC DEVELOPMENT CORPORATION AND JOE'S
SHOPPING PLAZA,LLC
P.R. No. 20836
5/13/2019 KVM
RESOLUTION NO.
A RESOLUTION APPROVING THE CLOSING OF THE
ECONOMIC DEVELOPMENT CONDITIONAL GRANT
AGREEMENT BETWEEN THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
AND JOE'S SHOPPING PLAZA, LLC
WHEREAS, May 22, 2018, the City Council of the City of Port Arthur approved
Resolution No. 18-208 authorizing the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") to enter into an Economic Development Conditional Grant Agreement
(the "Agreement") with Joe's Shopping Plaza, LLC ("Joe's Plaza"); and
WHEREAS,Joe's Plaza has fully satisfied their contractual obligations as denoted in the
memorandum attached hereto as Exhibit "A"; and
WHEREAS, on May 6, 2019, the PAEDC Board of Directors voted and acknowledged
the satisfaction of the contractual obligations, thereby concluding the Agreement with Joe's Plaza.
NOW THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PORT ARTHUR, TEXAS:
Section 1.. That the facts and opinions in the preamble are true and correct.
Section 2. That the City Council hereby acknowledges that the contractual obligations in
the Economic Development Conditional Grant Agreement between Joe's Shopping Plaza, LLC and
PAEDC have been met and are complete, and therefore, approves the closing of the Agreement.
Section 3. That a copy of the caption of this Resolution be spread upon the Minutes of the
City Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2019, at a
Meeting of the City Council of the City of Port Arthur,Texas,by the following vote: AYES:
Mayor
Councilmembers
NOES:
Derrick Freeman,Mayor
ATTEST:
Sherri Bellard,City Secretary
APPROVED:
Floyd Batiste,P EDC CEO
APPROVED AS-TO FORM:
•
Gu Goodson,PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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Page 2
EXHIBIT "A"
Port Arthur Economic
Development Corporation
Memorandum
To: PAEDC Board of Directors
From: Floyd Batiste, CEO
CC: Krystle Muller, ED Specialist
Re: Closing of the Economic Development Conditional Grant
Agreement with Joe's Shopping Plaza, LLC
It is recommended that the Board close the Economic Development Conditional
Grant Agreement with Joe's Shopping Plaza, LLC ("Joe's Plaza") as Joe's Plaza has
fully satisfied the terms of the Agreement with the PAEDC.
In 2018, Joe's Plaza was awarded a conditional grant in the amount of$350,000
to be reimbursed by the PAEDC once certain infrastructure improvements were
complete at the property located at 3400 Jimmy Johnson Blvd. in Port Arthur,
Texas to allow for the construction of a restaurant and an ice cream/bakery
shop.
Joe's Plaza has met the performance required by PAEDC.
kvm
501 PROCTER ST.,STE. 100,PORT ARTHUR,TX 77640
1409-963-05791 WWW.PAEDC.ORG