HomeMy WebLinkAboutPR 21054: EDC, RESCINDING RESOLUTION NO. 18-413, NDC HOUSING AND EDC Interoffice
MEMORANDUM
To: Mayor, City Council, C�,_� er
From: Floyd Batiste, CEO tt''
Date: September 17, 2019
Subject: P.R. No. 21054; Council Meeting of September 24, 2019
ATTACHED IS PROPOSED RESOLUTION NO. 21054, A
RESOLUTION RESCINDING RESOLUTION NO. 18-413 IN
ITS ENTIRETY AS IT PERTAINS TO THE APPROVAL OF A
PURCHASE AGREEMENT BETWEEN THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND NDC HOUSING AND ECONOMIC
DEVELOPMENT CORPORATION, INC.
P. R. No. 21054
9/13/2019 KVM
RESOLUTION NO.
A RESOLUTION RESCINDING RESOLUTION NO. 18-413 IN
ITS ENTIRETY AS IT PERTAINS TO THE APPROVAL OF A
PURCHASE AGREEMENT BETWEEN THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AND NDC HOUSING AND ECONOMIC
DEVELOPMENT CORPORATION,INC.
WHEREAS, per Resolution No. 18-413, the City Council of the City of Port Arthur
approved the City of Port Arthur Section 4A Economic Development Corporation ("PAEDC") to
enter into a Purchase Agreement with National Development Council Housing and Economic
Development Corporation, Inc. ("NDC"); and
WHEREAS, NDC intended to purchase approximately three (3) acres of vacant land
located on 4th Street at Mobile Avenue and Shreveport in the City of Port Arthur for the purpose
of the development and construction of townhomes and condominiums; and
WHEREAS, NDC applied for and was not awarded disaster recovery grant funding
through the General Land Office for this project; and
WHEREAS,NDC determined that because this grant would have been the main source of
planned project funds for the project, they will not move forward with the development; and
WHEREAS,the PAEDC Board of Directors at their regular Board meeting of September
9, 2019, agreed to rescind the Purchase Agreement with NDC for three (3) acres of land on 4th
Street.
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 That Resolution 18-413 is rescinded in its entirety.
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: .
Thurman Bartle, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
________....f. ,_ 1 acti_a_bL,
Floyd Batiste, AEDC CEO
APPR6# 6 AS TO FORM:
----A.c rc
Guy N. Goodso'n, PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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