HomeMy WebLinkAboutPR 21109: EDC, GRANT AGREEMENT WITH KEMP CORKRAN, LLC Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO
Date: October 15, 2019
Subject: P.R. No. 21109; Council Meeting of October 22, 2019
ATTACHED IS PROPOSED RESOLUTION NO. 21109
APPROVING THE CLOSING OF THE ECONOMIC
DEVELOPMENT CONDITIONAL GRANT AGREEMENT
BETWEEN KEMP CORKRAN, LLC AND THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION
P. R. No. 21109
10/10/2019 KVM
RESOLUTION NO.
A RESOLUTION APPROVING THE CLOSING OF THE
ECONOMIC DEVELOPMENT CONDITIONAL GRANT
AGREEMENT BETWEEN KEMP CORKRAN, LLC AND THE
CITY OF PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION
WHEREAS, on March 26, 2019, the City Council of the City of Port Arthur approved
Resolution No. 19-120 authorizing the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") to enter into an Economic Development Conditional Grant Agreement
(the"Agreement")with Kemp Corkran, LLC; and
WHEREAS, Kemp Corkran, LLC has fully satisfied their contractual obligations as
denoted in the memorandum attached hereto as Exhibit "A"; and
WHEREAS,on October 7,2019,the PAEDC Board of Directors voted and acknowledged
the satisfaction of the contractual obligations, thereby concluding the Agreement with Kemp
Corkran, LLC.
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 Kemp Corkran, 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 shall 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 Bartie, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
a,Floyd Bati• e, PAEDC CEO
APPRO Y D AS TO FORM:
lir eV'
Guy N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
41692065 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 Kemp Corkran, LLC
It is recommended that the PAEDC Board close the Economic Development
Conditional Grant Agreement with Kemp Corkran, as they have fully satisfied the
terms of the Agreement with the PAEDC.
In 2019, Kemp Corkran, LLC was awarded a conditional grant in the amount of
$302,434.00 to be reimbursed by the PAEDC once certain infrastructure
improvements were complete at the property located at 2550 Highway 365 in
Port Arthur, Texas to allow for the construction of a carwash and lube shop.
Kemp Corkran has met the performance required by PAEDC.
kvm
501 PROCTER ST.,STE. 100,PORT ARTHUR,TX 77640
1409-963-05791 WWW.PAEDC.ORG