HomeMy WebLinkAboutPR 21753: EDC CONDITIONAL GRANT AGREEMENT Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO ✓
Date: January 26, 2021
Subject: P.R.No. 21753; Council Meeting of February 2, 2020
ATTACHED IS PROPOSED RESOLUTION NO. 21753
APPROVING THE CLOSING OF THE ECONOMIC
DEVELOPMENT CONDITIONAL GRANT AGREEMENT
BETWEEN GEORGE KHALAF, MICHAEL KHALAF AND
JOHN GANIM D/B/A GULFWAY PLAZA AND THE CITY OF
PORT ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION
P. R. No. 21753
1/19/2021 KVM
RESOLUTION NO.
A RESOLUTION APPROVING THE CLOSING OF THE
ECONOMIC DEVELOPMENT CONDITIONAL GRANT
AGREEMENT BETWEEN GEORGE KHALAF, MICHAEL
KHALAF AND JOHN GANIM D/B/A GULFWAY PLAZA AND
THE CITY OF PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION
WHEREAS, on November 20,2018,the City Council of the City of Port Arthur approved
Resolution No. 18-505 authorizing the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") to enter into an Economic Development Conditional Grant Agreement
(the "Agreement") with George Khalaf, Michael Khalaf and John Ganim d/b/a Gulfway Plaza
("Gulfway Plaza"); and
WHEREAS, Gulfway Plaza has fully satisfied their contractual obligations as denoted in
the memorandum attached hereto as Exhibit "A"; and
WHEREAS, on January 12, 2021, the PAEDC Board of Directors voted and
acknowledged the satisfaction of the contractual obligations, thereby concluding the Agreement
with Gulfway 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 Gulfway Plaza 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., 2021,
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:
Floyd Batiste,PAEDC CEO
APPROVED AS TO FORM:
Guy N. Goodson, PAEDC Attorney
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Page 2
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
#I826885
Page 3
EXHIBIT "A"
Port Arthur Economic
Development Corporation
Memorandum
To: PAEDC Board of Directors
From: Krystle Muller, Contract Compliance Manager
CC: Floyd Batiste, Chief Executive Officer
Re: Closing of the Economic Development Conditional Grant
Agreement with Gulfway Plaza
It is recommended that the Board close the Economic Development Conditional
Grant Agreement with Gulfway Plaza as Gulfway Plaza has fully satisfied the
terms of the Agreement with the PAEDC.
In 2018, Gulfway Plaza was awarded a conditional grant in the amount of
$344,000 to be reimbursed by the PAEDC once certain infrastructure
improvements were complete at the property located at 1645 Jefferson Dr. in
Port Arthur, Texas to allow for the construction of a multi-tenant shopping
center.
Gulfway Plaza has met the performance required by PAEDC.
kvm
501 PROCTER ST.,STE. 100,PORT ARTHUR,TX 77640
1409-963-05791 WWW.PAEDC.ORG