HomeMy WebLinkAboutPR 22042: EDC, CLOSING OF THE ECONOMIC DEVELOPMENT CONDITIONAL GRANT AGREEMENT 70---
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PORT*ARTHUR
ONOMIC DEVELOPMENT CORPOR 1110\
INTEROFFICE MEMORANDUM
Date: June 21, 2021
To: The Honorable Mayor and City Council
Through: Ronald Burton, City Manager
From: Floyd Batiste, CEO Port Arthur EDC 4/1
RE: PR 22042—Closing of the Economic Development Conditional Grant Agreement
between PA Development Group, LLC and the City of Port Arthur Section 4A
Economic Development Corporation
Introduction:
The intent of this Agenda Item is to seek City Council's approval of the closing of the Economic
Development Conditional Grant Agreement between PA Development Group, LLC and the City
of Port Arthur Section 4A Economic Development Corporation
Background:
The PAEDC awarded PA Development Group, LLC a conditional incentive in an amount of
$245,170.00 to reimburse PA Development for infrastructure improvements at 1700 Jefferson
Dr. in Port Arthur, TX for the redevelopment of a multi-tenant building based upon findings of
facts of economic benefit .to the development of the property. PA Development Group, LLC
has completed the redevelopment to the property and are eligible to close out their Grant
Agreement.
Budget Impact:
None
Recommendation:
It is recommended that the City Council of the City of Port Arthur approve the closing of the
Economic Development Conditional Grant Agreement between PA Development Group, LLC
and the City of Port Arthur Section 4A Economic Development Corporation
P. R. No. 22042
7/16/2021 KVM
RESOLUTION NO.
A RESOLUTION APPROVING THE CLOSING OF THE
ECONOMIC DEVELOPMENT CONDITIONAL GRANT
AGREEMENT BETWEEN PA DEVELOPMENT GROUP, LLC
AND THE CITY OF PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION
WHEREAS, on April 28, 2020, the City Council of the City of Port Arthur approved
Resolution No. 20-130 authorizing the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") to enter into an Economic Development Conditional Grant Agreement
(the "Agreement") with PA Development Group, LLC ("PA Dev Group"); and
WHEREAS, PA Dev Group has fully satisfied their contractual obligations as denoted in
the memorandum attached hereto as Exhibit "A"; and
WHEREAS, on July 12, 2021, the PAEDC Board of Directors voted and acknowledged
the satisfaction of the contractual obligations, thereby concluding the Agreement with PA Dev
Group.
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 PA Dev Group 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 Bartie, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROV
Floyd Batist , PAEDC CE
APP OV FORM:
Guy N. Goodson, PAEDC Att rney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
#1884241 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 PA Development Group, LLC
It is recommended that the Board close the Economic Development Conditional
Grant Agreement with PA Development Group, LLC ("PA Development Group")
as PA Development Group has fully satisfied the terms of the Agreement with
the PAEDC.
In 2020, PA Development Group was awarded a conditional grant in the amount
of$245,170 to be reimbursed by the PAEDC once certain infrastructure
improvements were complete at the property located at 1700 Jefferson Dr. in
Port Arthur, Texas to allow for the construction of a multi-tenant shopping
center.
PA Development Group has met the performance required by PAEDC.
kvm
501 PROCTER ST.,STE. 100,PORT ARTHUR,TX 77640
1409-963-0579I WWW.PAEDC.ORG