HomeMy WebLinkAboutPR 22072: TERMINATIN OF THE ECONOMIC DEVELOPMENT CONDITIONAL GRANT AGREEMENT WITH PARC ENTERPRISES, INC. , ( •
PORT*ARThUR
ONOMIC DEVELOPMENT CORPORATION
INTEROFFICE MEMORANDUM
Date: August 9, 2021
To: The Honorable Mayor and City Council
Through: Ronald Burton,City Manager
From: Floyd Batiste,CEO Port Arthur EDC
RE: PR—22072 Termination of the Economic Development Conditional Grant Agreement
between PARC Enterprises,Inc. (PARC)and the Port Arthur Economic Development
Corporation(PAEDC)and closing of the file
Introduction:
The intent of this Agenda Item is to seek City Council's approval for the Port Arthur EDC to terminate the
Economic Development Conditional Grant Agreement with PARC Enterprises, Inc., and close the file.
Background:
On December 19, 2017, City Council authorized the PAEDC to enter into an Economic Development
Conditional Grant Agreement with PARC Enterprises, Inc., in the amount of $195,750.00 toward
infrastructure costs for construction of a multi-retail space to be completed by March of 2020. Per
Resolution 20-036, PARC was granted an additional nine months to meet the conditions set forth in the
Agreement. PARC has now reached the amended term of the Agreement. Due to extenuating
circumstances PARC has not been able to begin the project, therefore, not meeting the conditions of the
Agreement and not receiving the incentive funds.
Budget Impact:
There is no budget impact for this item.
Recommendation:
It is recommended that the City Council of the City of Port Arthur approve the termination of the Economic
Development Conditional Grant Agreement with PARC Enterprises,Inc., and closing of the file.
P. R. No. 22072
8/5/2021 KVM
RESOLUTION NO.
A RESOLUTION APPROVING THE TERMINATION OF THE
ECONOMIC DEVELOPMENT CONDITIONAL GRANT
AGREEMENT BETWEEN PARC ENTERPRISES,INC.AND THE
CITY OF PORT ARTHUR SECTION 4A ECONOMIC
DEVELOPMENT CORPORATION
WHEREAS, on December 19, 2017,the City Council of the City of Port Arthur approved
Resolution No. 17-361 authorizing the City of Port Arthur Section 4A Economic Development
Corporation ("PAEDC") to enter into an Economic Development Conditional Grant Agreement
(the "Agreement") with PARC Enterprises, Inc. ("PARC"); and
WHEREAS, per the Agreement, PARC would receive a conditional grant in the amount
of$195,750.00 toward the infrastructure costs for the construction of a multi-retail space building
in Port Arthur to be completed by March of 2020; and
WHEREAS, per Resolution 20-036, PARC was given an additional nine months to
perform the necessary construction in order to receive the agreed upon incentive; and
WHEREAS, PARC has reached the amended term of the Agreement, and due to
extenuating circumstances, has not yet been able to begin the project, therefore, not meeting the
requirement of the Agreement and not receiving the incentive funds; and
WHEREAS,on August 2, 2021,the PAEDC Board of Directors voted and acknowledged
the termination of the Agreement, thereby terminating the Agreement with PARC and closing the
file.
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 termination of the
Economic Development Conditional Grant Agreement between PARC and PAEDC and that there
has been no disbursement of PAEDC funds,therefore, approves the termination of the Agreement
and closing of the file.
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:
DONALD FRANK, SR. MAYOR PRO TEM
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Floyd Batiste, PAEDC CEO
#1888197 Page 2
APPROV S TO FORM:
So Ci,C.del
Guy N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
alecia R. T. o, City torney
41888197 Page 3