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MEMORANDUM
To: Mayor, City Council, and Cit Manager
From: Floyd Batiste, C>d'fT-~~~ /°
Date: July 10, 2009
Subject: P. R. No. 15365; Council Meeting of July 14, 2009
Attached is P. R. No. 1536 approving closing the Economic Incentive
Contract Agreement between Redwine Family Partnership and the City of Port
Arthur Section 4A Economic Development Corporation.
z. pr15365_edc_memo
P.R. No. 15365
7/8/2009 FB/mts
RESOLUTION NO.
A RESOLUTION AS IT PERTAINS TO CLOSING
THE ECONOMIC INCENTIVE CONTRACT
AGREEIV'IENT BETWEEN REDWINE FAMILY
PARTNERSHIP AND THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION AS THE PERFORMANCE
OBLIGATIONS THEREIN HAVE BEEN
COMPLETED
WHEREAS, the City Council of the City of Port Arthur approved authorizing
an economic incentive contract between Redwine Family Partnership, LTD and the City
of Port Arthur Section 4A Economic Development Corporation which was executed by
Redwine on January 8, 2007; and
WHEREAS, on February 12, 2008, the City Council of the City of Port Arthur
approved Resolution No. 08-053 authorizing the first amendment to the economic
incentive contract between Redwine Family Partnership and the City of Port Arthur
Section 4A Economic Development Corporation; and
WHEREAS, on January 13, 2009, the City Council of the City of Port Arthur
approved Resolution No. 09-007 authorizing the second amendment to the economic
incentive contract between Redwine Family Partnership and the City of Port Arthur
Section 4A Economic Development Corporation; and
WHEREAS, on May 5, 2009, the City Council of the City of Port Arthur
approved Resolution No. 09-153 authorizing the third amendment to the economic
incentive contract between Redwine Family Partnership and the City of Port Arthur
Section 4A Economic Development Corporation; and
WHEREAS, the obligations of Redwine Family Partnership included the
construction of Anchor Drive and also having one hotel adjacent to Anchor Drive being
fully constructed and open for business on or before June 30, 2009; and
WHEREAS, Anchor Drive has been completed and the hotel, LaQuinta is open
for business; and
WHEREAS, on June 29, 2009, the Board of Directors of the City of Port Arthur
Section 4A Economic Development Corporation voted to deem this contract complete,
thereby, closing the incentive agreement contract with Redwine Family Partnership.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PORT ARTHUR:
Section 1. That the facts and opinions in the preamble are true and correct.
Section 2. That the City of Port Arthur Section 4A Economic Development
Corporation is herein authorized to close the economic incentive agreement between
Redwine Family Partnership and the City of Port Arthur Section 4A Economic
Development Corporation.
Section 3. That a copy of the caption of the Resolution be spread upon the
Minutes of the City Council.
READ, ADOPTED AND APPROVED ON THE day of
A.D. 2009, at a Regular Meeting of the City Council of the City of Port Arthur, Texas by
the following vote: AYES:
Mayor
CityCouncil:
NOES:
DELORIS PRINCE, MAYOR
ATTEST:
Tem Hanks, City Secretary
AS TO FORIVL
~~~~.~
Floyd
Mar~T. SokOlow, Cit`