HomeMy WebLinkAboutPR 23469: 1ST AMENDED AND RESTATED AGREEMENT FOR PROFESSIONAL SERVICES AND EMPLOYMENT AS CEO, EDC PORT*ARTI-IUR o "MIS DEYtt.nrY��t u�MlilA 11»
INTEROFFICE MEMORANDUM
Date: November 20, 2023
To: Honorable Mayor and City Council
Through: Ron Burton, City Manager
From: Terry Stokes, PAEDC Chief Executive Officer
RE: PR 23469—A Resolution approving the First Amended and Restated Agreement
for Professional Services and Employment as Chief Executive Officer of the Port
Arthur Section 4A Economic Development Corporation.
The intent of this Agenda Item is to seek the City of Port Arthur City Council's approval for the
First Amended and Restated Agreement for Professional Services and Employment as Chief
Executive Officer of the Port Arthur Section 4A Economic Development Corporation with Terry
Stokes.
Background:
The City of Port Arthur Section 4A Economic Development Corporation (the "PAEDC") Board
of Directors(the"Board")is given the power and authority under Article VIII, Section 8.01 of the
PAEDC Bylaws to appoint, supervise, and remove the Chief Executive Officer ("CEO") of the
PAEDC. Mr. Terry Stokes has maintained the position of Chief Executive Office of the Port
Arthur EDC since November 14, 2022, pursuant to Resolution 22-466. At their Regular Board
Meeting of November 14, 2023, the Board approved the First Amended and Restated Agreement
for Professional Services and Employment as Chief Executive Officer of the Port Arthur 4A
Economic Development Corporation with Terry Stokes.
Budgetary Impact:
The budgetary impact of this item is as follows:
• Annual Salary - $180,000.00
• Monthly Automobile Allowance - $1,000.00
• Annual Business Expenses - $15,000.00
• Annual Dues and Education- $10,000.00
Recommendation:
It is recommended that the Port Arthur City Council approve the First Amended and Restated
Agreement for Professional Services and Employment as Chief Executive Officer of the Port
Arthur Section 4A Economic Development Corporation with Terry Stokes.
P.R. No. 23469
11/20/2023 JMC
RESOLUTION NO.
A RESOLUTION APPROVING THE FIRST AMENDED AND
RESTATED AGREEMENT FOR PROFESSIONAL SERVICES
AND EMPLOYMENT AS CHIEF EXECUTIVE OFFICER OF
THE PORT ARTHUR 4A ECONOMIC DEVELOPMENT
CORPORATION
WHEREAS,the City of Port Arthur Section 4A Economic Development Corporation(the
"PAEDC") Board of Directors (the "Board") is given the power and authority under Article VIII,
Section 8.01 of the PAEDC Bylaws to appoint, supervise,and remove the Chief Executive Officer
("CEO") of the PAEDC; and
WHEREAS, Mr. Terry Stokes has maintained the position of Chief Executive Office of
the Port Arthur EDC since November 14, 2022,pursuant to Resolution 22-466; and
WHEREAS, the Board believes that a First Amended and Restated Agreement for
Professional Services and Employment as Chief Executive Officer of the Port Arthur 4A Economic
Development Corporation, negotiated between the Board, on behalf of the PAEDC, and CEO
Terry Stokes can be mutually beneficial to the PAEDC, the CEO and the community they serve
and is in the best interests of the public welfare; and
WHEREAS,when appropriately structured,the Board believes an employment agreement
can strengthen the CEO-Board relationship by enhancing the excellence and continuity of the
management of the PAEDC for the benefit of the City's economic development goals; and
WHEREAS, the Board desires to continue their employment of Terry Stokes as Chief
Executive Officer for the PAEDC; and
WHEREAS, it is the desire of the Board to provide certain benefits, establish certain
conditions of employment, and to set certain working conditions of said CEO; and
WHEREAS, at their Regular Board Meeting of November 14, 2023, the Board approved
the First Amended and Restated Agreement for Professional Services and Employment as Chief
Executive Officer of the Port Arthur 4A Economic Development Corporation with Terry Stokes;
and
WHEREAS, Terry Stokes desires to continue employment as CEO of the PAEDC per the
terms outlined in the First Amended and Restated Agreement for Professional Services and
Employment as Chief Executive Officer of the Port Arthur 4A Economic Development
Corporation attached hereto as "Exhibit A".
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 approves the Port Arthur Economic Development
Corporation to enter into a First Amended and Restated agreement for Professional Services and
Employment as Chief Executive Officer of the Port Arthur 4A Economic Development
Corporation with Terry Stokes.
Section 3. That a copy of the caption of this Resolution be spread upon the Minutes of the
City Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2023,
at a Meeting of the City Council of the City of Port Arthur, Texas, by the following vote: AYES:
Mayor ,
Councilmembers ,
NOES:
Page 2
Thurman Bartie, Mayor
ATTEST:
Sherri Bellard, City Secretary
APPROVED:
Terry Stokes,PAEDC CEO
APPROVED AS TO FORM:
PAEDC Attorney
APPROVED AS TO FORM:
Val Tizeno, City Attorney
APPROVED AS TO AVAILABILITY OF FUNDS:
4,2 (7,63 69J_tbcter,
Lynda BSswell,Finance Director
Page 3
EXHIBIT "A"
WILL BE PRESENTED AT OR BEFORE
THE COUNCIL MEETING