HomeMy WebLinkAboutPR 16736: APPROVING USE OF PROMOTIONAL FUNDS TO BE USED FOR THE REHABILITATION OF DOWNTOWN PAVILION TO PROMOTE NEW BUSINESS ENTERPRISE Interoffice
MEMORANDUM
To: Mayor, City Council, City Manager
From: Floyd Batiste, CEO
Date: October 13, 2011
Subject: P. R. No. 16736; Council Meeting of October 18, 2011
Attached is P. R. No. 16736 approving the use of $336,578.00 of
promotional funds to be used for the rehabilitation of the
Downtown Pavilion to promote new business enterprise.
P.R. No. 16736
10/11/2011 CS
RESOLUTION NO.
A RESOLUTION APPROVING THE USE OF $336,578.00
OF PROMOTIONAL FUNDS TO BE USED FOR THE
REHABILITATION OF THE DOWNTOWN PAVILION TO
PROMOTE NEW BUSINESS ENTERPRISE
WHEREAS, Section 4A(b)(1) of the Development Corporation Act limits Section 4A
corporations to spend no more than 10% of their corporate revenues (Section 4A tax proceeds)
for promotional purposes. The Development Corporation Act generally requires a Section 4A
development corporation to use sales tax revenues "for the promotion and development of new
and expanded businesses." Thus, a promotional expenditure under Section 4A(b)(1) must
advertise or publicize the City for the purpose of developing new or expanded business
enterprises. Authorized uses include economic development projects (such as land, equipment,
facilities and infrastructure) as set forth in Section 2(4) and (11)(a) of the Development
Corporation Act; and
WHEREAS, the City of Port Arthur Section 4A Economic Development Corporation
(the "PAEDC ") Board of Directors at its Special Board Meeting on October 10, 2011, approved
spending $336,578.00 of its promotional budget for the rehabilitation of the Downtown Pavilion
to promote new and expanded business enterprises in the City; and
WHEREAS, the City has determined that the rehabilitation of the Downtown Pavilion
will meet not only objectives sought in the Operation Downtown Ballot Proposition but will
promote and advertise the City to potential business and industries through the cultural, musical
and related events at the Downtown Pavilion and will promote continued revitalization of
Downtown Port Arthur.
s.pr16736
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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 PAEDC is hereby authorized to allocate $336,578.00 from its
Promotional Programs Account number 120- 1429 -582 -59.06 for the rehabilitation of the
Downtown Pavilion, via an adjustment to its FY2012 budget.
Section 3. That a copy of this Resolution shall be spread upon the Minutes of the City
Council.
READ, ADOPTED AND APPROVED on this day of A.D., 2011,
at a Meeting of the City Council of the City of Port Arthur, Texas, by the following vote:
AYES:
Mayor ,
Councilmembers ,
NOES:
Deloris "Bobbie" Prince, Mayor
ATTEST:
Sherri Bellard, City Secretary
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APPROVED:
Floyd Batiste, PAEDC CEO
APPROV AS TO FORM:
y N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
Valecia R. Tizeno, City Attorney
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APPROVED AS TO FORM:
City Attu. ney
J a
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