HomeMy WebLinkAboutPR 13331: GULF COPPERinteroffice
MEMORANDUM
To: Mayor, City Council and City Manager
From: Mark T. Sokolow, City Attorney ~ ~
Date: November 11, 2005
Subject: P. R. 13331
Attached is P. R. No. 13331 as it pertains to the proposed
EDC incentive agreement with Gulf Copper Manufacturing Corp.
MTS/gt
Attachment
cc: Guy Goodson
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P.R. No. 13331
11/11/05 gt
RESOLUTION NO.
A RESOLUTION AS IT PERTAINS TO GULF COPPER
MANUFACTURING CORP.
WHEREAS, the City Council per Resolution No. 04-429
approved an incentive agreement to be entered into between the
City of Port Arthur Section 4A Economic Development
Corporation and Gulf Copper Manufacturing Corp.; and,
WHEREAS, the incentives provided for up to $500,000 in
incentive funds; and
WHEREAS, Gulf Copper was to relocate the dry dock to the
Intracoastal Canal by January 1, 2006; and
WHEREAS, the facility was to be in operation by July 1,
2006; and
WHEREAS, this agreement had not been signed by Gulf
Copper as of today's date; and
WHEREAS, the City of Port Arthur Section 4A Economic
Development Corporation budget has $1,500,000 designated for
development this fiscal year and another $1,000,000 as a
development reserve; and
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WHEREAS, Gulf Copper has requested to renegotiate items
in the proposed agreement including the performance
timetables; and
WHEREAS, the City of Port Arthur Section 4A Economic
Development Corporation needs to have a reserve for projects.
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 Director of Finance will continue
to reserve $500,000 in the development funds for this project
until If a mutually acceptable final agreement is
not approved by the City of Port Arthur, the City of Port
Arthur Section 4A Economic Development Corporation, and by
Gulf Copper Manufacturing Corp. by that date, then no funds
will be reserved therefor and this incentive project will no
longer be authorized.
Section 3. That a copy of this Resolution be spread
upon the minutes of the City Council.
READ, ADOPTED AND APPROVED on this the __ day of
, 2005, at a Regular meeting of the City Council
of the City of Port Arthur, Texas, by the following vote:
AYES: Mayor ;
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City Councilmen~Ders
NOES:
OSCAR ORTIZ, MAYOR
ATTEST~
EVANGELINE GREEN, CITY SECRETARY
APPROVED AS TO FORM
MARK T. SOKOLOW, CITY ATTORNEY
APPROVED FOR ADMINISTRATION~
STEPHEN FITZGIBBONS, CITY MANAGER
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