HomeMy WebLinkAboutPO 5606: BUDGET AMENDMENT City of Port Arthur
Finance Department
Memorandum
To: Steve Fitzgibbons, City Manager ~t~N{~ ~
From: Rebecca Underhill, CPA, Director of i~ce
Date: May 11, 2006
Re: P O 5606 - An Ordinance Amending the 2005-2006 budget of the City of Port Arthur
as it pertains to the receipt of funds from the Port Arthur Economic Development
Corporation (PAEDC)
Recommendation
Presented for City Council consideration and approval is PO 5606 which designates all funds received from
the PAEDC, under the administrative reimbursement agreement, to the Westside Development project.
Background
The administrative reimbursement agreement between the City and the PAEDC was approved by Council
Resolution 05-376. The PAEDC has reimbursed the City $340,388 so far. Ordinance 06-02 designated
that payment for the Westside project.
The second payment of $96,310 has been approved by the EDC Board. I am recommending that this
reimbursement, and any others received under this contract, also be designated to the Westside project.
This reimbursement contract expires September 30, 2006.
P. O. NO. 5606
RU: 05/11/06
ORDINANCE NO.
AN ORDINANCE AMENDING THE 2005/2006 BUDGET OF
THE CITY OF PORT ARTHUR AS IT PERTAINS TO THE
RECEIPT OF FUNDS FROM THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
FOR ADMINISTRATIVE REIBURSEMENT.
WHEREAS, on December 20, 2005, the City Council approved Resolution No. 05-376 authorizing
the execution of an agreement between the City and the EDC for past and furore administrative charges for
the 2005-2006 fiscal year; and
WHEREAS, the agreement is for the City of Port Arthur Section 4A Economic Development
Corporation to pay the City an Administrative charge in the mount of $300,000, plus additional moneys of
4% of incentive agreements, as well as additional moneys for other services provided by the City; and
WHEREAS, the City can amend its budget for emergencies under Section 102.009, and for
municipal purposes under Section 102.010 Local Government Code; and
WHEREAS, as denoted in Exhibit "A", the City will at this time receive $96,310 for the second
quarter of the fiscal year; and
WHEREAS, the City will receive two (2) more payments under this contract this fiscal year.
NOW THEREFORE, BE IT ORDAINED 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 2005-2006 fiscal year budget of the City is herein amended as to designate
all funds received pursuant to Resolution 05-316 to the West Side Development Project, for current and
future related expenditures.
Section 3. That a copy of the caption of this Ordinance be spread upon the minutes of the City
Council.
READ, ADOPTED, AND APPROVED, this day of May, 2006, AD, at a Special
Meeting of the City Council of the City of Port Arthur, Texas by the following vote:
Ayes: Mayor
Councilmembers:
NOES:
Mayor
ATTEST:
Evangeline Green, City Secretary
APPROVED AS TO FORM:
Mark Sokolow, City Attorney
APPROVED FOR ADMINISTRATION:
~~Ste e Fitzgibbon 'ty Manager
Rebecca Underhill, Finance Director
Z:Winance\OrdinancesXBud Amend 5606.doc
·
Exhibit "A"
OSCAR G. ORTE, MAYOR STEPHEN FITZOIBBONS
CITY MANAGER
JOHN BEARD, JR., MAYOR PRO-TEM EVANGELINE "VAN" GREEN
COUNCIL MEMBERS: CITY SECRETARY
cRA,G HANNAN City O~ ~A,~ ~. SO~O~O~
FELIX A. BARKER Ci~ A~ORNEY
THOMAS J. HENDERSON
MARTIN FLOOD
RONNIE H. THOMPSON
DELORIS PRINCE
MICHAEL "SHANE" SINEGAL ~5
April 27, 2006
Floyd Batiste, Chief Executive Office
Port Arthur Economic Development Corporation
4173 39th Street
Port Arthur, Texas 77642
Floyd:
City Council Resolution 05-376 provided for an administrative charge,
reimbursement from the EDC to the City. This payment was to be made on a
quarterly basis. I have calculated the reimbursement for the quarter ended March
31, 2006, as follows:
· aA ofongoingprojects $ 10,388
· 4% of Reliable Polymers $1,392,040 55,682
· 4% of Abraham manufacturing $541,000 21,640
· 4% of 3-D Architectural Contract $215,0008,600
$ 96,310
With your approval, I will proceed with this reimbursement.
S~rely, A
Rebecca Underhill
Director of Finance
cc: City Manager
City Attorney
Z:~inanceXJem'fifer's FilesXJennifer FJ. lesLMy Docume~ts~EDC-Projects.doc
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