HomeMy WebLinkAboutPR 18577: CLOSING THE ECONOMIC DEVELOPMENT CONDITONAL GRANT AGREEMENT WITH PA69 L.P. CITY OF PORT ARTHUR
Port Arthur Economic Development Corporation
Interoffice
MEMORANDUM
To: City Attorney's Office
From: Floyd Batiste, CEO
Date: September 15, 2014
Subject: P. R. No. 18577; Council Meeting on September 30, 2014
A RESOLUTION APPROVING CLOSING THE ECONOMIC
DEVELOPMENT CONDITIONAL GRANT AGREEMENT
BETWEEN PA69 L.P. AND THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
Cc: City Council Members
City Manager
FB/pr
P.R. No. 18577
9/15/14 pr
RESOLUTION NO.
A RESOLUTION APPROVING CLOSING THE ECONOMIC
DEVELOPMENT CONDITIONAL GRANT AGREEMENT
BETWEEN PA69 L.P. AND THE CITY OF PORT ARTHUR
SECTION 4A ECONOMIC DEVELOPMENT CORPORATION
WHEREAS, the City Council of the City of Port Arthur approved authorizing an
Economic Development Conditional Grant Agreement (the "Agreement") between PA69 L.P.
("PA69") and the City of Port Arthur Section 4A Economic Development Corporation (the
"PAEDC") in June 2012 per Resolution 12-274; and
WHEREAS, PA69 has met its obligations to construct an access road to the newly
constructed Marriot Hotel which complies with the City of Port Arthur's specifications, and as
required, within eighteen (18) months from the completion of the access road which provides
access to an additional commercial business; and
WHEREAS, the Marriot Hotel is complete and fully operational, and a newly
constructed Emergency Medical Center is also complete and fully operational; and
WHEREAS, PA69 has provided evidence as required by PAEDC to prove it has met all
of its obligations as set forth in the Agreement, and the Agreement shall terminate; and
WHEREAS, PAEDC reimbursed PA69 a total of $470,986.00 which was the initial
grant amount in two parts at 50% each($235,493.00); and
WHEREAS, on September 9, 2014, the PAEDC Board of Directors deemed the
Agreement complete, thereby closing the Agreement with PA69.
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 PAEDC is herein authorized to close the Agreement with PA69.
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., 2014,
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
APPROVED:
Floyd Batiste, PAEDC EO
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APP' • D AS TO FO •
Guy N. Goodson, PAEDC Attorney
APPROVED AS TO FORM:
I1
misI .
Valecia R. Tizeno, ity tto ney
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