Legislation Details

File #: 24-1386    Version: 1 Name:
Type: Motion Status: Passed
File created: 8/14/2024 In control: Reinvestment Zone No. 3 - Downtown
On agenda: 9/17/2024 Final action: 9/17/2024
Title: Motion approving the Service Plan for Fiscal Year 2025 and authorizing renewal of the Interlocal Cooperation Agreement between Corpus Christi Tax Increment Reinvestment Zone #3 (TIRZ #3) and the Corpus Christi Downtown Management District (DMD) for one year to encourage the redevelopment of TIRZ #3 in the amount of $875,000 for program and incentive administration, $50,000 for downtown park maintenance activities, $50,000 for downtown right-of-way maintenance activities, $100,000 for off-duty bike patrol, and $330,000 for the DMD Match Assessment for a total contracted amount of $1,405,000.
Sponsors: Downtown Management District
Attachments: 1. TIRZ #3 Agenda Memo - DMD Interlocal FY25 Service Plan, 2. TIRZ #3 Presentation - DMD FY24 Service Plan Update & FY25 Proposal, 3. DMD & TIRZ #3 Integrated FY25 Service Plan, 4. DMD FY25 Detailed Budget Presentation, 5. TIRZ #3 & CCDMD Interlocal Agreement (2016), 6. TIRZ #3 & CCDMD Interlocal Agreement (2018)

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Motion approving the Service Plan for Fiscal Year 2025 and authorizing renewal of the Interlocal Cooperation Agreement between Corpus Christi Tax Increment Reinvestment Zone #3 (TIRZ #3) and the Corpus Christi Downtown Management District (DMD) for one year to encourage the redevelopment of TIRZ #3 in the amount of $875,000 for program and incentive administration, $50,000 for downtown park maintenance activities, $50,000 for downtown right-of-way maintenance activities, $100,000 for off-duty bike patrol, and $330,000 for the DMD Match Assessment for a total contracted amount of $1,405,000.