File #: 14-00607    Version: Name:
Type: Ordinance Status: Passed
File created: 5/22/2014 In control: City Council
On agenda: 6/10/2014 Final action: 6/17/2014
Title: Second Reading Ordinance - Type A Grant for Texas A&M University Electrical Engineering of $1,000,000 (1st Reading 6/10/14) Approving a Business Incentive Agreement between the Corpus Christi Business and Job Development Corporation (“Type A Corporation”) and Texas A&M University - Corpus Christi to provide a grant of $1,000,000 to expand its undergraduate degrees in electrical engineering and authorizing the City Manager, or designee, to execute a Business Incentive Project Service Agreement with the Type A Corporation regarding implementation and administration of the Texas A&M University - Corpus Christi Business Incentive Agreement; and appropriating $1,000,000 from the unreserved fund balance in the No. 1140 Business/Job Development Fund for said business incentive grant from the Type A Corporation to Texas A&M University - Corpus Christi and changing the FY 2013-2014 operating budget, adopted by Ordinance No. 029915, by increasing proposed expenditures by $1,000,000.
Sponsors: Economic Development
Attachments: 1. Agenda Memo - Texas A&M, 2. Ordinance - TAMUCC, 3. Type A Agreement - TAMU-CC, 4. Business Support Agreement - TAMU-CC, 5. Presentation - TAMUCC
Title
Second Reading Ordinance - Type A Grant for Texas A&M University Electrical Engineering of $1,000,000 (1st Reading 6/10/14)
 
Approving a Business Incentive Agreement between the Corpus Christi Business and Job Development Corporation ("Type A Corporation") and Texas A&M University - Corpus Christi to provide a grant of $1,000,000 to expand its undergraduate degrees in electrical engineering and authorizing the City Manager, or designee, to execute a Business Incentive Project Service Agreement with the Type A Corporation regarding implementation and administration of the Texas A&M University - Corpus Christi Business Incentive Agreement; and appropriating $1,000,000 from the unreserved fund balance in the No. 1140 Business/Job Development Fund for said business incentive grant from the Type A Corporation to Texas A&M University - Corpus Christi and changing the FY 2013-2014 operating budget, adopted by Ordinance No. 029915, by increasing proposed expenditures by $1,000,000.