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HomeMy WebLinkAboutRes 2023-06-1453 Approve Project Including a Grant from CDC for Economic Development ProjectsRESOLUTION NO. e20 2 3 - O (o - 1453 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS APPROVING A PROJECT INCLUDING A GRANT FROM THE ANNA COMMUNITY DEVELOPMENT CORPORATION TO THE ANNA ECONOMIC DEVELOPMENT CORPORATION FOR ECONOMIC DEVELOPMENT PROJECTS WHEREAS, the Anna Community Development Corporation (the "CDC') desired to provide a monetary grant (the "Grant') to the Anna Economic Development Corporation (the "EDC") and entered into an agreement with the EDC for economic development projects; and WHEREAS, the City Council of the City of Anna, Texas (the "City Council") has determined that the Grant and the above -referenced agreement between the CDC and the EDC is a project that is in the best interests of the CDC and the EDC and will promote economic development and expanded business development in the City of Anna, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA, TEXAS THAT: Section 1. Recitals Incorporated. The recitals set forth above are incorporated herein for all purposes as if set forth in hill. Section 2. Approval of Grant and Agreement. The City Council hereby approves of the Grant and approves of the CDC and EDC entering into that certain Agreement for Economic Development Projects attached hereto as Exhibit A. PASSED, APPROVED AND ADOPTED by the City Cothe 91 of Anna, Texas, on this the 13th dayuncil of June 2023. / J ATTEST: 1913 Carrie L. Land, ike, Mayor RESOLUTION NO. 05.04.23.02 ARESOLUTION OF THE ANNAECONOMIC DEVELOPMENT CORPORATIONAPPROVING AN AGREEMENT WITH THE ANNA COMMUNITY DEVELOPMENT CORPORATION FOR ECONOMIC DEVELOPMENT PROJECTS WHEREAS, the Anna Economic Development Corporation (the "EDC'J desires to enter into an agreement with the Anna Community Development Corporation (the "CDC") for economic development projects under which the CDC shall provide a grant to the EDC and the grant funds will be used by the EDC for certain projects; and WHEREAS, the EDC has determined that the Grant is in the best interests of the EDC and will promote economic development and expanded business development in the City of Anna, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE ANNA ECONOMIC DEVELOPMENT CORPORATION THAT: Section 1. Recitals Incorporated. The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Approval of Agreement; Authority to Execute Agreement. The EDC Board of Directors (the "Board's hereby approves the Agreement for Economic Development Projects attached hereto as Exhibit A (the "Agreement"). The Board further authorizes the Board's President to execute the Agreement on behalf of the EDC. PASSED AND APPROVED by the Anna Economic Development Corporation on this the 41h day of May 2023. APPROVED: Bruce orwood, PDC President ATTEST: Rocio Gonzalek5pC Se tary RESOLUTION NO. 05.04.23.01 A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION APPROVING A GRANT AND AN AGREEMENT WITH THE ANNA ECONOMIC DEVELOPMENT CORPORATION FOR ECONOMIC DEVELOPMENT PROJECTS WHEREAS, the Anna Community Development Corporation (the "CDC") desires to provide a monetary grant (the "Grant) to the Anna Economic Development Corporation (the "EDC") and enter into an agreement with the EDC for economic development projects; and WHEREAS, the CDC has determined that the Grant is in the best interests of the CDC and will promote economic development and expanded business development in the City of Anna, Texas; NOW, THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY DEVELOPMENT CORPORATION THAT: Section 1. Recitals Incorporated. The recitals set forth above are incorporated herein for all purposes as if set forth in full. Section 2. Approval of Grant and Agreement; Authority to Execute Agreement. The CDC Board of Directors (the "Board") hereby approves and authorizes the Grant (a one-time lump - sum payment) to be made to the EDC in the amount of $60,000 and further approves the Agreement for Economic Development Projects attached hereto as Exhibit A (the "Agreement'). The Board further authorizes the Board's President to execute the Agreement on behalf of the CDC. PASSED AND APPROVED by the Anna Community Development Corporation on this the 41h day of May 2023. APPROVED: Bruce- orwood CDC President ATTEST: Rocio Gonzal , CD Se et AGREEMENT FOR ECONOMIC DEVELOPMENT PROJECTS THIS AGREEMENT (this "Agreement") FOR ECONOMIC DEVELOPMENT PROJECTS is made and entered into this elwday of Aldo 2023 by and between the Anna Community Development Corporation, a Texas Type1B development corporation (the "CDC") and Anna Economic Development Corporation, a Texas Type A development corporation (the "EDC"). WHEREAS, the CDC desires to provide a monetary grant (the "Grant Funds") to the EDC provided that the EDC use the Grant Funds solely for expenditures for the project(s), whether one or more, as specified in this Agreement (the "Project(sy ); and WHEREAS, the CDC Board has found that the Project(s), and this Agreement will promote new or expanded business development in the City of Anna, Texas; and WHEREAS, this Agreement serves a public purpose, and is in the public's best interest for the CDC to provide the Grant Funds to the EDC under the terms of this Agreement; NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein the CDC and the EDC agree as follows: SECTION 1. Findings and Intent: The recitals set forth above in the "Whereas" clauses are hereby ratified by the parties as being true and correct and are incorporated herein. SECTION 2. CDC obligations and responsibilities: (A) The Grant Funds will be in the amount of $and shall be paid $60,000 by the CDC to the EDC on or before the 301h day of September 2023. (B) Other than providing the EDC with the Grant Funds, the CDC shall not be responsible for funding any part or portions of the Project(s) or otherwise participating in the Project(s). (C) The CDC shall not be a party to nor is it liable for any contractual arrangements or payments in connection with the Project(s) as relates to any contractors, engineers, architects, material providers, vendors, users, grantees or other third parties who may in any way be involved in the Project(s). Any such arrangements/payments as relates to any contractors, engineers, architects, material providers, vendors, users, grantees CDC-EDC AGREEMENT FOR ECONOMIC DEVELOPMENT PROJECTS PAGE 1 or other third parties are the sole responsibility of the EDC. There are no third -party beneficiaries to this Agreement. (D) In no event will the CDC, its board members, agents, officers, directors, elected officials, employees or representatives be liable to the EDC or any other party for indirect, exemplary, punitive, special, or consequential damages in connection with the Project(s) under any theory of law or equity (whether in contract, tort, negligence, strict liability, by statute, or otherwise). SECTION 3. EDC obligations and responsibilities: (A) The EDC agrees to fully and timely pay all amounts that it may owe in connection with the Project(s) to any and all contractors, engineers, architects, material providers, vendors, users, grantees, or other third parties and the EDC may use its owns funds from any source in combination with the Grant funds. (B) The Project(s) shall be limited to the type of projects permitted for a Type A corporation under applicable law. (C) The EDC shall comply with all applicable federal, state, county and municipal laws, ordinances, codes and regulations; including, but not limited to those adopted by the City of Anna. SECTION 4. Effective Date: The effective date of this Agreement is the date of execution by the last party that executes this Agreement (the "Effective Date"). IN WITNESS WHEREOF, the parties hereto have set their hands as of the date(s) set forth below. Anna Community Development Corporation By: I Date: its President Anna Economic Development Corporation 12 By: Bru Norwood, its President Date: V%A/ CDC-EDC AGREEMENT FOR ECONOMIC DEVELOPMENT PROJECTS PAGE 2