Type B Board approves corrected January minutes, reviews financial report, and holds executive session on development incentive and litigation
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The Corpus Christi B Corporation – Type B met on February 9, 2026 at 1:30 PM in Council Chambers. A quorum was present (Vice‑President Jesus Jimenez absent). The board approved corrected minutes for the January 12, 2026 meeting; Director of Finance Sergio Villasana presented the Type B financial report as of December 31, 2025; and the board discussed executive session matters related to an economic development incentive agreement with Elevate QOF, LLC (hotel and retail project near Chaparral Street and Lomax Street) and litigation in Ajit David v. City of Corpus Christi et al. There were no public comments. The meeting adjourned at 2:53 PM.
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Key decisions
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- Approved minutes for the Type B Board January 12, 2026 meeting as corrected.
- Received presentation of the Type B Financial Reports as of December 31, 2025 from Director of Finance Sergio Villasana.
- Discussed executive session matters regarding the economic development incentive agreement with Elevate QOF, LLC (hotel and retail project near Chaparral Street and Lomax Street) and legal issues in Ajit David v. City of Corpus Christi et al.; item was handled in closed session.
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Corpus Christi B Corporation - Type B
Agenda
- Persons with disabilities who plan to attend this meeting and who may need auxiliary aids or services are requested to contact the City Secretary’s office (at 361-826-3105) at least 48 hours in advance so that appropriate arrangements can be made.
- The mission of the Business & Jobs Development (Type A) and B Corporations is to promote and enhance the City of Corpus Christi's economic base by supporting projects and programs that create primary jobs, improve small business and affordable housing opportunities, and improve infrastructure in our City.
- President Diana Summers to call the meeting to order.
- Call Roll:
- PUBLIC COMMENT:
- MINUTES / EXCUSE ABSENCES
- Approval of Minutes for the Type B Board, January 12, 2026 Regular Meeting.
- FINANCIAL REPORT
- Type B Financial Reports as of December 31, 2025
- EXECUTIVE SESSION ITEMS:
- Executive Session pursuant to Texas Government Code § 551.071 and Texas Disciplinary Rules of Professional Conduct Rule 1.05 to consult with attorneys concerning matters related to legal issues concerning the economic development incentive agreement between the Corpus Christi B Corporation and Elevate QOF, LLC for the development of a hotel and retail project, regarding the commercial development at or near the intersection of Chaparral Street and Lomax Street, within the City of Corpus Christi, and legal issues concerning Ajit David v. City of Corpus Christi et al. and pursuant to Texas Government Code § 551.087 to discuss or deliberate regarding commercial or financial information relating to some or all of the aforementioned matter(s) or entities that the Corporation seeks to have locate, stay, or expand within the City limits and with which the Corporation is conducting economic development.
- AGENDA ITEMS: None
- PUBLIC HEARING: None
- This agenda constitutes notice of any project or type of project that is the subject of a public hearing for purposes of section 505.160 of the Texas Local Government Code.
- PRESENTATION ITEMS: None
- EXECUTIVE DIRECTOR COMMENTS:
- ADJOURNMENT
- This meeting may be held via videoconference call pursuant to Texas Government Code § 551.127. If this meeting is held via videoconference call or other remote method of meeting, then a member of this governmental body presiding over this meeting will be physically present at the location of this meeting unless this meeting is held pursuant to Texas Government Code § 551.125 due to an emergency or other public necessity pursuant to Texas Government Code § 551.045.
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