The Corpus Christi B Corporation voted Monday to terminate its 2024 Business Incentive Agreement with Elevate QOF, LLC, replacing it with a new settlement agreement. The board described it as an effort to conclude protracted litigation over the downtown Homewood Suites hotel project.
Hotelier Ajit David sued the City of Corpus Christi in September 2024, seeking to invalidate the economic development agreement that awarded $2 million in Type B sales tax funds to Elevate QOF for the construction of the 126-room Homewood Suites by Hilton at the corner of North Chaparral Street and Lomax Street.
City Manager Peter Zanoni, in a written statement to KRIS 6 News, said city staff were not involved in the agreement…