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<br /> <br />OR CITY COUNCIL A&-DA ITEM <br /> <br />Appropriation <br /> <br />Requested By: <br /> <br />Source of Funds: <br /> <br />Department: <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Ordinance 2002-2SS4-A <br /> <br />Amount Requested: <br /> <br />Exhibits: Aereement for Services <br /> <br />Budgeted Item: YES NO <br /> <br />Exhibits: SpL'tinml " and VI of Tri-party Agrppment <br /> <br />SUMMARY & RECOMMENDATION <br /> <br />On May 20, 2002, the La Porte City Council approved Ordinance 2002-2554 authorizing an agreement for services <br />by and between the City of La Porte, Texas, Tax Increment Reinvestment Zone Number One, La Porte, Texas and <br />the La Porte Redevelopment Authority, La Porte, Texas. This agreement plus its two I-year renewals has expired. <br /> <br />At the April 27, 2005 meeting, the La Porte Redevelopment Authority / TIRZ Board approved a new I-year <br />agreement with the same terms and provisions as the original agreement. <br /> <br />The agreement provides for the Authority to compensate the City, at cost plus 5%, annually, upon termination, or as <br />otherwise provided for in writing, for services performed by the City on behalf of the Authority. For outside or <br />vendor services, payment will be made within 30 days of invoice date. The agreement is for I year with the option <br />for two I-year renewals and includes provisions for termination by either party. <br /> <br />Action Required bv Council: <br /> <br />Approve Service Agreement for a term of one (1) year with the option for two I-year renewals per Section I of the <br />agreement. (Approve Ordinance 2002-2554-A) <br /> <br />ADDroved for City Council Aeenda <br /> <br /> <br />~ <br /> <br />S-03-05 <br /> <br />Date <br />