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<br /> <br />e <br /> <br />e <br /> <br />City of La Porte <br />LCsluhlis!Jcc! 18Y:J <br /> <br />Memo <br /> <br />DaIs <br /> <br />Mayor and City Council <br />Debra Feazelle, City Manager <br />John Joems, Assistant City Manager <br />Martha Gillette, City Secretary <br />John Annstrong, Assistant City Attorney <br />Gwen Goodwin, City Planner ~ <br />7/1112003 <br />Port of Houston Authority - Property Owners Value Assurance Plan <br /> <br />Tcx <br />Q <br /> <br />FI'UI'I'III <br /> <br />Re: <br /> <br />On June 24, 2003, Mayor and Councilmen Meismer and Warren met with Port officials to discuss <br />changes to the Home Owners Value Assurance Plan. The results ofthe meeting are reflected in the <br />following enclosed documents: Property Owners Value Assurance Plan, Property Owner Application, <br />Property Owners Contract, and an Intertocal Agreement. (See Exhibit F-1,) <br /> <br />On July 11, 2003, the Assistant City Attorney, John Annstrong, reviewed the above items and <br />recommended the following revisions: <br /> <br />. Prooertv Owners Value Assurance Proaram. Item #5 - "The Port's obligation to purchase <br />property will not begin under the Value Assurance Program until the Port Authority receives a <br />Building Pennit from the City of La Porte..." <br /> <br />. Prooertv Owners Contract for the Value Assurance Proaram - ''The Port Authority agrees to <br />purchase, at the agreed sales price, on an 'as is basis~ together with all faults, as at the time of <br />the appraisaL" <br /> <br />The Council should also note that the Port added a $2 million dollar obligation limit to the Property <br />Owners Value Assurance Program, (See Item #10.) <br /> <br />At their July 28th meeting, the Port Commission will consider these changes and our revisions, Upon <br />the Commission's approval, these items will replace the resolution previously approved and adopted by <br />the Port Commission on December 16, 2002, <br /> <br />For your convenience, a revised copy of the Ordinance, Special Conditional Use Pennit (Exhibit F), and <br />companion General Plan (Exhibit F-2) are included, <br /> <br />P, 0, Box 1115 . La Porte, Texas 77572-1115 . 281-471-5020 <br />