Laserfiche WebLink
<br />,. <br /> <br />Reqtst for Port Commission Acln <br /> <br />To: Executive Director <br /> <br />Subject <br />Property Owners Value Assurance Program <br /> <br />Category - M <br />General <br /> <br />Page Minute # <br />1 of 5 <br /> <br />From (Department or Other Point of Origin): <br /> <br />Origination Date: <br /> <br />Agenda Date: <br /> <br />Real Estate Department <br />Director's Signature: <br /> <br />June 26, 2003 July 28, 2003 <br />Department Affected: <br />Operations Department <br />Real Estate Department <br />Date and Type of Prior Authorizing <br />Commission Action: <br />2002-1216-30 <br /> <br />For Additional Information Contact: <br /> <br />Brenda McDonald (713) 670-2679 <br />Recommendation: (Summary) <br />Recommendation for Authorization to Amend a Resolution for a Property Owners Value Assurance <br />Program in Connection with the Barbours Cut Truck Entry Station Project and Enter into an Interlocal <br />Aareement with the City of LaPorte, Texas, <br />Amount of Funding: <br /> <br />Executive Director Signature: <br /> <br />Not to Exceed $2,000,000 <br /> <br />Recommendation: <br />The Port Authority is currently working with the City of LaPorte, Texas to replat, rezone, and approve a <br />planned unit development for the Port Authority's truck entry station on Barbours Cut Blvd. During <br />meetings with the adjacent property owners, concerns were expressed about possible declines in their <br />property values once the truck entry station is completed, <br /> <br />In response to these concerns, the Port Authority passed a Resolution on December 16, 2002, for a <br />Homeowners Value'Assurance Program, The City of LaPorte reviewed the Resolution and in their <br />June 9, 2003, City Council Meeting, requested that the Resolution be amended, The requested <br />changes are: <br />1) to include all property owners within 400 feet; <br />2) to execute an Interlocal Agreement between the Port Authority and the City of LaPorte concerning <br />the notification of the property owners; <br />3) to extend the sign-up period from 30 to 180 days from the date the Special Conditional Use Permit <br />is granted by the City of LaPorte; and <br />4) to notify property owners at 90, 60 and 30 days prior to expiration of the Value Assurance Program <br />between the Port Authority and the property owners who have signed up for the Value Assurance <br />Program, <br />An amended resolution is attached, which will replace the December 16, 2002, Resolution, The Port <br />Authority's obligation under this Resolution shall not exceed $2,000,000, <br /> <br />Therefore, it is recommended that authorization be sought from the Port Commission in its meeting of <br />July 28, 2003 to approve the attached resolution for a Property Owners Value Assurance Program for <br />a five-year period to replace the resolution on the subject adopted December 16, 2002, and authorize <br />the execution of an Interlocal Agreement with the City of LaPorte, Texas which allows for project <br />notification to the City of LaPorte in connection with the Barbours Cut Truck Entry Station project, <br />subject to terms and conditions fit and appropriate in the opinion of the Executive Director to protect <br />the Port of Houston Authority interests and its business relationships with other. tenants and <br />customers; and further authorize the Executive Director to do any and all things in his opinion <br />reasonable or necessary to give effect to the foreaoing. <br /> <br />..:~PWrMQ'T R:i~.1._ <br />l...............1 <br />