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<br />Amended Resolution
<br />Value Assurance Program
<br />For LaPorte Property Owners
<br />
<br />WHEREAS, the Port of Houston Authority of Harris County, Texas (port Authority) is
<br />working with the City of LaPorte, Texas, to replat, rezone, and approve a Planned Unit
<br />Development on property the Port Authority plans to use for a Truck Entry Station,
<br />(TES) on Barbours Cut Blvd,; and
<br />
<br />WHEREAS, the adjacent property owners in Blocks 433, 432, 980, 981, 982, 983, 984,
<br />985, 973, 974, and 988, Town of LaPorte, Harris County, Texas, that are within 400 feet
<br />of the TES have concerns about declining property values once construction of the TES is
<br />begun and want assurance that, should their current property value decline, the Port
<br />Authority will purchase their property; and
<br />
<br />WHEREAS, the Port Authority is willing to offer the option to all property owners in the
<br />Blocks mentioned above to sign up for the Barbours Cut Terminal Truck Entry Station
<br />Value Assurance Program, described below, within 180 days following the date the City
<br />of LaPorte, Texas, grants a Special Conditional Use Permit to the Port Authority for the
<br />TES,
<br />
<br />NOW THEREFORE BE IT RESOLVED THAT, the Port of Houston Authority of Harris
<br />County, Texas, establishes the following Barbours Cut Terminal Truck Entry Station
<br />Value Assurance Program, for the property owners who sign up for the program:
<br />
<br />1, Owners of property in the Blocks described in the Preamble of this Resolution may
<br />sign up for the Value Assurance Program after the City of LaPorte issues a Special
<br />Conditional Use Permit (SCUP) to the Port Authority for its Truck Entry Station for
<br />Barbours Cut Terminal, and those owners may sign up for 180 days after that date,
<br />2, The Value Assurance Program (Program) is not transferable to subsequent owners of
<br />the property, No property may participate in the Program after the 180-day time
<br />frame expires,
<br />3, The Port Authority will purchase the above-described property that is unimproved
<br />property at the 2003 Harris County Appraisal District Appraised Value, Unimproved
<br />property is considered to be vacant land, that is, land with no structures on it. Under
<br />the Program, a slab or utilities are not considered improvements,
<br />4, The Port Authority will purchase the above-described property that is improved
<br />property at the market value as established by a Texas State Certified Appraiser after
<br />the property owner signs up for the Program, The owner of improved property will
<br />select a Texas State Certified Appraiser to assess the current appraised value of the
<br />property within 60 days of applying to enter the Program, Should the Port Authority
<br />disagree with the value determined by the appraisal, the Port Authority will select a
<br />Texas State Certified Appraiser for a second appraisal. If the Port Authority and the
<br />property owner cannot agree on using either of the previous appraisals, the Port
<br />Authority and the property owner shall jointly select a Texas State Certified
<br />Appraiser for a third appraisal to determine final value, If no third Appraiser can be
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