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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Agenda Date Requested: July 26, 2010 <br />Requested By: Kathy Powell <br />Department: Finance <br />Report: _Resolution: Ordinance: X <br />Exhibits: Ordinance <br />Exhibits: Industrial District Agreement <br />Exhibits: <br />Appropriation <br />Source of Funds: <br />Account Number: <br />Amount Budgeted: <br />Amount Requested: <br />Budgeted Item: (YES) NO <br />SUMMARY & RECOMMENDATION <br />The City and Industry have agreed to renew the provisions of the Industrial District Agreement for a twelve year <br />period. The current agreements will expire on December 31, 2019, the common date for the Battleground and <br />Bayport Industrial Districts. <br />FR/CAL Interport, LLC has requested to execute an Industrial District agreement with the City of La Porte for a <br />portion of the land which is being split out of US Industrial REIT II which is covered under Ordinance 2007 -IDA - <br />109. <br />Staff recommends City Council authorize the execution of Industrial District Agreement with FR/CAL Interport, <br />LLC. <br />• Ordinance No. 2007 -IDA -121 FR/CAL Interport, LLC <br />Action Required by Council: <br />Consider approval of the ordinance 2007 -IDA -121 authorizing the execution by the City of La Porte of Industrial <br />DisUiet-4greement listed above. <br />Ron Bottoms;'Ciiry Manager <br />Date <br />