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<br />REQUEST FOR CITY COUNCIL AGENDA ITEM <br /> <br />Agenda Date Requested: Julv 26. 2010 <br /> <br />Appropriation <br /> <br />Requested By: Kathv Powell <br /> <br />Source of Funds: <br /> <br />Department: Finance <br /> <br />Account Number: <br /> <br />Report: <br /> <br />Resolution: <br /> <br />Ordinance: X <br /> <br />Amount Budgeted: <br /> <br />Exhibits: Ordinance <br /> <br />Amount Requested: <br /> <br />Exhibits: Industrial District Al!reement <br /> <br />Budgeted Item: <br /> <br />(YES) <br /> <br />NO <br /> <br />Exhibits: <br /> <br />SUMMARY & RECOMMENDATION <br /> <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 /> <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 /> <br />Staff recommends City Council authorize the execution of Industrial District Agreement with FR/CAL Interport, <br />LLC. <br /> <br />. Ordinance No. 2007-IDA-121 <br /> <br />FR/CAL Interport, LLC <br /> <br />Action Required bv Council: <br /> <br />Consider approval of the ordinance 2007-IDA-121 authorizing the execution by the City of La Porte ofIndustrial <br />Dis' greement listed above. <br /> <br /> <br />7/~ lID <br /> <br />Date <br />